Why is data so important?

Each sale is one data point. This allows you to connect the dots and put together a full picture of what is going on in your coffee shop. POS systems will allow you to record every single sale, who made the purchase, when they bought it and which items they purchased.

What type of data can you gather?

Most popular drinks: Does your customer order a latte with cinnamon or an Americano with milk?
Peak hours: What hours do you have the highest number of customers? Understanding when you receive the most foot traffic will assist your scheduling.
Average bill: What does an average customer spend? This can help recognize opportunities in increasing your average order value.
Repeat customers: Who are your heavy hitters? Offer them special offers and discounts to reward their loyalty.

How would you employ data to improve profitability?

Optimize the Menu: Unless a drink isn’t selling well, remove the item on the menu or replace it with a new drink.
Personalized offers: Make personalized recommendations to your customers for offerings based on their purchase history.
Inventory control: Order only the ingredients that are needed to avoid waste and save dollars.
Improving staff efficiency: Reviewing the data regarding employee performance to obtain needed input and providing additional training if required.

Real Example

One coffee shop owner found out that their customers ordered lattes more in the morning and cappuccinos in the afternoons. So, they rearranged the menu items and provided some special offers on these drinks at the peak hours. Their sales went up 15%.

Getting started with analytics

Find an appropriate POS. Most of the modern-day POS systems, such as Alto’s POS & Inventory, come with built-in analytics. Alto’s already has dashboards to visualize your data in the best way to show the meaning of the data underneath, making it easy to understand and analyze. And so, when needed, do not be afraid to ask questions. If you’re not sure how to interpret your data, just ask the business analyst or some technology expert.

Conclusion

Data analysis may be such a strong tool that could even let you make informed decisions about your coffee shop. Using data to understand who your customers are and how to optimize your operations, you will increase your profits and develop a more successful business.

The price of the Basic plan is $14 per month. While all new subscribers will have the option to sign up for this new plan, existing subscribers can choose to either remain on their current plan or switch to the new one.

These changes will not affect our free users. Here’s what you need to know:

1. The new pricing does not apply to existing subscribers unless you choose to cancel and then resubscribe.
2. The new plan still offers all the features of the software, with limits only applying to the number of products, POS terminals, and locations.

If you’ve been searching for a cloud-based POS and inventory system to automate your sales, reports, and inventory management, this might be the solution for you! Alto’s is available for iOS, Android, Desktop, and Web.

Choose a plan

We sincerely thank you for your loyalty and support. If you have any questions, please don’t hesitate to send us a message.

Thank you for using Alto’s POS & Inventory.
– The Alto’s team

Image by rawpixel.com on Freepik

Alto’s POS & Inventory App is for iOS, Android, Desktop and Web.

Thank you to all our Alto’s users for your loyalty and support.

To better reflect the needs of our users and to keep improving Alto’s, we’ve launched paid plans.

Power your business with Alto’s POS’ multi-store management, inventory management, staff management, loyalty, integrations, kitchen display and sales reports.

Alto’s gives everyone access to a FREE PLAN to manage your food or retail business. Be it a restaurant, a café, a fast-food chain, a clothing store, a gift shop or a bookstore and many more.

See Pricing to learn more about the paid plans, or create a Free account to check it out for yourself.

We are looking forward to welcoming you on this journey with us.

Sincerely,
Team Alto’s

To ensure that your customers feel welcome in your stores, you need to consider a few things. Your staff must be smiling at all times and should sport a pleasing aura and appearance. Also, customers must feel that your attention is solely on them. Lastly, your staff must mind their manners.

Remember that your smile serves as your logo in business, and your personality becomes your business card. Meanwhile, how your customers felt after experiencing your products and services becomes your trademark. Learn more about the ways to keep customers welcome and delighted by reading further.

What is Customer Service?

Customer service includes welcoming new customers. In essence, it is the act of advocating and supporting customers in their optimization, use, discovery, and troubleshooting of a service or product. Moreover, it involves processes supporting teams to create excellent customer service to happen.

The goal here is to foster well-rounded and better relationships with customers. To achieve this, you must welcome your customers properly first, make them feel happy and relaxed when they visit your store or business premises. The longer they stay, and the more frequent they come, the higher the chance of achieving your ultimate goal.

10 Ways to Welcome New Customers

Here are some tips for making sure that your new customers are welcome in your store.

Give Your Customers an Impression That They are in The Right Place

If you see a new customer or a regular having trouble with something, you can offer help by saying, “I can help you with that.” Doing so will make them feel at ease and comfortable, knowing someone can assist them. That statement is enough to give a good impression about your customer services.

Moreover, offering your help makes them feel that there is someone who will take personal responsibility for managing your request. The pronoun “I” may be short but has the greatest impact on language.

Do Not Make Them Wait Long

Avoid placing a customer in a phone queue or lengthy check-out line because it makes them feel unimportant. Ponder on the number of customers hung up or walked out from a store because their waiting time is unacceptable. On your end, you should exert efforts in making them wait to a minimum.

Give Special Attention to New Customers

In all cases, you should give new customers special attention. Strategize in developing a detailed checklist of the things that you can share with your customers. It can be about your business’s philosophy and return policies or your years in service.

New customers appreciate it when you pour extra time welcoming them and sharing interesting facts about your business.

Never Tell your Customers “Do Not Reply” in Emails

Most companies commit the mistake of sending “Do Not Reply” emails to customers who signed up for their e-commerce site. If it is your first time communicating with a customer, avoid sending such an email because it makes you seem unwelcoming.

Creating a personalized welcome letter may take some time, but it will positively impact customers. If you plan to do this, you can be yourself to create an accessible atmosphere.

Relationship Invitation

Building a relationship with each customer at every encounter may seem impossible. As a company, your goal is to equip your staff with skills in inviting a relationship. If you do this, no doubt there are customers who will not fail to notice this because they seek to feel wanted.

The feeling you are creating is similar to extending your hand for a handshake, which is enough to start a connection.

Fostering Human Connection

Listening to the underlying emotion your customers are trying to imply or conceal matters. You need to gauge whether a customer is disappointed, happy, frustrated, etc.

Knowing how to spot these emotions sets the stage for an essential conversation. It is as if offering your customers warmth.

Personalize their experience

Every customer is unique. For instance, one customer may be buying a coat for her trip to Japan for the first time. Another would be someone looking for thicker coats for a winter trip in Europe. Knowing the needs of your customers will automatically personalize their transactions with you.

Remember, no two individuals have the exact needs and circumstances.

Customers Can Quickly Flee from E-Commerce

The design of e-commerce is important for anonymous transactions with customers. Customers can easily decide to find what they need somewhere else if the company’s site fails to provide means for customers to communicate with a human for their inquiries and concerns.

Anyhow, who would want to talk to a robot?

Do Not Be Confused Between Customer Satisfaction and Loyalty

Customers will not go out of their way to return for repeat service or repurchase just because they are satisfied with the interaction you have provided them. In some cases, the strongest bond may not be because of brands or the store itself but the relationship between them.

To sustain customer loyalty, you may want to think about incorporating a human component. Bear in mind that loyalty is like glue and not only about satisfaction. Your company’s services and products will just be an ordinary commodity without a connection with your customer.

First Impressions Last

Ever since you were young, you have heard that first impressions matter the most. It is safe to say that customer interactions are like interviews, and they have the power to decide whether they will buy or visit again or not. As for your business, you only have one chance to make a great impression.

Conclusion

In business, you have to bear in mind that customers have infinite options. Your task is to make your staff equipped with skills and strategies to welcome customers and help them get what they need. Keep in mind these ten simple steps in welcoming new and returning customers.

Sources:
Featured photo by Pablo Merchán Montes – Unsplash
https://www.zendesk.com/blog/customer-service-skills/
https://www.qminder.com/customer-service-statistics/
https://catalystforbusiness.com/make-customers-feel-welcome-with-these-helpful-tips/
https://insights.ehotelier.com/insights/2016/05/06/the-importance-of-a-welcome/
https://tcfcr.com/10-tips-for-making-customers-feel-welcome/

The analysis of POS reports starts with asking yourself the right questions to narrow in and focus on the data you will gather. Identification of patterns and trends in your POS sales data will give information about your sales and inventory, so you can effectively strategize for promotions.

POS reports will give insights related to your business’s performance, like the effectiveness of your marketing efforts, customer buying patterns, and seasonality of your products and services. Learn more about POS reports, their importance, interpretation, and types that can help you grow your operations.

What Is a Point-of-Sales (POS) Report?

A POS report is data gathered from the point of sale system- records of your sales and inventory. It captures details used in informing all sorts of business decisions. Modern POS systems allow tracking sales, credit card transactions, and employee working hours and generate reports daily, weekly, or monthly.

Business owners get helpful information about their sales trends, inventory, and employee performance from POS reports. Moreover, it can give a glimpse of the different areas in your business or an overview of it in its entirety. You can get a picture of your business’ health because the POS system integrates with your back-office software.

Also, if you are dealing with a cloud-based POS vendor, you can easily access reports on demand and wherever you are.

Why is Running POS Reports Important?

POS reports give you crucial information that can help you assess various aspects of your business. It can make your decisions related to sales forecasts and marketing strategies more effective. Below are the reasons why you should run POS reports.

1.   It Drives Staffing Decisions

Data collected from the POS system helps you know the working times of your employees. Based on data, you can create shifting schedules that would work best for your company. For instance, you can place top-performing employees on peak hours.

Identify the number of employees on a shift. You get to know your business’s slow and busy times, so you can prepare and prevent being under or overstaffed.

2.   Helps in Making Purchasing Decisions

Manual inventory tracking and management may be a tedious and stressful job for business owners. Having sufficient stock and inventory is a crucial decision to make. With the help of a POS system, the process can be made automated.

Inventory reports will help you decide for your purchases to avoid getting out of stocks, especially hot items, and having too much stock when the sales are low.

3.   Comparison of Sales across Stores

If you are working on multiple sales channels or many storefronts, you might have difficulty tracking sales. With a POS system, you can compare the performance of different stores according to their location. It will ease your burden in making sales, marketing, and staffing decisions based on demands.

4.   Marketing Strategy Optimization

The key to business success is retaining regular customers and reaching new ones. Data from POS reports will help you improve your outreach and marketing. It will ensure that you are hitting the right target market.

Most POS system have customer relationship management software that can provide insights on:

• Possible customers
• What they are likely to purchase
• How often are they going to make a purchase

Using this information, you decide when is the best time to offer promotions and if you need to change your marketing strategy.

5.   Growth Plan Setting

One way to keep regular customers is to give them loyalty rewards, such as discounts or promotions. POS reports will tell you which customers deserve these deals. 

What a POS system does is determine new customers and the people who have purchased from you before. The generated data is crucial in gauging the health of your business and operations. If customers are coming back, it only tells you that they like your services and product. It is also a sign to get new ones.

How to Interpret POS Reports?

Interpretation of POS sales report has basic steps. Here are some of them that you can follow.

1.   Start with a Question

The most critical step in analyzing your POS sales report data is starting with the right questions. It could be about your products and services, sales, inventory, employees, or customers. Here are some of the questions you may ask:

1. Should I reorder a specific product?
2. Was the promotion run last week successful?
3. What employee routine generated the highest sales volume?
4. What makes your customers keep on coming back?

By asking the right questions, you get to narrow down and focus on the data that can give your answers and better grasp your business operations.

2.   Collect and Measure Data

Once you have questions, you need to decide which report has the data to answer your questions. Also, be wary of the filters you may apply to get a more precise and accurate data set like data ranges. Multiple reports enable you to look at data from different perspectives or isolate it from others.

After getting the data, compare the current one to the old ones. Doing so will help you determine your average sales and provide you a benchmark to gauge the present numbers against it.

3.   Identify Trends and Look for Patterns

Following the data collection is the pattern and trend identification. It will provide insights into your customer’s purchasing habits and reveal crucial information like the seasonality of products and promotion effectiveness. Such information will help you arrive at decisions on purchasing and promotional efforts.

4.   Apply Context

Trend interpretation from your sales report requires the application of context. Context is not just about numbers and statistics but also explanations behind why customers purchase a specific item.

Context can also be about external- seasonality, competitor’s actions, weather, or suppliers’ activities (ex. price increase, tariffs, discounts) or internal- losing or gaining employees, or increasing price. The context will explain to you why you have such numbers in POS reports.

Conclusion

Running POS system reports will help you make better decisions in your company. Knowing how to interpret it is crucial because what you will get from them are just numbers. You still have work to do in applying context to see the rationale behind those numbers so that you can take appropriate measures next time.

Sources:
Featured photo created by pressfoto – www.freepik.com
https://financesonline.com/pos-statistics/
https://www.businessnewsdaily.com/11127-learn-from-pos-sales-reports.html
https://www.acceleratedanalytics.com/blog/2019/01/25/pos-data-analysis-a-crash-course/
https://www.businessnewsdaily.com/10449-time-saving-pos-reports.html
https://www.merchantmaverick.com/top-5-standard-pos-reports/

Inventory management is vital to retailers and restaurant owners because it allows them to manage multiple locations, prevent stock-outs, and ensure accurate record-keeping. What makes these processes easier without going manual is the inventory solution.

For inventory management to be effective, it would require tools and methods to give restaurants and retailers detailed information about running their business. Learn more about the nature and importance of inventory management, how it works, and various methods to use.

What is Inventory Management?

One of the pillars of a successful retail or restaurant operation lies in inventory management. The techniques help e-commerce sellers and stores to reduce costs, increase profits, and at the same time satisfy their customers.

In restaurants, they conduct their inventory by monitoring the food and beverage ingredients in real-time. Inventory tracking enables you to see what is coming in, leaving the kitchen as sales and the leftovers in the fridge and shelves. By understanding these metrics, you become more informed of inventory orders.

Moreover, restaurants have a huge and fast-paced changing inventory with a limited shelf life that greatly affects the operations. Better and more streamlined inventory control means less food waste and more money added as profit.

On the other hand, inventory management involves the process of ensuring that you have the merchandise a shopper wants with neither too much nor too little on hand.  You can meet customers’ demands through effective inventory management without carrying excess supply or running out of stock.

Properly handled retail inventory management will result in a better understanding of sales patterns and lower costs. The tools and methods involved will also give retailers detailed information in running their business. This information may be:

• How season affect sales
• Quantities of each product type
• Locations of products
• Stocks that sell well and does not, by sales channel and location
• Quantities of products to reorder and how often
• Profit margin by product line or item, model, or style
• The ideal amount of inventory for stock and storage

Why Is Inventory Management Important?

For retailers and restaurant owners, inventory management is crucial because it helps them increase their profits. Below are the practices how inventory management increases the efficiency of your business:

1.   Minimize out-of-stocks

Retailers and restaurant owners avoid running out of inventory because this could disappoint their customers and induce missing sales. With inventory management tools, you can determine how much stock is enough to have on hand, where there is a larger allocation to bestsellers than the unpopular ones.

2.   Decrease inventory cost

You can pinpoint inventory levels accurately and precisely when you know how much stock you have and how much you need. It can reduce carrying and storage costs for excess supplies and raw materials. Shipping, logistics, depreciation, and opportunity costs are your other sources of savings.

3.   Spoilage prevention and obsolescence

Inventory management enables retailers and restaurant owners to address costly inefficiency once products become obsolete or expire. Milk and meat are supplies considered perishables and have a limited shelf life belonging to these products.

Non-perishables that become obsolete due to consumer taste and technology may also be counted to these products. Some of the examples under this are your season’s collections and holiday-specific packaging.

4.   Improves profit margins

Lower inventory costs and sufficient supply to attain every order allows retailers and restaurant owners to improve their profitability.

5.   Process simplification and growth facilitation

Friction in the system may be reduced by solid inventory management because of sales growth. Smooth shipping, receiving, and order fulfillment minimizes errors, staff stress, and customer complaints.

6.   Multi-channel improvement and omni-channel performance and order fulfillment

It can be challenging to keep correct inventory counts across all channels if you sell via websites, physical stores, and third-party merchants. If you have accurate inventory data across marketing channels, you can use your inventory more efficiently and effectively while bringing consumers faster.

7.   Shrinkage reduction

Shrinkage refers to the losses due to:

• Product damage
• Shoplifting
• Vendor fraud or mistakes
• Employee theft
• Administrative errors

According to surveys, supermarkets lose around 3% of their sales through shrinkage. It suggests that most losses can be rooted in inaccurate recording inventory on intake, misplacing, or miscounting. Hence, retail solid inventory management can reduce shrinkage by 50%.

8.   Customer satisfaction improvement

There is a high chance of increasing customer loyalty when they get the products they want faster and with fewer mistakes or out-of-stocks.

9.   Eases supply chain management

A firm grip on sales trends and inventory will allow you to manage your supply chain more effectively. Replenishment system may work for you, may it be for a few or bigger orders.

10. Forecasting improvement

Historical sales results and available inventory helps in projecting future sales, capital needs, and growth. Forecasting is crucial in your budgeting and spending for product development, staffing, and marketing.

What are the Steps in Inventory Management?

Below are the steps you can follow in inventory management:

1.   Creation of centralized record of all products

The details you should include in each of the products are the following:

• Product name
• Stock-keeping unit (SKU)
• Brand
• Variables include size, retail price, product category, lot number, location, and expiration date.
• Vendor and Vendor SKU
• Wholesale cost
• Minimum reorder amount
• Economic order quantity (EOQ)
• Case quantity amount
• Inventory on hand
• Reorder lead time

Include product images and descriptions to speed up product identification.Every time there is a new product or changes in the vendor or wholesale costs, update your records.

2.   Identify stock location

You should be straightforward with the locations of supplies because they can either be in the stockroom or display. To prevent missed sales and loss of revenue, the use of RFID tags and barcodes can automate inventory mapping.

3.   Do regular and accurate stock counts

Count your inventory periodically to ensure its accuracy. Account for shrinkage, damage, defects, and returns to prevent errors.

4.   Combine sales and inventory data

Sales and inventory data integration is possible because of the inventory management system. It shows you the products that have the fastest turnover and those that are lagging. Product data gives you a picture of the amount to reorder and decide when to offer discounts and promotions.

5.   Create purchasing process

To not get caught behind seasonal trends or risk stock outages, you should have a schedule to review data and order placement. An electronic system can notify you of alerts for specific products that need to be reordered.

6.   Establish a method for markdowns

Create a strategy beforehand for promotions to ensure you have enough supplies to meet demands.

7.   Stock receiving procedure creation

An established procedure in receiving supplies can minimize unexpected outages, overpayment to vendors, and dead stock.

8.   Procedure for returns creation

If a customer makes a return, check for damages and defects, route it for repair, and return it to the vendor as appropriate. If it is still sellable, add it in inventory counts and its correct place.

9.   Deadstock procedure

Deadstock includes incorrect deliveries, damaged items, and leftover seasonal products. Record then remove these products from the inventory. Store it in a place and, if possible, ship it back to vendors for credit. Notify suppliers following their policy.

10.  Choose your inventory KPIs

Consider vital metrics like inventory value, profitability, sell-through rate, and turnover rate in deciding for your key performance indicators (KPIs)

Conclusion

Whether your business is a retail or restaurant, you need to have effective inventory management to improve your business’s efficiency. It will not only minimize your costs but also increase your sales. Over time, you will notice how having an effective inventory management system makes your business more profitable.

Sources:
https://www.fishbowlinventory.com/articles/inventory-management/importance-of-inventory-management
https://dotcomdist.com/the-benefits-and-importance-of-managing-inventory/
https://www.dsdinc.com/2017/04/18/why-is-inventory-management-important/
https://dearsystems.com/poor-inventory-management/
https://www.netsuite.com/portal/resource/articles/inventory-management/retail-inventory-management.shtml
https://www.restaurant365.com/blog/restaurant-inventory-management-why-accounting-integration-is-important/
https://www.onupkeep.com/answers/inventory-management/inventory-management-stats/

It is the same with HoReCa (hotel, restaurant, café) exhibitions. One of the most visited HoReCa Exhibitions in terms of hospitality trade shows is The New York Times Travel Show, where it draws in around 30,000 attendees with 560 exhibitions on one roof.

The New York Times Travel Show is only one of the many most visited HoReCa Exhibitions. Read on to find out more about hotels, restaurants, and café trade shows around the world.

Hotel Exhibitions

Hotel exhibitions or hospitality events showcase top hotel and vacation rental leaders, recent trends, and opportunities to learn more about the industry. Check out the top three most visited hotel exhibitions in the world.

The New York Times Travel Show

With its 30,000 attendees with more than 545 exhibitors all on one roof, The New York Times Travel Show ranks number one in the Hospitality Exhibition. Based on its 2017 data, it captured 40,000 leads with over 560 exhibitors from 170 countries.

These exhibitors reported that they were able to create consumer traveler sales of approximately USD 7.4 million on the site itself or shortly after that. There are also more than 1,000 accredited media journalists worldwide to brush elbows with.

IMEX America

If you are also into speakers, aside from the usual networking and exhibitions, IMEX America is your choice. This trade show is known for its speakers with over 180 educational events that are happening during the course of three days.

It has eight segments that cater to what you want.

• Campfires – Audience can interact with the speakers
• Hot-Topic Tables – Moderated round table discussions
• Expert Clinics – In-depth sessions with the speakers
• Play Room – Audience can interact and use a technology
• Seminars
• White Space – Network with other attendees and speakers
• Live Zone – Live event entertainment

ITB Berlin

ITB Berlin happens every year around March in Berlin, Germany. It has over 10,000 exhibitors that you can connect to from more than 180 countries. According to its data, they have a very high exhibitor satisfaction of more than 90%.

With the target of 110,000 attendees, this five-day event is enormous. Aside from the exhibitions, it also has several segments such as:

• Travel Technology
• Leisure to Business Travel
• Meetings, Incentives, Conferencing, Exhibitions
• LGBT and Youth
• Adventure Travel
• Responsible Tourism

Restaurant and Cafe Exhibitions

Restaurant exhibitions can give you a chance to get more information about franchises, interact with new technologies, and best of all, taste the food. This is the same with Café trade shows. Take note that Café in HoReCa can also mean Catering. Check out the most visited restaurant and café exhibitions in the world.

HOTELEX Shanghai

HOTELEX Shanghai gathers more than 140,000 attendees, 2,500 exhibitors, and 5,000+ abroad purchasers worldwide. Located in Shanghai, China, it has over 26 years of history.

It covers a wide variety of restaurant needs such as:

• Catering Equipment Supplies
• Food and Beverage
• Tableware
• Bakery and Ice Cream
• Coffee and Tea
• Wine and Spirits

Anuga

One of the leading global trade fairs in the food and beverage industry is Anuga. The exhibition is located in Cologne, Germany, and gathers around 165,000 attendees with 7,500 exhibitors.

Aside from the vast number of people you can connect with, Anuga also has a great line-up regarding conferences as it always invites thought-leading speakers.

EquipHotel Paris

EquipHotel Paris not only focuses on Hotel Exhibitions but also on restaurant and café trade shows. It is a complete HoReCa experience located in Paris, France. It has more than 105,000 attendees with 1,600 exhibitors.

You can get to network with restaurateurs, hoteliers, designers, architects, and consulting firms. This exhibition also boasts of having the full support of all professional trade associations.

Internorga

Internorga is an HoReCa Exhibition in Hamburg, Germany, with 93 years of history. It has 93,000 local and international attendees ready to learn more about the industry’s latest trends.

This exhibition also mixes high-end educational content that you can learn from.

SIAL Paris

SIAL Paris is one of the biggest food shows in Europe, with more than 155,700 attendees and 7,000 exhibitors. You can discover products from all over the world, the latest trends, most recent technology, and workshops that will help you boost your knowledge about the industry.

You can fully immerse yourself in the exhibition’s conferences, web-TV, and animations to get an unforgettable experience.

National Restaurant Association Show

National Restaurant Association is an annual event in Chicago. It is bringing in 43,000 attendees with over 1,700 exhibitors. This exhibit also caters to HoReCas and brings together owners and managers of hotels and restaurants, dealers and suppliers, motel and food service operators.

Along with networking, you can also learn from the experts when it comes to hotel and restaurant management.

Express Food & Hospitality Hyderabad

Express Food & Hospitality Hyderabad is an exhibition in Mumbai, India. It brings in 20,000 visitors with 500 exhibitors. It focuses on B2B (business to business) to create bigger opportunities and businesses for India’s companies.

Participating countries include:

• Canada
• Italy
• India
• Japan
• Netherlands
• Singapore
• Australia
• Tunisia
• Turkey
• United Kingdom
• Thailand

Horeca Expo Trade Fair

Horeca Expo Trade Fair is one of the largest exhibitions in Gent, Belgium. It has more than 52,000 visitors and over 680 exhibitors. This expo is running for more than 30 years now and unites all Belgian hotel and catering sectors.

Besides the regular exhibitions, you can also enjoy the culinary competition between young chefs, immerse in workshops with the best baristas and tea experts, demonstration of chefs, and so on.

Expect also to see these sectors:

• Snack & Fast-Food
• Kitchen Hardware
• Food & Non-Food
• Fresh & Authentic
• Coffee, Tea, & Sweets
• Cafe World & Nightlife
• Interior & Technology
• Chef’s Place & Wine Village
  

Hostelco and Restaurama

Hostelco and Restaurama is an exhibition that focuses on the HoReCa industry’s latest trends in Barcelona, Spain. It has more than 25,200 attendees with over 360 exhibitors. Expect to meet Hostelco hunters and experts in hospitality equipment, hotels, and restaurants to keep you updated about the latest in the industry.

The program of the exhibition will include:

• Show cookings
• Demonstrations
• Tastings
• Competitions
• Presentations

INTERGRASTA

Intergrasta happens in Leinfelden-Echterdingen, Germany in Europe. It brings in 100,000 attendees with 1,400 exhibitors—a modern exhibition with an essential focus on innovation that mixes animations and engaging workshops.

Alimentaria

Alimentaria is an international gathering in Barcelona, Spain. It has 101,000 attendees with 1,400 exhibitionists and a global fair for professionals in the Food & Beverage business and food service industry.

Here are the segments:

• Gastronomy
• Internationalism
• Innovation
• Sector Specialization
• Internationalization

Conclusion

HoReCa exhibitions are usually intertwined together, and you may find all three in one event. Joining one can let you understand the ebb and flow of your industry. You will get to know the trends and incoming technology and at the same time help you further your reach by gathering connections.

The most visited HoReCa Exhibitions usually have the most number of exhibitors. And aside from this number, you must also take note of the quality of the event. You are not only there to network but also to learn more about your industry.

How COVID-19 Will Remake the Restaurant Industry  

Change in Consumer Behaviour

The measures undertaken by authorities to curb COVID-19 and social distancing have significantly changed consumer behavior. Unlike in the pre-pandemic era, consumers no longer frequent their favorite indoor and outdoor events, such as sports events and night outs. These measures have left a long-lasting mark on the restaurant industry’s structure, which could prove challenging to erase long after the pandemic.

The major challenge attributed to COVID-19 is the uncertainty in consumer behavior post-pandemic. While some consumers may opt to embrace “normalcy” immediately after reopening restaurants, others would still be pessimistic and cautious. An interesting observation is that consumers would tend to get accustomed to the changes brought about by COVID-19, especially when the pandemic lasts long. Notably, they are likely to continue online food delivery and increased consumption of food at home in the attempt to stay away from possible infection.

Working from home

As a result of COVID-19 and the associated measures to curb its spread, consumers have shifted when and how often they spend on restaurant food. The U.S. Bureau of Labor Statistics estimates that the number of people working from home has increased by nearly 50% compared to the pre-pandemic era. This trend is likely to continue into the post-pandemic and may have unprecedented ramifications. For instance, families may opt to spend their weekends at home rather than visit restaurants for dinner or coffee. The demand for weekday lunch and breakfast would decline sharply due to the measures attributed to COVID-19, especially IN locations with dense populations.

Increased Consumer Spending on Groceries

Despite fewer trips due to COVID-19,  there is a rise in consumer spending on groceries now compared to the pre-pandemic era. Before the pandemic in 2015, consumers spent 53% of their food budget on restaurants and 47% on food at home. This trend seems to have flipped as a result of the pandemic. In the U.S., for instance, the average weekly grocery shopping rose by 17% since the onset of the pandemic. We anticipate this trend to continue in 2021 and the better part of 2022 before consumers can reconsider spending on restaurants. However, the food-at-home spend may persist even then, partly due to the increased efficiency and convenience in grocery delivery.

Digital Transformation

While these changes are mostly painful, like real estate transition, the restaurant industry may experience positive changes accruing from the COVID-19 pandemic. The acceleration of digital transformation and growth in market share opportunities are typical examples of the restaurant industry’s positive changes after the COVID-19. Consumers across the world are engaging more on food-at-home since the pandemic and reducing out-of-home activities. The food industry has witnessed a 30% growth in online customers, a remarkable digital shift that may persist after COVID-19. However, China has reported a moderate growth in online customers, perhaps attributed to the high level of online penetration before the pandemic.

The restaurant industry is adjusting to these consumer behavior changes through various means, including outdoor dining, food delivery apps, and curbside pick-up. However, will restaurants fully regain the pre-pandemic status after the global vaccination campaign?

Real-Estate Shake-up 

As consumers shift to online food delivery and at-home-food, restaurants have no option but to adapt to survive and remain profitable. Such changes in investment would include prioritizing pick-up windows or drive-through options while constructing restaurants.

Store footprints of restaurant chains are likely to suffice as brands attempt to adopt post-COVID-19 recovery strategies. Brands may consider merging two or more entities under one roof. Curbside pick-up windows would become more relevant due to the digital shift.  Consequently, the current restaurant sites are likely to shrink or be vacated in the attempt to consolidate the otherwise razor-thin profit margin associated with the industry.

Consolidation of the Restaurant Chains

As COVID-19 causes havoc across industries globally, small brands remain the worst hit, and the food sector is no exception. Interestingly, the world was home to hundreds of thousands of restaurants. There were approximately 370,000 restaurants, constituting slightly more than half the total number of independent restaurants globally.

However, it is estimated that up to 30% of these restaurants could close permanently due to the pandemic. The closure would have a detrimental effect on the global economy from two main perspectives. Notably, such businesses will be up for sale, and the employees will lose their jobs.

Job Losses

Rather than creating the projected 15.6 million jobs in 2020, the restaurant industry has experienced unprecedented job losses like never before, thanks to COVID-19. According to the National Restaurant Association, COVID-19 caused nearly 2.5 million job losses last year, with a $240 billion decline in industry sales down from the anticipated $899 billion from the pre-pandemic levels. More than 110,000 restaurants closed either temporarily or permanently across the U.S. in 2020.

The permanent closure of thousands of restaurants in 2020 caused massive job losses across the globe. Some of these business ventures and eateries have existed for two decades or so and have employed an average of 32 people. Almost 17% of thee eateries employed at least 50 people before their closure. Unfortunately, only a meager 30% of restaurant owners that closed for good may consider reopening, painting a bleaker picture of the job prospects in this industry and those who depend on it. Even then, less than half of the restaurant owners are willing to stay in this industry, an issue attributed to its vulnerability to such unforeseen calamities and economic disruptions.

Even so, the restaurant industry has proven resilient in the past, particularly its ability to recover from financial challenges. One primary reason behind their persistence is that eateries have sites that preserve high sunken costs and do not require huge capital to reopen. Such sites include high-volume air conditioning, plumbing, among other specialized kitchen facilities. Thus, new operators would find it easy to open their restaurants as adapting would not be a significant challenge.

Take Away

COVID-19 has created havoc in the restaurant industry, leading to job and financial losses, uncertainty in consumer behavior, and real estate shake-up. These changes are likely to last past the pandemic era, an issue that the restaurant industry must confront. While some of these changes are agonizing, there is a flipside to COVID-19, such as digital shift and remote work.

In the wake of the above challenges, restaurants must embrace innovative ideas to stay afloat after the COVID-19 pandemic. They should go above and beyond to not only expand their existing takeout options but also consider other related ventures, such as investing in grocery stores. Interestingly, some restaurants have embarked on creative strategies to remain profitable during and after the pandemic, including altering their menus. These strategies rely on critical findings, which associate increased on-premises dining and takeout with consumer needs and comfort.

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This cloud innovation has penetrated the retail market, including small businesses. Because of its benefits, they are now using cloud-based POS systems. One of its advantages is it saves you time and provides excellent mobility anywhere.

Big, chunky, and bulky cash registers are now a thing of the past. Now is the time to act and jump in. Listed below are a few of the many benefits of cloud-based POS systems. Read on to know more.

Advantages of Having a Cloud-Based POS System

Choosing a cloud-based system implies that you will keep complete control of your business at any time, even when you are off-site.

Increases Mobility

One of the most important benefits of using a cloud-based POS system is the ability to access business data from anyplace, on any gadget. All that is needed is a reliable internet connection and your device.

As cloud-based software solutions are generally usable with tablets and smartphones, these gadgets welcome the potential for expanded mobility. Clients and customers can send orders directly from the table to the kitchen or complete exchanges in the store, making for a more favorable client experience.

Also, cloud-based POS systems allow more centralization of data. You can keep track of what is going on in your store online regardless of whether you are on an extended holiday anywhere around the globe.

Saves You Time

Imagine running a physical store can already give you a challenge. What if you also have an online store? This is where a cloud-based POS comes in. It can save you time as the right POS can help you manage both simultaneously.

How about multiple store areas? Yes, you can conveniently, securely, and safely access that data from any gadget (telephone, tablet, PC, and so on) anywhere using the internet. This gives you efficiency and productivity.

• You can save time and focus them on other equally essential activities using a cloud-based POS.
• You can do business at ease and a faster and more convenient pace.
• As they say in the world of business, time is money. With the help of cloud-based POS systems, you will save both at the same time.

Provides A Secure Platform

Did you know that there is a possible risk in keeping your data physically in the store? This information can get lost or fall into the wrong hands in an unfortunate robbery. Protecting client and individual data is a primary need.

The good thing is, cloud-based systems will not require you to store delicate business information on your PC’s hard-drive. The data is put away on numerous off-site servers. This means that whatever happens, your most crucial information is safe and secure.

Some cloud-based POS systems provide access to data through secure web portals. These portals usually incorporate integration with a virtual terminal. This easily upgrades your business to allow omnichannel payments, including phone payments, mail, site, or e-invoicing.

Most importantly, cloud-based POS systems are practical tools in limiting extortion related to credit card processing. This is because it allows the data to copy and sync to the remote server automatically. This cycle diminishes both a merchant’s security obligation and cybercriminals’ possibility to play out data breaches.

You will also have peace of mind whenever you need assistance in settling any IT problems on your device. This is because all information stored is free from any danger within the cloud.

Affordable Investment

Cloud-based POS systems do not need expensive hardware. Entrepreneurs can use the system without having to purchase costly equipment.

Also, cloud-based systems have lower startup costs than customary POS systems. This is expected since cloud-based frameworks do not need on-site data servers, which are frequently expensive to buy and keep up.

Customary POS systems regularly expect traders to buy a permit and pay for yearly updates. This means the monetary advantages of going with a cloud-based POS system are more apparent.

Another advantage of choosing to go with a cloud-based POS system is that you will avoid paying out of pocket for complicated and potentially expensive equipment upgrades. Instead, your POS provider is responsible for ensuring servers are adequately backed up, configured, and supported.

You will also benefit from instant software upgrades that guarantee you are always giving your customers the very latest and up-to-the-minute payment acceptance. Better still, even as you grow your business, you will never have to upgrade hardware to secure more space. After all, there is always plenty of room in the cloud.

Easily Scalable

Investing in POS programming that adequately adapts to your business needs is significant. Fortunately, cloud-based POS frameworks are not challenging to set up and completely adaptable, so whether you have one or 100 frameworks set up, you can have confidence that essential information stays steady across your whole business.

Because of information being put away carefully, cloud-based arrangements can flawlessly take on the most recent system updates without inconveniences. In contrast to regular POS, the system can still profit from the most recent sale and provide you with maximum performance.

Cloud-based POS arrangements are an essential investment for any entrepreneur hoping to reduce expenses, save time, and smooth out the business.

Conclusion

In a world where businesses are continuously evolving, you must learn to adapt and embrace the change. A cloud-based POS can simply make your life easier and your business worry-free. It has numerous benefits that far outweigh any minimal risks.

With its various advantages that you can make the most, you can quickly boost your business while also giving you more time and convenience. Use this extra time to expand your shop and generate more income.  This cloud-based POS is the future of your business that you do not want to miss.

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