Global Restaurant Investment Forum

11-13 February 2020 | NH Collection Amsterdam Grand Hotel Krasnapolsky

11-13 February 2020 | NH Collection Amsterdam Grand Hotel Krasnapolsky

GRIF Content Library


Future of F&B: Conformity is out; kaleidoscope is in

Published 05 November 2018

By Food Sheikh

There are no longer mass groups of normal consumers, only millions of individuals, millions of small factions that share some commonality with each other, yet think differently, act differently and consume differently.

The number of restaurant chains either slowing down growth, reducing their footprint or simply going bust doesn't seem to be abating. Jamie Oliver is back in the news, because last September he had to stick 13 million pounds of his personal savings into his Italian restaurant chain. I know exactly how he feels, as September is when Dubai annual school fees have to be paid, which are approximately the same cost. John Knight, chief executive of the Jamie Oliver Restaurant Group, said, 'We were opening too many restaurants, too quickly, in the wrong places."

Industry reports lay the blame of poor restaurant performance at the feet of rising costs, oversaturation of the market and increased competition.

However, it's worth exploring the idea that restaurants are also under-performing because average products for average people are just not good enough anymore.

I believe our current culture is to actively search out like-minded people, and connect with tribes that resonate with our beliefs and pleasures. Normal is defined as the usual, the typical or expected, but what is normal anymore?

Read the full article here.