Beverages Become Increasingly Important Parts of Restaurant Revenue
The simple days of restaurants offering their customers four or five soda choices, coffee, tea and milk are fading fast. Customers want more exotic, personalized and upscale beverages and not just for alcoholic drinks. Restaurants are offering custom-made fountain sodas, signature restaurant beverages, specialty iced and hot teas and even on-premises roasted and ground coffees.
You can increase profits dramatically and attract greater numbers of millennials and baby boomers by offering special beverages for your customers. Baby boomers were the first generation to embrace specialty coffees, and the trend gave rise to coffee shops, baristas and chains like Starbucks. In the United States, teas have finally begun to gain popularity among typical restaurant patrons, which reinforces tea being the world 's most popular beverage choice.
Specialty Teas
Imagine going to a restaurant for the meal of your dreams. The food is superb, and the service is impeccable. You dine by candlelight on a fine linen tablecloth with every luxurious amenity imaginable. At dessert time, the server wheels out a cart of decadent pastries. You order dessert and tea, but your server brings a common brand of teabag that you get at the corner diner. You can 't help but be disappointed, and the perfect meal is ruined.
This scenario is not that uncommon in the real-world restaurant business. Restaurants are upgrading their foods, wine
For specialty coffee beverage services, including coffee, espresso, tea, chai and granite the leading drinks in 2004 were espresso-based beverages with
7. Mykesai our waitress said “The choice of beverages includes iced tea, soft drinks, and milk.”
Every human being having to start the morning with a cup of coffee or tea with hot and delicious breakfast, and mid-morning or afternoon. The great hot coffee or tea is sharing with family, friends and co-workers. Some people are like to drink coffees or teas as taste bold to medium and mild with any types of products. In 19th centuries to now, there are so many food businesses open in the market such as coffee stores, food restaurants, retail grocery stores and food industries. There are different country’s coffees or teas with flavors find in the coffee or cafe stores. The coffee businesses are open such as Starbucks coffee, Dunkin Donut, McDonald, Panera, Caribou café etc. All these coffee businesses have the own corporate stores,
More and more people like to eat outside in a restaurant. Restaurant services can help people establish the satisfaction of ingredients, provide considerate services, and save customers’ time. The restaurant industry occupies an important place in the service industry, and because the demand of customers is increasing, the demand on the level of service is becoming greater. The stages of the industry’s life cycle are typically separated into three stages: beginning, maturity, and recession. The restaurant industry is clearly in the maturity stage. For now, people usually can find what they want by using some Apps, and find the restaurants near them. It is convenient for people to eat in a restaurant. The trend of restaurant will be continued in next five years. The charts(4) below showed the restaurant industry sales have been increasing since 1970, and the restaurant sales was $709.2 billion dollars, the sales of restaurant industry included commercial restaurant services, eating places, bars and taverns, managed services, lodging places and retail, vending, recreation, mobile. Commercial restaurant services occupied the most sales from restaurant industry. The major emerging trend in restaurant industry is the way we manage restaurant, more and more technological products were used in restaurant, we use tablet to order food. Restaurant were using advanced technique to have a better dining experience, like the
Nevertheless, the majority of customers are very satisfied with the amount of serving along with the quality of their meal as well as the price paid. The strategy of being a low priced high value added has seen problems due to lack of customers which is affecting the bottom line drastically. This inevitable circumstance has put a hold on operations and started an investigation upon various neighboring competitors and their own strategies.
There is a projected growth of employment of 5% in the next 8 years, as population growth elevates the demand for various places to dine out. Advancement in the field is also possible, as an individual gains more experience, they have a greater likelihood of being employed at an upscale restaurant. However, in an effort to save costs, many of these establishments will hire less employees as time goes on, and consequently fewer food service managers.
Our target audience is the business men and women of Charleston, WV. They consist of doctors, lawyers, bankers, and salespeople. We will also be focusing on the customers of all of the businesses in the area as well. Young people are drinking more coffee than in recent years, according to the data compiled by the National Coffee Association: 54 percent of people over the age of 18 are drinking coffee each day. This be our target age group in the Charleston area. Men and women alike will be in our target audience. Most in this age range enjoy coffee, tea, or pastries at some point in their day.
The baby boomer generation is retiring. This means spending by older consumers will decrease. Now, Starbucks will have to tap the Gen X and the Millennials as customers.
Evolving customer base: Starbucks’ newer customers tended to be younger, less well-educated, and in a lower income bracket than Starbucks’ more established customers.
As for other coffee consumption facts, brewing coffee at home declined from 2006-2011 with 75% of total coffee sales made “away from home” (High Beam Business, 2012). Furthermore, an interesting study revealed the growth in this target market: “another new and large growing target market within the coffee industry is college-age students and post graduate individuals residing in urban areas. These two segments account for the largest portion of coffee drinkers” (Scribd, 2012, Marketing
As for other beverages, they should be in the same or lower price range compared to the specialty coffee.)
The demand for coffee shops is born from the increased number of individuals seeking coffee brewed outside of the home. This creates a larger market for coffee shops. An increased amount of people are starting their mornings off by purchasing breakfast and a cup of coffee away from home (Tuttle 2014), more people are enjoying gourmet coffee (NCA National Coffee Drinking Trends 2015 Infographic), and younger generations are demanding more coffee and coffee drinks from coffee shops (Tuttle 2014, S&D Coffee and Tea inc. 2014, Statista 2015). Coffee shops must compete with at home coffee, work place coffee, and teas for the caffeinated beverage markets (LN 2015). Demand for coffee within different markets varies, and provides competition for coffee shops. Single cup coffee makers, increasingly qualitative instant coffees, and gourmet beans are all sources of competition that could satisfy the demand for coffee. However, coffee shops are becoming more ingrained in social
Starbucks extends their coffee experience to everyone: kids, teenagers and adults. Part of their success comes from their ability to create new products that fit the culture of the country. In Japan, for instance, Starbucks launched green tea lattes, which later became popular in other countries (Allison). Starbucks is well established in countries like Canada, Japan, and the United Kingdom. In the US alone, Starbucks sells 4 million cups of coffee per day (Horovitz). Their products and services have transformed the way customers view coffee. Changing the way customers order, Starbucks makes it very chic to purchase custom drinks. Starbucks is like no other coffee shop: the dimmed lights
Executive customers are between 31-55 years old. They prefer brewed coffee and iced coffee rather than blend coffee
The consumer market is segmented according to age as well as preferences. People working in offices located close to the coffee bar and on sophisticated teenagers. Younger consumers are often willing to spend more on fancy coffee blends and signature drinks; the health-conscious would be willing to pay extra for “healthier” substitutes such as organic products; My market research shows that these are the customer groups that are most likely to buy coffee products. Since coffee consumption is universal across different income categories and mostly depends on the level of higher education.