{"id":4178,"date":"2024-09-19T15:02:19","date_gmt":"2024-09-19T13:02:19","guid":{"rendered":"https:\/\/dfvcg-events.de\/european-foodservice-summit\/?p=4178"},"modified":"2024-09-24T16:03:48","modified_gmt":"2024-09-24T14:03:48","slug":"dynamic-pricing-retail-gastronomy-and-a-star-photographer","status":"publish","type":"post","link":"https:\/\/dfvcg-events.de\/european-foodservice-summit\/dynamic-pricing-retail-gastronomy-and-a-star-photographer\/","title":{"rendered":"Dynamic Pricing, Retail Gastronomy, and a Star Photographer"},"content":{"rendered":"

The second day of the European Foodservice Summit in Amsterdam ended with an emotional finale and started with a handover.<\/p>\n

Click here to secure your ticket for 2025. Special rate til Oct 31st.<\/a><\/p>\n

At the beginning of the day, founder and long-time moderator of the European Foodservice Summit, Prof. Dr. Chris Muller, announced his retirement from the stage. Starting next year, Prof. Dr. Torsten Olderog from AKAD University will take over the moderation of the high-profile event, which will be held again in Amsterdam from September 17 to 19, 2025.<\/p>\n

The first topic of the second day was dynamic pricing. The introduction from the market research perspective was given by Philipp Laqu\u00e9, Managing Director Europe at Revenue Management. \u201cDynamic Pricing means price adjustments based on real-time fluctuating demand \u2013 it does not include Happy Hours or lunch offers,\u201d emphasized the pricing expert.<\/p>\n

The central challenge: \u201cConsumers tend to feel unfairly treated when prices are not transparent.\u201d However, this perception can be influenced, according to Laqu\u00e9. He shared two crucial tips for this: 1. Communication should focus on the consumers’ gains, and 2. Differences in customer price sensitivity can be leveraged. The rule of thumb here is: the more high-end the product, the lower the price sensitivity.<\/p>\n

Click here for pictures of the event<\/a><\/p>\n

Higher Profitability Thanks to Dynamic Pricing<\/strong><\/p>\n

From a practical viewpoint, Joaquin Capel Alcaraz, CEO of Grupo con Fuego, reported. The Spanish hospitality company with 25 restaurants in various segments introduced dynamic pricing during the post-pandemic restart. Menus and prices are adjusted according to three demand situations ranging from low to high. For example, elaborate dishes disappear from the digital menu during high-traffic times. During weak demand, the restaurants offer a broader selection including discounts and promotions.<\/p>\n

The results, according to Capel Alcaraz, speak for themselves: Both revenue and EBITDA across the group’s restaurants increased by 11% and 10%, respectively, thanks to dynamic pricing. \u201cDynamic pricing works. The success largely depends on HOW you tell the story to the guests,\u201d the CEO from Madrid is convinced. \u201cIf done right, dynamic pricing is accepted by both locals and tourists.\u201d<\/p>\n

 <\/p>\n

The Industry from the Consumer’s Perspective<\/strong><\/p>\n

Edurne Uranga from market research company Circana invited participants to a change of perspective: \u201cLet’s just be happy consumers for a moment,\u201d she said. However, using data from her company, she also highlighted new challenges for the foodservice industry. The market environment has become more competitive in recent years, and consumers have significantly more options in the out-of-home market, especially in retail.<\/p>\n

Additionally, consumer spending in the out-of-home market has recently stagnated across Europe, primarily due to inflation, after some recovery post-COVID pandemic. \u201cWe need to accept that we have currently reached a certain plateau,\u201d she said. However, she also pointed out opportunities for restaurateurs in this challenging environment, such as cooperating with brands outside the F&B sector, developing their own ready-to-eat brands, or strengthening cooperation with retail through concepts like shop-in-shop.<\/p>\n

 <\/p>\n

Gastronomy in Retail<\/strong><\/p>\n

In the early afternoon, the congress addressed the question of how strongly gastronomy has now entered the grocery retail market: Andrija Topic from Studenac spoke about the market in Croatia. With 1,300 units, Studenac is the fastest-growing player in the country. The units, at 100 to 110 square meters, are of manageable size. \u201cThe big advantage is that we can open 2 stores in the same street in the neighborhood without cannibalizing each other,\u201d says Topic.<\/p>\n

Additionally, these smaller units can cater more to the needs of the neighborhood and be outfitted accordingly. Bakeries with their own ovens now belong to this equipment. \u201cWe have increased our revenue per unit by 20 to 30 percent with this,\u201d says the manager. Self-checkouts make shopping very easy. Last year’s revenue was around 800 million euros.<\/p>\n

 <\/p>\n

Edeka’s Foodservice Strategy<\/strong><\/p>\n

Sven Oliver Neitzel then took the stage to highlight the German retailer Edeka’s strategic orientation in the area of foodservice. Under the title \u201cSupermarkets Go Foodservice,\u201d Neitzel showed how strongly Edeka now considers the foodservice area as a cash cow. 6,699 units in Germany, ranging in size from 600 to 12,000 square meters, now offer gastronomy \u2013 95 percent of them in the checkout area.<\/p>\n

\u201cWhy gastronomy?\u201d Neitzel asked and immediately gave the answers: \u201cThe dwell time is increased, new customers are attracted, products from the market can be used and promoted, we enhance our food expertise overall, and we are more profitable than before.\u201d<\/p>\n

 <\/p>\n

Technology Meets Gastronomy<\/strong><\/p>\n

Jade Frommer and Lina Utzig from Ephemera showed how technology at all levels can improve the guest experience, attract new guests, and make operational processes more efficient. In their three theme restaurants in Paris, they create unique experiential worlds such as an underwater environment in \u201cUnder the Sea\u201d or a space experience in \u201cStellar\u201d through video projections, sound, and even scent design.<\/p>\n

To attract guests, the two increasingly use social media, for which they have hired an AI artist. This artist mixes reality and AI-generated content in videos and images that reflect the themes of the restaurants. One of their TikTok videos generated 4.5 million views, according to Utzig. They also rely on a variety of digital tools in the back office. Utzig’s tips for the audience: \u201cUse social media for guest acquisition. Technology is key for optimization, efficiency, and forecasting.\u201d<\/p>\n

 <\/p>\n

Seeing the Beauty<\/strong><\/p>\n

Far away from the gastronomic world and from Europe, the closing speaker Jimmy Nelson took the audience. \u201cWhy am I driven by a hunger? Driven to take risks and travel to the most dangerous regions of the world?\u201d With these initial questions, photographer Jimmy Nelson took the audience on an emotional and dramatic journey through his life. The key moment of his life came during a trip to Tibet at just 17 years old.<\/p>\n

The encounter with the nation isolated by China sparked Nelson\u2019s \u201cobsession to see the other \u2013 the disappearing cultures of the world.\u201d The Dutch artist compellingly shared with his listeners the great task of making contact and building trust with the world’s remotest peoples.<\/p>\n","protected":false},"excerpt":{"rendered":"

The second day of the European Foodservice Summit in Amsterdam ended with an emotional finale and started with a handover. Click here to secure your ticket for 2025. Special rate til Oct 31st. At the beginning of the day, founder and long-time moderator of the European Foodservice Summit, Prof. Dr. Chris Muller, announced his retirement […]<\/p>\n","protected":false},"author":30,"featured_media":4183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":["post-4178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nDynamic Pricing, Retail Gastronomy, and a Star Photographer | European Foodservice Summit<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dfvcg-events.de\/european-foodservice-summit\/dynamic-pricing-retail-gastronomy-and-a-star-photographer\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dynamic Pricing, Retail Gastronomy, and a Star Photographer | European Foodservice Summit\" \/>\n<meta property=\"og:description\" content=\"The second day of the European Foodservice Summit in Amsterdam ended with an emotional finale and started with a handover. 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