In the ever-evolving world of hospitality, staying ahead of the curve is crucial. So, a couple of members from Liquid’s food and drink division headed down to London’s Olympia to see what insights they could take from leading industry professionals, chefs and journalists at the 2023 annual Restaurant Show.

Culinary trends from some of the industry’s most up-and-coming chefs…

One of the most insightful talks, ‘On your radar: The next generation of leading chefs,’ saw a panel of Michelin star chefs [Woongchul Park of Sollip, Gabriel Waterhouse of The Waterhouse Project, Joe Laker of Counter 71, Theo Clench of Cycene Restaurant by Blue Mountain School and finally Mark Tuttiett of Da Terra] talk about their experience and what they’re expecting to see from the industry in the near future.

One head chef mentioned that he’s noticing a shift away from à la carte to more condensed, tasting menus with a fixed price, as à la carte menus are not as profitable as they once were. In response to this, chefs are already implementing changes in their restaurants by adopting smaller, more focused menus like tasting menus, that also allow for greater efficiency in the kitchen whilst meeting customer demands.

In today’s challenging climate, where well-established restaurants face profit pressures, factors like surging ingredient costs have amplified the challenge. However, the hospitality sector has demonstrated resilience, adapting to challenging circumstances. Amid these shifts, tasting menus are poised for a resurgence, offering shorter, more affordable selections that align with customers’ budgetary concerns while bolstering business profitability. Given the across-the-board price increases for menu items, tasting menus offer an attractive win-win proposition.

Furthermore, fine dining is evolving towards a more casual and accessible experience. High-end casual restaurants, pub-style eateries, and innovative small establishments are redefining dining, ensuring inclusivity and approachability for all.

Another mentioned that chefs are also carefully managing their staffing levels, considering the attitude and personality of their employees – head chefs want to train up and retain the staff that they’re putting time and money into. Gabriel Waterhouse of The Waterhouse Project explained that his staff are even experimenting with a four-day workweek to improve work-life balance and productivity, something uncommon from the usual stereotype of long hours and workweeks. The fast-casual restaurant chain Dig was one of the first to test the idea with its hourly kitchen staff, giving them the option to work full-time hours compressed into four days. The chefs also mentioned concerns over visa costs for foreign staff post-Brexit, which has led to more of a demand for hiring local talent.

The power of restaurant stories and diversified revenue streams

In today’s competitive landscape, restaurants are recognising the importance of crafting their own unique stories on social media, to give consumers a ‘look in’ at the restaurants as a brand rather than solely their food. A prime example of this comes from Karen’s Diner,  an interactive diner and an absurdly fun experience where you’re greeted and waited upon by rude waiters and forced to play a variety of stupid games.

We heard from Paul Levin, Creative Producer at Viral Ventures trading as ‘Karen’s Diners’ who explained that TikTok is a key platform for generating UGC (user-generated content) and telling the brand’s story, targeted directly at their target market. He also explained the correlation between a strong Tik-Tok presence and driving sales, all down to brand connection with the consumers.

In the digital age, user-generated content reigns supreme. Restaurants are encouraging customers to share their experiences on social media, reposting this content to build brand recognition and drive sales. Establishing a strong connection with the brand is paramount for driving consumer engagement and loyalty.

Liquid has its own in-house TikTok specialist dedicated to serving a diverse range of clients in the food and beverage industry. We recognise the vital importance of staying ahead of evolving trends and responding to changing consumer demands. That’s precisely why we established this role a couple of years ago, benefitting clients like Maple from Canada UK, Eric Lyons, and Duralex.

Restaurants are now diversifying their revenue sources beyond the kitchen by embracing strategies such as creating engaging YouTube content, leveraging social media channels, exploring online ordering and delivery services, introducing subscription models, and prioritising brand recognition. These approaches have become crucial for success, alongside the traditional goal of filling seats.

Sustainability and the farm-to-table experience

A general theme that came out of the show was that sustainability is at the forefront of the restaurant industry’s minds. Diners are increasingly concerned about the origins of their food, leading restaurants to emphasise transparency and the farm-to-table experience. The awareness of where food comes from is a powerful driving force behind the choices consumers make when dining out.

Cross-Industry Insights and Competitive Analysis

To remain competitive, restaurants are advised to look beyond their own industry. Studying what competitors and cross-industry companies are doing is essential, but it’s equally important to draw inspiration from diverse sectors. Hyper-local Twitter channels provide a valuable tool for connecting with local audiences and staying on top of customer reviews and service inquiries.

In conclusion, the Restaurant Show served as a window into the exciting future of the hospitality industry. From culinary innovations to creative marketing strategies, the trends highlighted here are set to reshape the way we dine and experience restaurants. As we move forward, the ability to adapt to change and embrace innovation will be the key to success for restaurants of all sizes and styles.