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What’s Keeping Food and Beverage Companies Up at Night in 2021?

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Archives, Global Logistics, Global Trade Daily, Warehousing

What’s Keeping Food and Beverage Companies Up at Night in 2021?

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Here are the top issues that most food and beverage companies are trying to solve right now and some tips on how to work through these pressing problems. 

 

Climbing mountains is nothing new for food and beverage companies that, like most organizations, face a steady stream of new challenges in the course of business. Whether they’re complying with new regulations, adapting to changing consumer demands, or strengthening their supply chains against disruption, food and beverage companies have to stay on their toes or risk falling behind the curve.

 

Right now, some of the key issues that these organizations are facing include:

 

-Changes in consumer demand, both in terms of the volume and variety of manufactured goods consumed.

 

-A higher volume of direct-to-consumer (DTC) transactions. With more consumers shopping from home, setting up and fulfilling these distribution networks have become full-time jobs for food and foodservice organizations.

 

-Disruption of transportation networks needed to be able to deliver these DTC orders (e.g., truck driver shortages, ocean container shortages, transportation capacity constraints, etc.).

 

-Workforce presence, composition, and location. Despite the current economic situation, available labor is still difficult to find in certain areas.

 

-The uncertainties of virus transmission have led many countries to adopt food protectionist policies, DHL points out in a recent report, which has disrupted end-to-end supply chain continuity.

 

-This, in turn, has increased the global price of food and beverage products and has made the global food supply more inaccessible.

 

-Reductions in passenger air travel have impacted air freight considerably, the method by which most perishable products are transported. (According to DHL, air freight capacity declined over 80% on routes between Europe and Latin America in 2020.)

 

-Workforce health and safety—an issue that was exacerbated by the global pandemic. For example, companies have had to rethink their plant floor design in order to accommodate social distancing guidelines. Doug Mefford, our product manager has recently explained why using a WMS can result in an enhanced work environment for the warehouse employees all while reducing risks and potential errors in an interview with Food Logistics.

 

-Raw material and component inventory shortages affecting production. As supply chain shortages persist, everything from steel to resin to electrical components remain difficult to source in the current market.

 

-Inventory shortages that impact manufacturing and distribution companies’ sales.

 

The list of challenges doesn’t end there, but these points paint a picture of an industry that’s still shaking off the impacts of the global pandemic while also looking for ways to work smarter, better, and faster in 2021 (and beyond).

 

Long-Term Resiliency Wanted

 

As the coronavirus outbreak spread, unprecedented challenges have surfaced for food and beverage companies all over the world. Extraordinary measures have been taken to keep the food supply chain safe, efficient, and moving. Industry leaders with agile solutions in place have been able to mitigate some of the fallout from the pandemic, while others are still learning how to cope with the new realities of the crisis.

 

Regardless of where they land on the technology adoption curve, companies need to be able to quickly identify, configure/develop and adopt new capabilities that ensure long-term organizational resiliency.

 

“COVID-19 has impacted the entire food and beverage (F&B) supply chain, from farm field to consumer,” DHL writes in Food Logistics. “It has upended the sector’s operational capacity in its entirety, including production, processing, packaging, and distribution.” COVID also caused a shift toward a greater need for efficiency in production amid the long-term realities of staff capacity shortages and an unpredictable regulatory environment, the freight provider points out.

 

Three Steps to Take Now

 

The good news is that the global food supply chain nearly always shows resilience in the face of unanticipated challenges. Here are three steps that all food sector companies can take now to make their supply chains more resilient and responsible:

 

Focus on go-to-market versatility. Existing go-to-market channels like bars and restaurants could take months to fully recover from COVID-19. “Companies, therefore, need to invest in omnichannel capabilities, especially focusing on online/digital solutions,” Deloitte explains. “This should also include product [interchangeability] across channels.”

 

Step up end-to-end supply chain management. Work with a wider pool of suppliers, including regional ones, and keep larger strategic stocks. A broad product range is more expensive to maintain, but spreads risks, Deloitte acknowledges. “An alternative is to simplify recipes and/or remove problem products from the portfolio, resulting in a leaner, more manageable product range, less risk, and lower costs.”

 

Leverage technology ecosystems. Good supply chain visibility starts with a robust technology hub that includes a warehouse management system (WMS), transportation management system (TMS), yard management system (YMS), and order management system (OMS). It also includes Industry 4.0 technologies that provide advanced capabilities. “Digital supply networks are going to make businesses less vulnerable in the longer term,” Deloitte says. “Robots, for instance, reduce dependence on migrant labor, while track-and-trace solutions help businesses zoom in on supply chain bottlenecks.”

 

With the global pandemic still in full effect, companies across the food supply chain must plan for the continuing effects of the outbreak on different areas of supply, demand, and the overall economy. Using the strategies outlined above, companies can work to improve their supply chain resilience and visibility in a way that addresses the rigors of the current operating environment while also helping organizations prepare for the future. Generix Group North America has recently hosted a webinar Post Pandemic Impacts on the Food & Beverage Business featuring a guest speaker from Chapman’s Ice Cream, John Fleming. You can listen to the recording here and plan how to address supply chain resilience within your own organization.

 

Generix Group North America provides a series of solutions within our Supply Chain Hub product suite to create efficiencies across an entire supply chain. From Warehouse Management Systems (WMS) and Transportation Management Systems (TMS) to Manufacturing Execution Systems (MES) and more, software platforms can deliver a wide range of benefits that ultimately flow to the warehouse operator’s bottom line. We invite you to contact us to learn more.

 

__________________________________________________________________

This article originally appeared on GenerixGroup.com. Republished with permission.

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Archives, Departments, Executive Getaways, Global Trade Daily

SURF’S NOT UP: LONG BEACH, CALIFORNIA, HAS NO WAVES BUT PLENTY OF ACTION  

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Moving into her university dorm room in the foothills of Los Angeles County, an incoming freshman who hailed from Southern California’s Inland Empire asked her new roommate where she was from.

“Long Beach,” the young woman answered.

“Oh, so you live by the beach?” inquired the inlander.

A puzzled look came over the young roomie before she replied, “There ain’t no beach near my house.”

Though it’s the second word in the city’s name, there is no beach in Long Beach if waves crashing into white sand ala scenes from the Baywatch television series are what come to mind. Although surfing in California is believed to have started there in 1911, a 2.2-mile-long breakwater built in 1949 to protect the U.S. Pacific Fleet has halted strong wave action along the Long Beach coast ever since. Shoreline? More like a lakefront.

However, there are large swaths of retail, dining, lodging, attraction and entertainment development facing much of the Long Beach coastline or within a couple of miles of it. This makes the city of Long Beach—a.k.a. “The LBC”—an ideal spot for business gatherings large and small hosted by companies, associations and industry groups, many of which book the Long Beach Convention Center, whose grounds include Long Beach Arena and Long Beach Performing Arts Center, both of which attract national touring acts.

Of particular interest to those booking conventions for shipping, logistics and other supply chain professionals is the nearby Port of Long Beach, which is the second busiest port in the country and, when coupled with the neighboring Port of Los Angeles, a part of the ninth busiest port complex in the world. Indeed, the port and/or its Harbor Commission routinely holds events inside the convention center—and yes, of course, tours of the port facilities make the itineraries.

If you know nothing of Long Beach, California, and perhaps more about Long Beach, New York, you may be surprised to learn that the one on the Left Coast, with its 463,218 population, is about 14 times larger than its East Coast counterpart. As you’d expect of a city that’s bigger than the likes of Minneapolis, New Orleans and St. Louis, this one has its own airport. Indeed, Long Beach Airport (LGB) is far closer and much more convenient than Los Angeles International Airport (LAX). UPS Airlines and FedEx Express serve the cargo side, and Delta, Southwest, American Eagle and Hawaiian Airlines are the passenger carriers. Alas, JetBlue’s long tenure ended in October in a dispute over expansion plans.

The convention center is encircled by the best lodging in town, including The Westin, The Hilton, Courtyard by Marriott, Renaissance Long Beach and the Hyatt Centric The Pike. But those who are tired of the usual corporate suite should look to the other side of the Los Angeles River from the convention center. There you will find the Latin-inspired, waterfront Maya Hotel, which is set within 14 acres of tropical gardens. The Hilton/Double Tree property features an open-air patio restaurant and pool deck with fire pits and cabanas that let you unwind from a day of breakout sessions. If you’re worried about being too far from the convention center action, the Maya is just a five-minute walk from water taxis bound for downtown Long Beach.

Also on that side of the river channel is perhaps the most unusual hotel around: The Queen Mary. Construction began on the former RMS Queen Mary in 1930, and after retiring as a luxury liner in 1967, the ship docked at its permanent location in Long Beach Harbor, where its staterooms now serve as hotel rooms. The cruise-ship spirit is maintained with fine dining, parties on the decks and an actual, uniformed captain. And according to legend: ghosts!

Other attractions include the Aquarium of the Pacific, the Belmont Shore district and The Pike, which opened as an amusement park in 1902 and was famous for its Cyclone Racer roller coaster that ran on tracks over pilings that were built on the water. The coaster closed in 1968, but it has since been replaced by a tamer version that looks retro but actually meets strict California safety regulations. The Pike area includes more shops, stands, restaurants, a comedy club and an outlet mall, making it a great place for long strolls and people watching.

Food choices abound in Long Beach, whether you seek the tried and true or the one-of-a-kind. Many of the latter can be found on Second Street, Retro Row (Fourth Street) or tucked away all over town. (Assignment: Get yourself to Roscoe’s House of Chicken and Waffles.) If you have access to the company credit card or want to impress a client, here are three recommendations:

Fuego, 700 Queensway Drive, Long Beach. At Hotel Maya is this restaurant serving scrumptious Latin-style seafood. It’s better to eat outside because of the equally stunning setting and views of the downtown skyline. However, indoors is also an option that you will especially want to take up if it is a chilly night or the rare time it rains. You can’t go wrong with the Crab Cakes, Lobster Mac or Lamb Chops, but do consider a later flight if you are leaving Sunday so you can return to graze at Fuego’s five-star brunch.

Michael’s on Naples Ristorante, 5620 East Second Street, Long Beach. Given the number of awards, accolades and smash reviews the Italian restaurant has picked up since opening in 2008, you might assume it’s a button-up, fine-dining establishment. Actually, the vibe is casual and, if you desire (and you really should), al fresco. Over in the kitchen, ingredients are farm-sourced and everything is made from scratch, whether it’s the pastas and sauces or the mozzarellas and gelatos. Michael’s also has on Naples Island a pizzeria, which Zagat rated as the nation’s best in 2013, as well as Michael’s downtown that is a hybrid of the ristorante and the pizzeria. Even if you’re hotel/convention-bound downtown, you’ll want to make the trip because Naples has canals that are lined with quaint (multi-million-dollar) cottages. You can pass by them on foot, but it’s better to see them from the water on a rented kayak or paddleboard. You can even hire a gondolier.

Parkers’ Lighthouse, 435 Shoreline Village Drive, Long Beach. Years ago, my wife and I decided in the early evening of New Year’s Eve to grab a quick bite inside the steak and seafood restaurant, partly because their hot and silky New England Clam Chowder is to die for, partly because of the endless options from the Wine Spectator Award of Excellence winner’s two-story wine cellar, and mostly because of the spectacular views. We got a table for two on the top level, right up against the glass on the lighthouse side facing Rainbow Lagoon, which is cradled by another must-experience: the Shoreline Village shopping, dining and entertainment area. Little did we know we were in for a motorcyclist practicing before his nationally televised jump over the water at midnight. We got home in time to watch the successful feat. Talk about a rocking during a New Year’s Eve!

Wait . . . I forgot about dessert. Any night out should be capped with a stop at Long Beach Creamery, 4141 Long Beach Blvd., Long Beach. Warning: The decision between the Whiskey Vanilla, Burnt Caramel and Midnight Oolong ice creams is impossible. And there ain’t no beach near Long Beach Creamery.

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Airports, Archives, Global Trade Daily

The Role of a COVID-19 Vaccine in the Travel Industry

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Hope got rekindled in the heart of individuals, organizations, and nations following the news of producing a potent vaccine that could help end the COVID-19 menace. There has been a recorded increase in the travel industry’s activities with the renewed energy in people to resume travels.

Nations that earn primarily from the participation of foreigners in business, investment, tourism, and so on are hopeful that they can restore their economy and improve their citizens’ living standards when the virus’s vaccine is in use.

As we are expectant of the proper circulation of a vaccine, we should take a moment to analyze the changes the pandemic outbreak has made in our lifestyle, particularly traveling habits.

Ways in Which the Pandemic Outbreak Positively Affected Travels

As much as COVID-19 has presented us with significant challenges, the pandemic outbreak did not leave us without some blessings. In response to the deadly virus, several changes got incorporated, which has improved traveling for good.

The continuation of these changes despite the vaccine’s availability will do both the travel industry and passengers a great deal of good. These changes and policies adopted include the following:

Flexibility

Airlines became a lot more flexible with their payment and refund policies since the outbreak of the COVID-19 pandemic. Various airlines offered a full refund of fares for booked or paid flights to countries with travel bans. Several airlines employed different means to make payment a lot more comfortable for their passengers.

Maintaining flexibility, regardless of the vaccine, could change travel for good. Not to be too hopeful, these airlines might withdraw some of these leniencies, but many would remain.

Traveler’s Behavior

Travelers now prepare adequately for travels. It makes it a lot easier for airlines to control boarding. People are more careful about their health and, as such, are more responsive to regulations. This habit has been a good chance for travels since the onset of the pandemic.

Health and Safety Protocols

The airline now prioritizes safety and health protocols. Airplanes are now well cleaned and sanitized to ensure a virus-free environment.

One would also notice a very high degree of orderliness at the airport due to the social distancing protocol. People do not have to crowd themselves in the queue, making traveling a lot more stress-free for passengers.

Expected Positive Impacts of the COVID-19 Vaccine

With a proper circulation of the vaccine, where everyone can have access to vaccination at an affordable price, travel will experience a significant change for good. Considering how much influence the pandemic outbreak had on our traveling habit, we expect to record the following changes:

Improved Travel Experience

With the release of the COVID-19 vaccine, traveling will be a lot easier. Several boarding protocols that stress out travelers, like getting tested for COVID-19, maintain social distancing at the boarding gate, arriving at the airport many hours before take-off time, may be relaxed. We can finally return to a more comfortable process with the provision of the vaccine.

Cheaper Fares for Travelers

With the vaccine, airlines can allow more passengers on board a flight. It will help reduce flight fares as more people can share the burden of transportation cost per trip. A lesser fee will make transportation more affordable, and people can plan for more trips than before.

Assurance of Safety

The major discouragement with travels was the fear of safety. Several travelers canceled their trips except when it was inevitable. The vaccine would mean that people can now tour the world without fear of contracting the coronavirus disease. They also do not stand as a threat to others’ safety while visiting new places, so long as they have the necessary vaccination.

Reduced Cost on Maintenance of Health

People now have to spend less on maintaining their health with the vaccine. Airlines can also reduce the cost of ensuring a highly hygienic travel environment by the COVID -19 standard. Several regular travelers had to forfeit planned trips because they cannot afford the potential cost of maintaining their health condition if they probably got down with the virus. With this out of the way, traveling will become much more feasible.

Even with the hope of a new vaccine, we have to ensure that we plan adequately for safety ahead of a trip. It would be best if you had all you will need while in another geographical location. You must get an international driver’s license in the likelihood that you will have to drive yourself around while on your trip.

Significant changes have begun already, with the news of the vaccine around the corner. We all cannot wait to experience our world once again, without the fear of a pandemic.

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Archives, Commentary, Global Trade Daily

Why A Vaccine For COVID-19 Won’t Restore Small Businesses Overnight

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The vaccine for the COVID-19 virus recently began shipment. The Wall Street Journal states it will take until sometime in March of 2021 to vaccinate the first 100 million individuals with the highest priority of getting the vaccine. That would leave well over  200 million Americans still in need of the vaccine as we head into spring.

The stock market is doing very well as it hovers around 30,000 – an unbelievable achievement never seen before, even though millions of people have lost their jobs and people continue to lose their jobs on a daily basis. The stock market is based on the theory of expectation, and what it is telling us is that with a vaccine, the economy will begin to turn around and will be much better going forward.

But let’s look at this through the eyes of small businesses.

Outside of government, companies with less than $7 million in sales and fewer than 500 employees are widely considered small businesses by the U.S. Small Business Administration. And the expectation for small businesses to return to what we considered normal pre-pandemic is not going to happen anytime soon.

Here’s why. Multiple states have banned indoor dining at what remaining restaurants are still open. As of Dec. 1, nearly 17% of U.S. restaurants were “closed permanently or long-term,” according to a study by the National Restaurant Association. That percentage amounts to over 110,000 service-industry businesses across the country.

The last known numbers reported at the end of September for businesses in total that had closed were approximately 170,000. And since that time, the total has possibly exceeded 200,000. It is hard to determine how many people have been affected. In November 2020, the national unemployment level of the United States stood at about 10.74 million unemployed persons, which equates to a little over 10%. However, this number only tracks the number of people who are unemployed. It doesn’t record the people who are not drawing unemployment benefits and are out of work. So, in reality, the number is larger than the 10.74 million.

With businesses closing and laying people off, no jobs for people to replace what they lost, and no income for the owners of the businesses, vaccine or no vaccine there is not going to be anyone working to turn the economy around. It will take most of 2021 to make the vaccine available to the millions of people who will want it, but many of the unemployed still will have no work to go to after they get the vaccine and the economy continues to sit.

The economists tell us there will be a surge in business once a vaccine has been made available and administered to the public, but the numbers tell us differently. And here is the biggest kicker of all that the economists have not figured into the equation: People’s habits have changed over the past year.

People are not buying as many clothes as they used to because they have nowhere to go. There is little dining, virtually no entertainment, and no gatherings, so there is no need to buy new clothes. Fuel sales are down because people are not commuting to work like they used to. Any business or venue that needs a gathering of people to remain in business is either closed or ignored due to government restrictions.

It is obvious that small businesses are not going to return to pre-pandemic levels with so many businesses closed in such a short time period. We are looking at 2022 at the earliest before the idea of normalcy begins to occur. And when the economy does begin to turn around, some of our favorite businesses we used to visit will be gone. Businesses cannot survive as long as the states keep changing the rules, which creates volatility in the marketplace. Entrepreneurs and investors seek opportunities but shun regulation and volatility, which can disrupt the flow of business. We eventually will see a surge in small businesses opening, but until then small businesses are on a declining slope.

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Terry Monroe (www.terrymonroe.com) is founder and president of American Business Brokers & Advisors (ABBA) and author of Hidden Wealth: The Secret to Getting Top Dollar for Your Business with ForbesBooks. Monroe has owned and operated more than 40 different businesses and sold in excess of 800 businesses. As president of ABBA, which he founded in 1999, he serves as an advisor to business buyers and sellers throughout the nation. As an expert source he has been written about and featured in The Wall Street Journal, Entrepreneur magazine, CNN Money, USA Today, CEOWORLD, and Forbes.

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Archives, Global Logistics, Global Trade Daily, Special Reports

From Employee To Entrepreneur: Becoming Your Own Boss in 2021

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Maybe you’ve dreamed of launching your own business for years but couldn’t summon the nerve – or the capital – to pull it off.

Perhaps 2020 proved disastrous to your career aspirations when the company you worked for downsized or shut down altogether – and out the door you went.

Either way, 2021 could be the time to ask yourself this question: Are you ready to go from employee to entrepreneur?

It’s an easy question to ask, but a more difficult one to answer, says Adam Witty, himself a successful entrepreneur and the ForbesBooks co-author of Authority Marketing: Your Blueprint to Build Thought Leadership That Grows Business, Attracts Opportunity, and Makes Competition Irrelevant.

“Maybe for someone who lost their job this year, it’s an easier call because they aren’t giving up something to make the move,” says Witty, who also is the founder and CEO of Advantage|ForbesBooks (www.advantagefamily.com).

“For them, this might be the perfect opportunity to finally give in to any entrepreneurial urges. But leaving full-time employment with its relative security, regular paycheck, predictable infrastructure and perks is a different matter and requires a certain kind of courage.”

After all, success is not guaranteed. About 20 percent of small businesses fail in their first year, and half succumb by year five, according to the Bureau of Labor Statistics.

But for those considering taking the plunge, Witty has advice:

Look before you leap. Starting a business requires a certain amount of risk, but that doesn’t mean you should be foolhardy. “While I agree you have to commit to any endeavor for it to succeed, I’m also pragmatic enough to know that the risk must be balanced.” Witty says. “Have a comfortable safety-net before you jump. Chances are, debt will outweigh income at the beginning. So, for those currently employed, take advantage of the income from your full-time position before you cut ties.”

Consider doing what you already know. For many entrepreneurs, success can be attributed to the fact they started a business in a field they were familiar with because they worked in it or already had expertise in it. “They had seen their industry from the inside and acquired a keen understanding of both its potential and its constraints,” Witty says. “That’s not true for everyone, but in the cases where it is true it definitely can make for a more solid transition, and increase the likelihood of success.”

Be adaptable. Witty says one thing that separates successful businesses from ones that fail is the ability to adapt to changing circumstances. “Being adaptable doesn’t mean just introducing a new product to your realm of offerings,” he says. “It requires constant attention to what’s going on in the world, analyzing your competitors, and most importantly, not getting too comfortable at the top of the pyramid. The business cycle is much like a StairMaster – once you get to the top, you have to keep climbing to stay up there.”

Ultimately, though, the only way to truly find out whether a person can succeed as an entrepreneur is to do it, no matter how unsettling that first step might be, Witty says.

“Making the shift from the steady life of a full-time employee to the unpredictable world of entrepreneurship takes smarts, guts and support,” he says. “But you’ll never know if it’s right unless you embrace the risk.”

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Adam Witty, co-author with Rusty Shelton of Authority Marketing: Your Blueprint to Build Thought Leadership That Grows Business, Attracts Opportunity, and Makes Competition Irrelevant, is the CEO of Advantage|ForbesBooks (www.advantagefamily.com). Witty started Advantage in 2005 in a spare bedroom of his home. The company helps busy professionals become the authority in their field through publishing and marketing. In 2016, Advantage launched a partnership with Forbes to create ForbesBooks, a business book publisher for top business leaders. Witty is the author of seven books, and is also a sought-after speaker, teacher and consultant on marketing and business growth techniques for entrepreneurs and authors. He has been featured in The Wall Street Journal, Investors Business Daily and USA Today, and has appeared on ABC and Fox.

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Rising Application in Residential Sector to Foster Range Hood Market Size by 2026

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Increasing concerns regarding food safety and hygiene around the world are driving the range hood market growth. The development of new restaurants and hotels in Europe and the Asia Pacific is fueling product demand. Several restaurant owners are using kitchen hoods in order to follow food safety and restaurant hygiene guidelines put forth by local governments.

Range hoods are generally installed in commercial and residential kitchens for the removal of fumes, heat, smoke, airborne grease, and combustion products. Although the recent COVID-19 pandemic induced lockdown has caused restaurants, hotels, and cafes to shut down operations temporarily, estimates suggest that the range hood industry could grow substantially owing to the revival of the economy after the pandemic.

Given rising significance and demand, firms operating in the range hood market are developing new products that are rigged with advanced features. For instance, in 2018, major electronic goods company, Panasonic Corporation launched its new and enhanced chimney type range hood having modern features including an electronic soft-touch glass panel and a smoke duct adaptor. With such advancements, Global Market Insights, Inc., estimates that the range hood market may record over USD 9.5 billion by 2026.

Based on the product, the range hood market is divided into ceiling mount, wall mount and under a cabinet. Of these, the ceiling mount range hood segment is experiencing significant growth owing to increasing consumer inclination towards modular kitchens. Ceiling kitchen hoods are mainly made for modular kitchens with the nob or stove positioned in the middle of the kitchen, allowing multiple users to cook simultaneously. These hoods are available in various colors, shapes, materials, and sizes, which is boosting their popularity in modern kitchens.

In terms of application, the range hood business is bifurcated into residential and commercial. Out of these, the residential segment is anticipated to register the highest market share over the forecast period on account of the shifting preferences of consumers towards modern, advanced kitchen cleaning appliances over traditional cleaning systems like fans.

From a regional standpoint, the North American range hood market is witnessing increasing demand owing to the implementation of stringent government regulations on food safety and hygiene in hotels and restaurants.

While the global range hood market consists of firms such as Asko Appliances, KOBE Range Hoods, Zephyr Ventilation, Faber S.p.A, Broan Inc., Vent-A-Hood, Viking Range, LLC, Panasonic Corporation, Windster Hoods, CaptiveAire Systems, Fotile Overseas Kitchen Appliance, BSH Group, Samsung Electronics, Elica S.p.A, Miele, Inc., and Whirlpool Corporation. These companies are adopting different business strategies such as new product development and geographical expansions in order to enhance their market position.

Source: Global Market Insights, Inc.

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Archives, Global Trade Daily, Special Reports

U.S. Cities Most Reliant on Tourism

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The Bureau of Labor Statistics reported that the U.S. unemployment rate fell to 8.4 percent during the month of August. This represents a sizable decrease from the record-high rate of 14.7 percent notched in April during the middle of the economic shutdown, but still millions of Americans remain unemployed.

The hospitality industry has been particularly hard hit by the COVID-19 pandemic. As of last year, over 14 million people (or 9.4 percent of all workers) were employed in accommodation and food services, which includes hotels, casinos, restaurants, and bars. However, the industry accounted for almost one-third of all job losses due to the pandemic. BLS data shows that the industry has gained back over 3.7 million jobs since April, but unemployment remains high, at 20.8 percent.

The share of workers in restaurants and hospitality varies considerably on a geographic basis. Popular destinations among tourists like Nevada and Hawaii have the largest shares of workers in the sector. Over 22 percent of non-farm workers in Nevada are employed in the accommodation and food services industry, while Hawaii has over 17 percent. Nebraska and Connecticut have the lowest shares of workers in accommodation and food services, both at 7.6 percent.

To find the metropolitan areas that are most reliant on tourism, researchers at seoClarity analyzed the latest data from the U.S. Bureau of Labor Statistics and the Bureau of Economic Analysis. The researchers ranked metro areas according to share of non-farm employment in the accommodation and food services industry. Researchers also calculated the total number of accommodation and food services workers, total (non-farm) workers across all industries, the overall unemployment rate in April, and the cost of living.

To improve relevance, only metropolitan areas with at least 100,000 people were included in the analysis. Additionally, metro areas were grouped into cohorts based on population size. In the report, small metros have between 100,000–349,999 residents; midsize metros have between 350,000–999,999 residents; large metros have at least 1,000,000 residents.

Here are the large metropolitan areas that are most reliant on tourism.

Metro Rank Share of employment in Accommodation and Food Services Total Accommodation and Food Services workers Total workers across all industries Overall unemployment rate (April 2020) Cost of living*
Las Vegas-Henderson-Paradise, NV 1 26.2% 270,600 1,034,100 34.0% 3.2% below average

 
Orlando-Kissimmee-Sanford, FL 2 14.0% 185,700 1,327,100 16.8% 1.3% below average

 
New Orleans-Metairie, LA 3 13.5% 78,900 583,400 19.0% 5.9% below average

 
San Diego-Chula Vista-Carlsbad, CA 4 11.4% 171,700 1,503,900 15.0% 16.4% above average

 
San Antonio-New Braunfels, TX 5 11.2% 121,300 1,078,700 13.3% 6.1% below average

 
Austin-Round Rock-Georgetown, TX 6 10.8% 120,500 1,116,000 12.2% 0.2% above average

 
Miami-Fort Lauderdale-Pompano Beach, FL 7 10.4% 283,700 2,718,100 13.4% 9.9% above average

 
Jacksonville, FL 8 10.2% 74,200 724,400 11.2% 4.5% below average

 
Riverside-San Bernardino-Ontario, CA 9 10.1% 155,200 1,541,800 14.7% 7.0% above average

 
Tucson, AZ 10 10.1% 39,500 389,600 12.8% 6.1% below average

 
Los Angeles-Long Beach-Anaheim, CA 11 10.0% 621,400 6,239,500 18.8% 17.1% above average

 
Virginia Beach-Norfolk-Newport News, VA-NC 12 10.0% 79,700 795,300 12.1% 3.0% below average

 
Tampa-St. Petersburg-Clearwater, FL 13 9.9% 136,600 1,384,700 13.2% 1.0% below average

 
Houston-The Woodlands-Sugar Land, TX 14 9.4% 295,700 3,156,200 14.3% 1.8% above average

 
Denver-Aurora-Lakewood, CO 15 9.4% 144,800 1,536,000 12.3% 4.9% above average

 
United States – 9.4% 14,142,600 150,939,000 14.4% N/A

 

For more information, a detailed methodology, and complete results, you can find the original report on seoClarity’s website: https://www.seoclarity.net/blog/us-cities-most-reliant-on-tourism

This article originally appeared on seoClarity. Republished with permission.

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Archives, Departments, Executive Getaways, Global Trade Daily

ALL HAIL ATL: THERE IS A LOT TO SEE AND EXPERIENCE FIRST-HAND IN ATLANTA

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If you are lucky enough to find some free time while visiting Atlanta for business, get ready for some memorable experiences. Because we understand that business trips have to be paired with a little bit of pleasure, we searched some of the local hot spots in Atlanta that have a reputation for offering a good time, great eats and even greater memories to share among colleagues.

Each place listed below offers something unique and beyond the typical wine-and-dine experience. There is a lot to see when visiting the great city of Atlanta, but even more to experience first-hand. So, without further delay, here are our latest picks for your business trip getaways.

LOCKER CLUB

Because, who does not appreciate a speakeasy, especially in a new space after a long day of networking? Just hope that you find yourself in Atlanta on a Thursday-Saturday evening because this hidden gem has limited hours for tours. Located in the Old Fourth Distillery on Old Fourth Ward’s Edgewood Avenue, Locker Club offers patrons a Prohibition-style touring experience while serving up some high-quality spirits and the ideal environment for your next business trip adventure. Locker Club provides a journey through history in the region back to a time when alcohol was not so easy to come by. The Old Fourth Distillery is the first distillery to be opened in Atlanta since 1906 and takes pride in its environmentally friendly methods in creating authentic and high-quality spirits from gin and vodka to straight bourbon whiskey. A team of three (yes, three) people start from fermentation all the way down to packaging all of their vodka and gin with the help of a customized, handmade CARL copper still. It goes without saying that the small-but-mighty team here likes to do things a bit differently and has no problem sharing their unique process with the locals and visitors.

RAY’S BY THE RIVER

Part of the Ray’s Restaurants, LLC trio, Ray’s by the River not only offers award-winning eats but pairs them with scenery and an experience you are sure to remember once you unpack your suitcase back at home. Choose to sit at the newly renovated riverside pavilion and take in the matchless views of the Chattahoochee River or dine inside and experience the balmy ambiance and colorful outdoor views. While enjoying some tasty menu options such as their hand-cut steaks and surf-and-turf specialties, be sure to give one of their signature, hand-crafted cocktails a try. Missed happy hour? Not to worry because Ray’s has two for you to take advantage of. If you miss their 3:30-7 p.m. happy hour, they start it up again from 9 p.m. to closing time during the week.

WORLD OF COCA-COLA

Even if you are not a Coca-Cola drinker or are a die-hard Pepsi fan, there is something for you at the World of Coca-Cola that you can appreciate, enjoy and take with you. Beyond its fascinating history and more than 200 international artifacts throughout the Loft, your taste buds are in for a treat at the Taste It! exhibit experience offering samples of what Coca-Cola is like around the world. Curious about the history of the coveted Coca-Cola recipe? Now you can get a close-up look at the history, myths and legends, and even the origins of the recipe at the Vault. This interactive experience gives guests a hands-on experience to see exactly what it takes to create that perfect recipe and flavor with the Virtual Taste Maker. Once your taste buds have had enough, head on over to the 3-D theater and give other senses an experience with the film In Search of the Secret Formula. On your way out, stop by Bottle Works to get a peek behind the curtain of what Coca-Cola’s bottling process looks like from equipment to processing.

DELTA FLIGHT MUSEUM

The Delta Flight Museum celebrated its 25th anniversary this past May. Along with that milestone, Delta celebrated 90 years of services in the Atlanta region. Regardless of your profession, visiting the Delta Flight Museum should absolutely be on your list when visiting Atlanta. Visitors are given a tour through Delta’s rich history through the museum’s two original 1940s-era aircraft hangars and its 747 Plaza full of exhibits and factoids. When visiting the hangars, guests are given an up-close and personal view of Delta’s aircraft and history beginning in the 1920s. Interactive exhibits offer visitors more than Delta’s history, however, with its one-of-a-kind full-motion flight simulation training session. This is an experience that is sure to make your friends back home jealous as this is the only full-motion simulation available for public use in the country. If you prefer to stay in the exhibit areas, be sure to stop by the restored 1940 Douglas DC-3 and the Waco 125 biplane–it will probably be the only time you will ever see aircraft like these in person. The museum’s Waco 125 is the only one like it remaining. Trust us on this one, you do not want to miss the Delta Flight Museum.

POUR TAPROOM

Known for its “beer and wine festival every week” theme, Atlanta’s Pour Taproom is every beer and wine lover’s dream. This local hot spot is quite literally a taproom perfect for anyone seeking a unique (and delicious) experience with local craft beers and wine on tap. If you consider yourself a beer connoisseur, Pour Taproom is sure to have something you will want some more of. With regularly rotating selections and the ability to purchase by the ounce instead of the glass in a self-serve approach, your visit to the Taproom is sure to be an experience you will not find back home. Pick from a variety of craft beers ranging from IPAs, sours, darks, ciders, lights and wine while. Taking in the local scene on the relaxing and contemporary patio. Hungry? There are food options that pair nicely with whatever you choose to satisfy your beer or wine cravings. Oh, and did we mention the “Beer Me” button?

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Archives, Global Trade Daily, Special Reports

As Consumer Habits Change, How Can Businesses Keep Up?

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American consumers don’t act and buy the way they did just a few short months ago – at least most of them don’t.

The pandemic and the need for social distancing led to an upsurge in online buying. Takeout and delivery replaced, at least temporarily, dining out. Many consumers, worried about the health risks of spending time in grocery stores, turned to services that would do their shopping for them.

Now, as the country tries to reopen and seek the next normal, businesses across the nation must figure out which of those consumer behaviors will become permanent, which were temporary, and whether any new ones yet unthought of might emerge.

“We live in a time when information can become outdated pretty quickly, and that’s become even more true because of COVID-19,” says Janét Aizenstros (www.janetaizenstros.com), a serial entrepreneur and the chairwoman and CEO of Ahava Digital, a company that ethically sources data on American consumers.

“The businesses that are going to succeed moving forward are those that grasp what consumers want and understand their changing habits.”

In contrast, those businesses that fail to understand what the latest consumer data is telling them, and are slow to adapt to the changes in consumer behavior, are going to be at risk, Aizenstros says.

She says going forward, businesses need to:

-Be prepared to pivot. Business leaders must be flexible. Many restaurants figured that out when the pandemic began, Aizenstros points out. Patrons could no longer dine-in, so the restaurants put an emphasis on takeout and delivery services. In the same way, each business will need to figure out how it can adapt and adjust its services or products to meet what customers want and need, she says.

-Gather reliable consumer data. With the internet, social media and numerous other sources, there is plenty of information available today about consumers, but not all of it is reliable. Make sure data comes from a quality source and that it reflects as much as possible the current thinking and behavior among consumers, Aizenstros says. “Businesses that fail to use reliable data and stay on top of the consumer trends,” she says, “will have a difficult time thriving as we go forward.”

-Take steps to make consumers feel comfortable. Even as people venture out more to dine in restaurants or shop in person, a Gallup survey shows they still plan to exercise caution. Businesses can help themselves by letting consumers know what steps they are taking to keep their stores, restaurants, and offices as safe as possible. “This is just another example of understanding and keeping up with what consumers want,” Aizenstros says.

Businesses have always had their plans and operations disrupted by both technological advancements and changing consumer habits. But rarely does consumer behavior evolve as quickly as it did in the early months of 2020 – and the changes didn’t always happen in easily predictable ways.

“Some areas such as home decor and fashion have done well recently,” Aizenstros says. “At the same time, we are seeing trends with businesses like J.C. Penney, Hertz and others struggling and filing for bankruptcy. It’s hard to keep up with consumer thinking unless your data is consistent, relevant and accurate. But if you understand what your customers want and work to give it to them, your business will have the opportunity to prosper.”

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Janét Aizenstros (www.janetaizenstros.com) is a serial entrepreneur and the chairwoman and CEO of Ahava Digital, which provides businesses and investors with ethically-sourced verified data about American consumers. Her background includes roles in finance at TD Canada Trust, Canon, and Brookfield LePage Johnson Controls, along with management consulting in a broad range of functions, such as supply chain operations, data analysis, and strategic thinking. She has a doctorate in metaphysical sciences with a specialization in conscious business ethics.

coronavirus
Archives, Global Trade Daily, International Trade

How the Coronavirus Pandemic has Diversified UK Business

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As the Coronavirus pandemic has altered our ways of living and working – potentially for good – it has sent shockwaves through areas of UK business previously thought untouchable.

The thriving food and hospitality sector has steadily grown over recent years but faces an uncertain future as social distancing becomes a new norm of everyday life.

Of course, some industries have enjoyed something of a boon during the lockdown as their products, services, and expertise have come to the fore, or been adapted to suit the needs of the population.

How have businesses altered their offering?

Many eateries have kept afloat by switching their sit-down service to take-out or delivery, while robotic delivery of food and drink in Milton Keynes could offer a glimpse into the future of the industry, long after Covid-19’s grip on our daily lives has subsided.

The airline industry has been similarly decimated as planes have been grounded but swapping passengers for cargo has allowed some to maintain business.

Land-based delivery services have thrived, especially those connected to online shopping, like our trips to the high street or retail centers have been curtailed by the lockdown.

This has not come without the need for a change to regular services, however, with health and safety now more paramount, businesses have needed to be agile in swiftly adapting sanitary and sterile methods of delivery especially when dealing with at-risk customers.

Can businesses help in the fight against Coronavirus?

Some of the biggest swings in business have seen entities completely change their line of work in a bid to help fight the virus.

Producing personal protective equipment (PPE), such as masks, gowns, and gloves, has become a priority for many textile companies.

In the bid to build more hospital equipment, Formula 1 teams used their engineering might take on the task. World champion outfit Mercedes produced a ventilator which was used in a trial by the NHS and made the plans freely available for other manufacturers to build their own versions.

As the need for clear public communication has risen, printing business instant print was marked as NHS supply chain critical, producing an adapted product range including posters, signage, floor stickers and more to be used in a host of healthcare settings.

Will UK businesses recover after Coronavirus?

This is a tricky question to answer, as to how our daily lives will look once the pandemic subsides remains a grey area.

As scientific exploration into the virus continues, the threat of a ‘second wave’ of illnesses sweeping the world is set to make the resumption of our previous ways of life something that is implemented slowly, if indeed some things we used to take for granted ever do return to our daily routines.

Work settings may change, infrastructure will likely have to be adapted to suit a more socially distant population. How crowds gathering in shops, restaurants, bars, concerts, sporting events and more will be managed is almost impossible to predict as simply containing the virus still remains the highest priority.

As some countries begin to tentatively emerge from lockdown and try to get to grips with a ‘new normal’, the world will look to the likes of Australia and New Zealand for cues, while China has also looked to restore many of the social liberties that were taken away when the virus began to spread in its Hubei province.

If your business has been impacted by the Coronavirus, perhaps some of the examples above can help guide you through the rocky times or inspire a change of direction that may bring greater success once the pandemic passes.