Digital marketing prospects of F&B sector in Bangladesh

Sadique UddinDigital marketing prospects of F&B sector in BangladeshAs a rising economy Bangladesh has gripped a handle on development at a brisk pace. The penetration of the telecom industry, mobile commerce and approach of web based applications by business and maintained by the tech amiable government accepts the development story that is going to expand in the e-space of Bangladesh. According to the Hotel Industry Report 2013 by Bangladesh Bureau of Statistics, the country’s Food and Beverage (F&B) industry has consistently seen a reliable development of more than 7.5 per cent since 2008, which is fuelled by the improvement of the local middle class and high GDP development rate.
Step by step, numbers of Internet customer are expanding in Bangladesh. Internet using penetration is increasing rapidly. As per Bangladesh Telecommunication Regulatory Commission (BTRC), more than 130 million individuals, out of Bangladesh’s populations of 160 million, use cell phone while around 60 million individuals have access to internet. More than 30 million individuals are utilising Facebook. The great part is that the utilising rate of social media is expanding as a part of a quick way. Additionally, more than one million individuals use Facebook as their first online networking among the others.
Marketing has for quite some time been a component of our daily landscape. But, the bang of digital culture has drastically changed the playing field and the directions, particularly for companies marketing F&B is at the front line of the diversion. The traditional marketing pattern is turning into a remarkable new world, as F&B industries draw from an extending toolkit of advanced online and social marketing strategies. Today, powerful and strong promotions are totally, flawlessly incorporated into people’s social connections and moment-by-moment associations.
Then again, country’s development pattern has significantly affected, in the course of the most recent couple of years, the way individuals experience their lives, communicate with each other as well as their consumption pattern and behaviour making it one of the most vital success features for several certain industries like F&B, other FMCG, Telco, Apparel, Footwear as well as Consumer Durable. The direct contribution of the hospitality to the country’s gross domestic product (GDP) is likely to rise by eight per cent in 2016, which was Tk 260 billion in 2015, according to industry experts. The F&B industry is a standout fast growing sector in Bangladesh. Competition in this sector has become very acute. Needless to mention that, with an emerging economy consumer spending, disposable income and personal savings are also experiencing a positive momentum. Bangladesh is a mammoth sized consumer market consisting of almost 160 million consumers. This huge consumer base is being driven by catalytic factors like:
l Age and gender distribution (60 per cent of the population being between 15-64 years of age)
l Increasing urban population (growing at a rate of 30 per cent+/year)
l Expanding labour force (increasing purchasing power of the mass)
l Increasing literacy rate (primary education enrolment is 95 per cent+)
l Rising middle class, growing white collar culture and globalization (youth influenced and linked with the globe via IT and social media).
With the ascent in income levels of the middle and upper class Bangladeshi population, in-country F&B industry has started to grow quite remarkably. Eating out is turning into a part of life to wealthier Bangladeshis, and this shift is contributing to the development of eateries, hotels and amusement facilities across the country. Besides, Social Media is the present overwhelming phenomenon of marketing and the best approach to get new audience for business or service in Bangladesh. Basically it can turn on business development. Social media can benefit the F&B industry. If you are an owner and run your hospitality business, you must consider the impact of Social Media’s power. These days’ people are more convinced by the digital media reviews, comments, likes, shares etc than the honest suggestions from friends. So, what people generally do is that they simply enter the digital world especially in the social media and check reviews, promotional packages and campaigns. Eventually, they find the best match on their own without asking for suggestions.
According to UCWeb Inc. 70 per cent people are heavy users of social media and over 39 per cent people spent 1-3 hours on social networking sites every day. In addition, 75.6 per cent people consider social networking site is good for their social life. Digital marketing has gladly taken this effect and amplified it to another level. However, as the most vibrant and effective member of digital marketing family, social media are now used to rate different restaurants and the trend has caught on.
In this course, Tarik Siddiki, Chief Marketing Officer, MetaConnect Says, “Technology is reclassifying how Food and Beverage industries recognise growth opportunities, work their industries, and supervise risk factors – and the industries that get and utilise these media most sufficiently are arranged to benefit by upgrading business conditions.” As the restaurant, food and beverage industry moves forward in the share of voice in social media, there are significantly more open doors for those in this industry to successfully draw in with consumers and secure measureable success.
Digital marketing (social media) service has the power to bring about growth by spotting opportunities and engagement. With alterable tastes, patterns and inclinations, the customers are forming the food business with a voracious longing for change. Social media allows restaurants and food brands to proactively spot mushrooming trends and change, responding with strategies to maximise their custom. In this variable industry it is essential for F&B service providers to stay up with the consumer interest and opinion in order to react and adapt quickly.
A significant number of the top eateries and food names in Bangladesh are dynamic on online networking. Many of the top brands have very large active groups/fan pages which are communicating with their consumers daily, embracing feedback and suggestions to give their customers more of what they want. Many adverts on television or radio within the industry now incorporate social media links as the likes of Facebook are ideal platforms to entertain, engage and educate their audience along with offering promotions and competitions.
The results are that businesses within the hospitality industry can promptly draw in with consumers and update their products or services for quick improvements that have enormous pay off in the long haul. Like other business entity, the F&B industry too needs to have a holistic digital marketing strategy and there are plenty of options available in the marketplace. Thanks to rapidly evolving technology, the digital marketing for the F&B sector is constantly advancing. Social media marketing helps the owners improve a better customer relationship management. This is quicker and more interactive than the conventional medium.r