Corporate and group dining is often overlooked when running a F&B business. Corporate entertaining and dining is highly coveted, but brings with it unique challenges to attract, engage and retain this high-value customer segment.
Singapore’s F&B industry is a thriving but challenging one. With over 2,700 full-service establishments, Singaporeans have more than twice as many dining options as their counterparts in Hong Kong. It is crucial to think beyond engaging the local population when promoting your restaurant.
Beyond events packages and an events team, it is essential to have in place active sales and marketing partnerships with Corporates and Meetings, Incentives, Conventions and Exhibitions (MICE) channels to help you seize a pie of the US$200bn Asia-Pacific business events industry. Singapore is already a top business and MICE destination hosting over 3mil international business visitors and 400 large-scale MICE corporate events annually.
Restaurants and Bars need to start understanding the business customer and think of a plan and strategy for developing group events and experiences to capture the high-value Asian business dinner.
Here are the 5 things you need to know: