{"id":4083,"date":"2021-08-25T19:21:30","date_gmt":"2021-08-25T23:21:30","guid":{"rendered":"https:\/\/lgcassocprod.wpengine.com\/?p=4083"},"modified":"2024-03-13T08:35:41","modified_gmt":"2024-03-13T12:35:41","slug":"hospitality-can-learn-from-retail-2","status":"publish","type":"post","link":"https:\/\/lgcassociates.com\/es\/hospitality-can-learn-from-retail-2\/","title":{"rendered":"Hospitality in the News | What Hospitality Can Learn from Retail"},"content":{"rendered":"

Every week we comb through the news to find employment trends affecting the hospitality industry so you don\u2019t have to. This week\u2019s topic: what hospitality can learn from retail.<\/span>\u00a0<\/span><\/p>\n

In the\u00a0<\/span>first part<\/span><\/a>\u00a0of this three-part series, we\u00a0looked\u00a0at\u00a0some of the ways the hospitality and retail industries are related, and what retail businesses can learn from hospitality businesses. In the second\u00a0part, we\u2019ll look at the opposite \u2013 what hospitality can learn from retail.\u00a0<\/span>\u00a0<\/span><\/p>\n

What Hospitality Can Learn from Retail<\/span><\/b>\u00a0<\/span><\/h4>\n

In order to understand what these businesses can learn from one another,\u00a0it\u2019s important to first talk about why the hospitality industry can\u00a0benefit from\u00a0some of the retail industry\u2019s practices.\u00a0Retail businesses prioritize efficiency and\u00a0the ability to\u00a0create\u00a0return customers. Plus, both industries are managing the challenges of an ever-growing digital economy.\u00a0By\u00a0taking cues and tips from one another, both industries can support\u00a0each\u00a0other’s\u00a0growth.\u00a0<\/span>\u00a0<\/span><\/p>\n

How to showcase bestselling items<\/span><\/b><\/h5>\n

Successful retail stores know that the layout of their business is directly tied to\u00a0revenue. Showcasing\u00a0specialty\u00a0products\u00a0in the right way\u00a0encourages customers to consider making a purchase.\u00a0Though some restaurants take this model into consideration when designing their menus\/layout, it\u2019s not common practice for every establishment.\u00a0By using specific psychology, you can draw\u00a0guests’\u00a0eyes to higher-priced items and help maximize your profits. (Check out these\u00a0<\/span>10 menu design hacks<\/span><\/a>\u00a0by Canva.)<\/span>\u00a0<\/span><\/p>\n

Efficiency practices<\/span><\/b><\/h5>\n

Long before the pandemic, the retail industry was\u00a0starting to update some of its\u00a0standard practices, like electronic payment options and online ordering\/pickup. Once\u00a0COVID-concerns increased, these efficiency updates became more in demand.<\/span>\u00a0<\/span><\/p>\n

Restaurants\u00a0have also begun to\u00a0improve their operations to make them more\u00a0streamlined. Though this was\u00a0already\u00a0happening before the pandemic,\u00a0various health and safety requirements helped move this update along. But still, there are more cues hospitality can take from retail that may continue to improve efficiency while prioritizing guest experience.\u00a0Some of these may include:\u00a0<\/span>\u00a0<\/span><\/p>\n

    \n
  • Allowing guests to close out their own check \u2013 think like\u00a0self-checkout in the grocery store.\u00a0<\/span>\u00a0<\/span><\/li>\n
  • Hosts can assist with filling\u00a0guests’\u00a0waters and other service-related tasks.<\/span>\u00a0<\/span><\/li>\n
  • Continue to\u00a0improve\u00a0online ordering,\u00a0delivery,\u00a0and pickup services.\u00a0<\/span>\u00a0<\/span><\/li>\n<\/ul>\n
    Importance of small details<\/span><\/b><\/h5>\n

    Retail businesses,\u00a0especially boutique stores,\u00a0tend to put an emphasis on small details like packaging.\u00a0Though it can be more expensive,\u00a0creating a specific brand theme can help customers\u00a0identify\u00a0you more easily \u2013 plus, it shows you\u2019re concerned about creating a consistent brand. Think of aspects like to go packaging, which could easily be branded to provide a more personal (and memorable) feel.\u00a0<\/span>\u00a0<\/span><\/p>\n

    Though retail and hospitality are separate industries, they both provide a service and goods to their audience. So, it\u2019s only natural for them to take cues from each other. Using the opportunity to learn what hospitality can learn from retail and vice versa means both industries can grow as our economy grows. <\/span>\u00a0<\/span><\/p>\n

    Stay tuned for part three of this series which addresses\u00a0how the retail and hospitality industries can continue to sustain during challenges\u00a0such as\u00a0the pandemic and our growing digital economy.\u00a0<\/span><\/i>\u00a0<\/span><\/p>","protected":false},"excerpt":{"rendered":"

    Every week we comb through the news to find employment […]<\/p>\n","protected":false},"author":67,"featured_media":312697,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[106],"tags":[406,538,486],"class_list":["post-4083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hospitality-in-the-news","tag-retail","tag-series"],"yoast_head":"\nHospitality in the News | What Hospitality Can Learn from Retail<\/title>\n<meta name=\"description\" content=\"Every week we find the top trends affecting the hospitality industry. 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