Latest Business Trends this 2023!

Living in a world where the only thing constant is change, staying relevant is crucial. 

But with the fluctuating market landscape continuing to change, entrepreneurs must be able to keep up with the trend. Take a look at some of the latest news and trends in businesses this 2023 and check what you could apply to your business!

 1. The Pace of Digital Change

 It seems as though every day we are welcomed by new innovations and advancements that offer us a much more efficient way to various processes that have the power to drastically change our way of living. As we get to understand how this change is becoming more prevalent, businesses need to step up and start integrating the right technology into their business processes.

 2. A Demand for Corporate Social Responsibility

As the effects of climate change become more evident, people are now demanding action from businesses to do more than just pass the responsibility of recycling to consumers. As this demand grows, businesses are under increasing pressure to produce environmentally conscious products, and business owners who are able to meet this demand are seeing significant support and returns.

For businesses that are able to embrace sustainability and prioritize the planet alongside profit, the opportunities for growth and success seem to be leaning toward a positive light. 

3. A More Interactive Customer Experience 

Customers crave experience but it doesn’t mean sacrificing good value and high standards. Both contribute in some way to the satisfaction we get from choosing, buying, and using the things we pay money for. 

The role that technology plays here is to ease users’ lives by making things easier and more convenient. Most digital marketing AI and algorithms aim to improve the user experience. Take, for example, search engine optimization (SEO), an innovation designed to provide users with better access to content relevant to them. By using this, it creates a better experience for the customers as it gives them convenience and easy access to the information catered to their liking. It’s clear to see that businesses need to put resources into digital marketing to better serve their customers by enhancing their online experience

 Letting this all sink in, we get to see that we are now living in a world where the dynamics have been drastically changed because of various trends, and because of this, it prompts businesses to remain ahead of the game by being flexible and adaptable.

See our services to help your business be equipped and thrive to market your brand this 2023.

Loyalty Program Studies Shows Success for Business in The Philippines 2023

Too many businesses are busy finding solutions to lowering costs and they often overlook that building close relationships with customers through a loyalty program is one of the most economical ways to keep costs down. So, how does keeping customers convert into financial gains? 

Think about how much it costs to keep an existing customer happy compared to how much it costs to bring in a new one. Advertising and marketing are costly investments that may add up quickly when trying to bring in new customers. The average cost of acquiring a new customer is five times more than keeping an existing customer. And that speaks volumes. 

If ever you’re eyeing to create a loyalty program for your business, here are some benefits you would get that you can think about as you weigh all your choices: 

1. Increased Customer Retention 

Loyalty programs are an efficient method of increasing customer retention, which is a key aspect of any company’s overall success. Businesses can encourage customers to continue purchasing from them by providing such incentives, hence raising customer retention rates. In fact, according to an Accenture survey, loyalty program members in the Philippines spend 12% more on each transaction and 27% more annually than non-members. This increased spending translates into better revenue for firms.

 
2. Enhanced Customer Engagement 

Loyalty programs also help businesses to engage with their customers in a more personalized and meaningful way. By collecting customer data such as purchase history, preferences, and demographics, businesses can create tailored marketing campaigns and promotions that resonate with their customers. For instance, a study by Colloquy found that 54% of Filipinos want personalized offers and recommendations from loyalty programs. By providing such personalized experiences, businesses can build stronger relationships with their customers and increase customer loyalty.

 3. Improved Brand Loyalty

Loyalty programs not only improve customer loyalty but also foster brand loyalty. Customers who have high regard for a brand are more inclined to share and promote the brand to others, resulting in more customers and increased revenue. Additionally, it was also stated from a study by The Loyalty Report that 79% of Filipinos would promote and recommend a brand to others if their experience with regards to the company’s loyalty programs are good. By providing a positive and rewarding loyalty program experience, businesses can enhance brand loyalty and gain new customers through word-of-mouth marketing. 

4. Increased Customer Lifetime Value

 Lastly, loyalty programs can increase the lifetime value of customers for businesses. By encouraging customers to make repeat purchases and spend more, businesses can increase the revenue generated from each customer over their lifetime. According to a study by Bond Brand Loyalty, loyalty program members in the Philippines have a higher customer lifetime value, spending an average of 39% more than non-members. This increased spending over the customer’s lifetime translates to higher revenue for businesses. 


We can see that Loyalty programs have proven to be successful for businesses in the Philippines – it’s even backed up by multiple studies that indicate how creating one could result in an increase in customer retention, engagement, brand loyalty, and customer lifetime value. So what’s there to think about? Start and take advantage of this marketing strategy before it’s too late! Start your loyalty program with ZAP– the No. 1 Loyalty Program Provider in the Philippines.

ZAP’s Loyalty Food and Beverage Merchants: A Testimony

If you’re in the Food and Beverage Industry in 2022, transitioning into digitized service to make a more efficient and effective marketing approach is the game to serve your food and drinks better. 

Here’s a closer look at how digitalization has helped restaurants bounce back. Hear from our Loyalty Merchants! 

The Rise of Digitalization on The Food and Beverage Industry: 

The USDA’s Foreign Agricultural Service (FAS), expects six percent sales growth in the Philippine Food and Beverage Industry. It’s because of the rise and transition of businesses being able to make their products and services available online and implementing loyalty programs for their customers. 

Digitalization has aided restaurants in operating more efficiently with the implementation of self-ordering kiosks, which is ideal for collecting relevant customer data, reducing the time and money spent on manual errors, and cutting down on labor costs.

The rise of digital technology have helped restaurants provide more than dine-in offerings. It has allowed customers to enjoy their food without leaving the house. Contactless payments, delivery services, online and in-app ordering options, loyalty and rewards programs, drive-thru, and curbside pickup are some examples of innovations restaurants are trying to adopt.

Testimonies of ZAP’s Loyalty Merchants:

ZAP’s Loyalty Program: Even Beyond Covid-19

Launching a membership program can be daunting as it is something new to your marketing strategy. With the ZAP team, we make your life easier by offering premium account management services. We will guide you through the creation of the program, launch and in-store training.

ZAP’s Loyalty Program enables merchant’s to recruit loyal customers and make their membership and shopping experience exciting! With the Philippines’ growing Food and Beverage Industry, sustaining your company’s edge in the marketplace is a must. Discuss your business with us!

E-Store: Is It The Right Medium for My Business? 

In the last five years, there has been explosive growth in numerous industries, and online shopping is only one example. In 2022, the global e-commerce sector is expected to reach a staggering $5.55 trillion, in fact, it is anticipated to increase even higher in the coming years. There’s no denying that the growth of e-commerce has changed the way people shop, and it challenges entrepreneurs to meet the demand of the consumers.

In the world of e-commerce, numerous technologies allow for fast responses and round-the-clock service, both of which greatly benefit the satisfaction of customers. With a fast-paced society and a very competitive industry, beginning an online store may be the best option. Given that an online store can operate without the overhead costs and limited space of a physical shop, it’s simple to see why so many business owners are drawn to this innovation. Read on to know more about well-known shops that have shifted to becoming E-stores and how it helped them thrive and stay in the market!

This is My Food Type Industry: Is E-store still for me? 

We can all see how both fast food joints and even fancy restaurants are  embracing technology to improve their customers’ dining experiences. Many businesses are making the transition to either switch or add online retail as a sales channel because it allows them to reach a larger customer base with fewer resources than are necessary for brick-and-mortar locations, but is it applicable to any type of industry? 

Below are some of the well-known businesses in the Food and Beverage Industry with different types of product offerings that utilize E-stores:

Vikings

Vikings is one of the best buffet experiences in the country, featuring a variety of flavours that can’t be found elsewhere. However, is there a need to shift to an E-store with this kind of industry? Vikings seemed to think it would be beneficial. Currently,  they have utilised different E-commerce approaches like loyalty programs, promos & discounts, and creating a website that allows customers to read blogs and reviews and be notified of current exciting deals! Their decision to add an E-store as another sales channel has made the buffet resto unlock new opportunities making Vikings more flexible with the different demands of customers- be it in physical stores or online! 

Macao Imperial Tea   

Macao Imperial Tea is best known for its Espresso line that offers ice-blended drinks and many other varieties of beverage that caters especially to sweet-tooth consumers. However, the milk tea industry has been emerging with more competitors making the market a tough sector to survive at. Competition in the milk tea market has heated up significantly over the years providing customers with a wider selection. Businesses risk losing customers if they don’t modify their strategies to accommodate the changing demands. Fortunately, Macao Imperial Tea has proactively decided to jump into the transition in establishing an E-store and has now adopted cashback points that entice customers to keep coming back! Currently, Macao is still one of the leading players in the market.

Jipan Cafe & Bakeshop  

On-the-spot bakery goods, including pastries, bread, and cakes, have made Jipan Cafe famous. Besides pastries, they also offer a variety of traditional Japanese dishes. But as we all know, baked goods and sushis are perishable inventory so if they aren’t sold today, they will most likely end up in the bin. By establishing an online presence, Jipan Cafe & Bakeshop has created another sales channel that would lessen the risk of having inventory go to waste.  Being an E-store has also helped the bakeshop garner more customers through their loyalty programs and by adding pick-up or delivery services that can be accessed online. 

Food and Ecommerce Industry with ZAP E-store

For well over two years, nearly all of us have relied on online shopping and delivery services to satisfy what we want. To meet this demand, many companies are outsourcing development teams to create custom apps for marketing efforts.

But with ZAP Group,  building an online presence couldn’t be easier! ZAP connects consumers to different food and beverage businesses through e-store services that power online order fulfilment and build a relationship with customers that makes them want to come back. 

Businesses don’t need to shell out thousands of dollars for expensive website developers. Simply contact the ZAP team, and they’ll provide you with just about everything you need for a fully functional and effective online store!