News | Industry Updates
Food & beverage industry vulnerable to downside risks in 2022
An industry report from global credit insurance provider Atradius reveals major growth drivers and constraints in the food & beverages industry across multiple markets worldwide. A number of downside risks are expected to pose major challenges to the global food & beverages sector this year. Sharp increases in commodity and energy prices, labour shortages, transport issues and the ongoing spread of the coronavirus pandemic could jeopardise the profitability of major industry subsectors over the coming months. In addition, consumer habits are changing as the end-client
increasingly demands full transparency about their ingredients, production processes, and supply chain. All this could subsequently strain profit margins within a fiercely competitive industry, where the bargaining power of major retailers and discounters is very strong.
However, as highlighted by Atradius in its latest food & beverages industry trends report, the global food & beverages industry has various drivers that can unlock potential growth this year. These are the non-cyclical nature of the industry, a growing number of
middle-income consumers in emerging economies who are spending more money on high than low value-added goods and the increasing use of technology to engineer solutions for global food supply, are all contributing to growth. However, these factors could highly likely turn the surge in demand into a snack rather than a full meal. The overall picture that emerges from the report provides some
first insight into the overall trends in the global food & beverages industry. Variations among the countries covered in the report, ranging from Australia, Canada, Indonesia, many European countries and the US are wide and businesses should be aware of this in their regular trade activities with the industry.
New ITL business development manager for UK
Innovative Technology has announced a new business development manager for the UK. The position has been filled internally by Chris Wright who has been with the cash handling
business for five years. Chris previously held the role of technical support engineer and
was promoted to a dedicated sales role at the start of the year. Commenting on Chris’ promotion, Andy Bullock, senior business development manager said: “Since Chris joined ITL in 2017 he has gained extensive product knowledge and experience as a support engineer, as well as in-depth expertise in customer training, configuration and software installations. I have worked closely with Chris over the years during his time in customer support and I am delighted that he will be working with me, together taking responsibility for our gaming and retail customers in the UK. He is
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fantastic with customers; has great communication skills and really gets to know their requirements, so I am confident he will flourish in this new business development role where customer satisfaction is key.
Commenting on his new role, Chris said: “I already know many
of our customers from my five years working in technical support. For the past year I have been doing a cross over dual technical support/sales role which has enabled me to get to know some of our key retail customers and gain a better understanding of their needs. I am looking forward to attending the retail focussed exhibitions that we have planned throughout the year and heading up the Retail Technology Show in London, which will allow me to meet our existing retail customer base and new clients too. I am keen to get started and look forward to working closely with Andy to ensure we offer our UK customers the best possible automated transaction products, to help them generate cost savings and efficiencies.”
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