FOOD AND BEVERAGE COMPANIES LOOKING TO MAKE MARKET GAINS
By Adnews Staff
Most food and beverage processors are refocusing their efforts away from cost-cutting and to expansion, both at home and internationally, according to a survey done by Ernst & Young of Toronto. Sixty-seven per cent of the respondents identified increased market share as their top issue. About half of the respondents said introducing new product and expanding export markets are also key issues. Other issues cited in the survey were: updating technology infrastructure, improving customer service, increasing employee productivity, shifting customer demographics and increasing customer knowledge. Other findings of the study: 44% of food and beverage companies have a Web site and another 27% plan to build one, 69% said they use the Internet to access other company Web sites, 28% purchase or sell goods and services over the Internet and 67% said they were benefiting from the Internet. Based on Ernst & Young's ranking of the top food and beverage processors in Canada, the top 75 companies account for over $48 billion in revenues and close to 150,000 jobs across the country.