With the foodservice industry being one of the most competitive and lucrative landscapes in the U.S., a wide variety of companies are investing in data-driven insights to understand their audiences, optimize operations, and stay ahead of the competition. For 2021 and beyond, understanding flavor trends is essential for any franchisor that wants to gain the upper hand in efficient expansion and revenue.
While companies may be familiar with traditional flavor trends like the rise of spicy dishes and the deepening of regional flavors, there are elements that most people are sure to miss or overlook when evaluating trends for the coming year. These facets can be the difference between a lucrative location and a flop. Here, we’ll explore the nuances of these overlooked elements, such as restaurant tech coverage, sales prospecting data, and meaningful menu data to stay ahead of the curve in 2023.
Sales Prospecting in the Foodservice Market
Sales prospects in the foodservice market can’t be ignored when it comes to scouting for potential locations and targeting potential customers. Franchisors need access to data that can provide a better insight into the reach and frequency of the dishes served in a given region, as well as the seasonal tastes and preferences of the local area. Observational data from Brizo can offload weeks of data gathering manually, allowing franchisors to make efficient decisions. Moreover, data-driven insights help make efficient decisions on the fly.
Marketing to the Foodservice Market
Once sales prospects have been identified, it’s important to begin market research to identify favorable areas. By leveraging datasets of restaurant tech coverage, franchisors can tap into unique trends experienced by the foodservice industry from a sales and marketing perspective. Through data-driven insights, franchisors can efficiently refine their location criteria and target potential customers with focused marketing strategies.
Find Kitchens & Expand Operations
For franchisors looking to expand operations, unique menu data and market intelligence are essential. Knowing the local area’s market trends and preferences can mean the difference between selecting practical locations and ones that will work in future iterations. Once potential locations have been identified, menu data analytics can help continuously refine and optimize the menus of the franchisor’s restaurants and get ahead of local trends.
Data Enrichment
In the food and beverage industry, data enrichment can be beneficial in terms of fostering a better understanding of potential customers. Data enrichment services collate massive amounts of data sources and incorporate them into one system to improve decision making. For franchisors, this can be critical in terms of choosing between locations as well as understanding the nuances of the area in terms of potential customer preferences and local trends.
Flavor trends come and go, and in 2023, franchisors have the opportunity to leverage data-driven insights to get ahead of the competition and optimize their location selections. From targeting leads to enriching data to understanding local trends, the real estate of the foodservice industry is ever-changing and demands attention. By understanding the aforementioned aspects, franchisors can prepare for a successful 2023 that will leave the competition behind.
