Today’s foodservice industry is highly competitive. With so many vendors vying for their share of the consumer spend, restaurant technology providers need to keep an ear to the ground to understand consumer trends, preferences and market dynamics. This is why consumer research is so essential for restaurant technology providers. Through deeper insights into the market, restaurant tech companies can better serve their customer needs, identify new opportunities, and expand operations.
In this guide, we’ll examine the need for F&B consumer research, explore data sources and methods of analysis, and discuss why restaurant technology providers should prioritize this research.
The Need for F&B Consumer Research
With the growth of digital platforms and services, consumer behavior within the F&B industry has changed immensely. Whereas customers might have previously frequented one restaurant, they’re now likely to switch between various restaurants depending on convenience, price, and other factors. This makes it essential for restaurant technology providers to stay on top of consumer trends in order to understand their customer needs.
By leveraging consumer research, restaurant tech companies have the opportunity to gain insight into specific trends and preferences within the F&B industry. This data can be utilized to identify new opportunities for growth, target prospective customers, and develop innovative solutions to better serve the F&B market.
Data Sources and Methods of Analysis
At Brizo, we provide a comprehensive set of data for deeper market understanding and data-driven analysis. Our data sources allow for highly targeted and deep insights into the F&B industry, including menu data, restaurant tech coverage, and sales prospecting tools.
An important aspect of leveraging these data sources is to thoroughly analyzed and interpreted the data to provide meaningful actionable insights. This includes methods such as data processing and analytics to provide a more comprehensive view of the market.
In addition, data enrichment can help to further enhance and refine their systems, making them more comprehensive and reliable. This enables restaurant technology companies to make better and faster decisions.
Why F&B Consumer Research Matters
Consumer research is essential for restaurant technology providers looking to capitalize on the opportunity within the F&B industry. By leveraging advanced data analysis and insights, companies can better identify existing and prospective market opportunities, streamline production innovation and expansion efforts, and better serve their customer needs.
Moreover, F&B consumer research can also help restaurant technology providers to identify high-value clients and guide marketing strategies for new and existing products. Through understanding customer preferences, companies can tailor their solutions to better suited the needs of the F&B market.
