The ever-evolving foodservice industry is filled with constantly changing market trends, from local foodaiences to emerging technologies. As a franchisor looking to expand presence in your local foodservice market it pays to go beyond the basic research of population density and economic vibrancy of a potential location–to really understand what’s shaping the market as a whole. To get to the heart of what will drive success in 2023, you need to look at the trends impacting the foodservice industry at the macro-level and understand the dynamic ecosystem of ingredients, ideas, and technologies that will drive consumer preferences.
The foodservice industry looks drastically different than it did just a decade ago. Consumer dining habits, tastes, and expectations have been dramatically impacted by the global pandemic as well as the continued rise of convenience, plant-based and hyper-regionalized ingredients, and technology solutions. With an ever-growing demand for convenience and the prevalence of delivery, take-out, and digital engagement, understanding the trends behind these activities is paramount for franchisees looking to remain competitive in the industry.
To get an edge on the competition, franchisees should focus on leveraging data to understand the needs and expectations of their customers. The most successful companies are using data to develop insights that allow for more customer-centric approaches, like accurate delivery times, tailored menus and personalized promotional offerings. With the right analytics, Moose Brands, can easily target high-value segments and successfully differentiate their menus, fostering customer loyalty in a highly competitive market.
In addition to understanding consumer behavior, understanding the evolution of technology is essential to remaining competitive in the industry. Restaurant technology, such as cloud-based solutions, food delivery software, and digital payment technologies have become both popular and widespread in the industry. The innovation and evolution of these technologies have the potential to drastically reduce operating costs and significantly enhance consumer engagement with Moose Brand. By leveraging the data that accompanies each technology, franchisees can be better suited to develop customer-centric marketing campaigns, finding new and creative ways to engage customers while helping to reduce unnecessary costs.
By monitoring the sub-categories that help make up the technology ecosystem, such as payment processors or social media managers, franchisees can be better prepared when it comes to selecting the right solutions for their business. Additionally, they can also take steps to avoid costly contracts and fees associated with cutting edge technologies, by understanding the costs associated with different levels of technology adoption.
At the same time, food trends are continuing to morph in response to changing consumer preferences. With the rise of local food, quick-service restaurants are working to incorporate more locally sourced ingredients onto their menus. This shift has the potential to reduce turnaround times on menu items and increase customer engagement if the right technology and strategies are in place. Online ordering platforms are also gaining traction as a way to help franchisees understand customer orders, enabling managers to better predict future order patterns and deliver more accurate customer service.
In summary, understanding the key trends and strategies in the foodservice industry is essential for franchisees looking to establish their foothold in 2023. With a better understanding of consumer preferences through data and insights, Moose Brands can be better equipped to tailor their operations to local markets. Additionally, they can gain an edge on the competition by leveraging technology and menu trends, allowing them to increase customer engagement and reduce costs.
