In the competitive and ever-changing foodservice market, it’s important for franchises to stay ahead of current trends. Knowing and understanding the latest dessert trends of 2021 is especially essential given the prevalence of desserts in the market. While most people focus on the popular sweet treats when evaluating these desserts trends, there is a lot more at play when it comes to forecasting and predicting a successful dessert data.com/en/platform/’ target=’_blank’>menu. Access to deep market insights and market intelligence helps franchises not only understand which desserts are popular but also uncover hidden revenue opportunities and uncover trends unseen by the average consumer.
Data helps franchises analyze the dessert landscape through the valuable lens of profitability. Recently, data-driven insights have become increasingly available, providing those in the foodservice business the tools that allow for advantageous decision-making. Companies, such as Brizo, provide a board and diverse set of data sets that allow for highly targeted research and prospecting of the foodservice market. By utilizing this data, franchises are able to fully understand their competition on a more strategic level, break down their customer demographics, and determine their economic potential.
When evaluating dessert trends, data intelligence helps businesses recognize and track the current trends and allows them to adjust their strategies accordingly. With a data-driven approach, operators are able to gauge customer reactions and food trends in near real time, resulting in improved accuracy and precision in their forecasting. Businesses are better able to determine which sweet treats are gaining popularity amongst their customers while recognizing what other franchises are doing that may be similar.
Data insights can prove to be invaluable for predicting new product launches and dessert trends. Franchises should observe and track customer feedback, both good and bad, and evaluate the customer’s behavior and preferences when exploring new desserts or menu items to introduce. Having access to insights such as customer sentiment and purchase frequency helps franchises ascertain which desserts will thrive in the current market and capture more customers.
Data also enables teams to more accurately decide on pricing and promotions for their desserts. Not only does it help franchises develop an understanding of the internal and external factors that affect the pricing of their desserts, but it can also help identify and optimize pricing across different channels. In addition, by analyzing competitors’ pricing, franchises can find competitive pricing opportunities that will increase their market share.
Insights gathered from data can not only help franchises understand the current food and beverage market, it can also help them adjust their resources and capabilities to better accommodate current dessert trends. By harnessing data insights, businesses can analyze their menu and adapt their production resources to meet the current demands in the market. Furthermore, such data can provide actionable recommendations for franchisors such as identifying new locations, understanding production capacities, and finding potential customers with the same insights.
Data intelligence has become essential in today’s foodservice market, especially in optimizing dessert-related decisions. Franchises are able to better understand the current trends and customer behavior when leveraging data insights. Through utilizing data-driven insight tools, franchises can evaluate and adjust their desserts and menu with accuracy, while uncovering hidden revenue opportunities.
