As the foodservice market continues to evolve, successful franchisors increasingly rely on data-driven insights to identify business opportunities and make decisions. Analyzing trends in the adult beverage category can provide key insights as to consumer preferences and market demand – but this can often raise common questions as to sourcing reliable data, interpreting results and applying them to operations. Here, we examine some of the commonly asked questions about adult beverage research, and provide helpful tips to ensure results are used to maximum effect.
Firstly, there is the question of how best to source reliable datasets. Brizo provides data fields specific to the food service industry, containing in-depth menu data and restaurant tech coverage. This allows foodservice businesses to target their research more efficiently, giving a clearer understanding of the local competitive markets and consumer preferences. Meanwhile for social media trends around adult beverages, look to sources like Google Trends to identify topics and search volumes, and Twitter Analytics to research real-time consumer discussion and engagement around beverages.
Another common question relates to interpreting research results. It’s important to ensure results are assessed accurately, with any patterns/trends seen in the data cross checked against industry insights. When researching current trends in adult beverages, analyze consumer sentiment by looking at current search terms and by researching what drinks customers are talking about online.
Understanding how to use adult beverage research to inform operations and strategy is also important. It’s vital to remember that data should be used for strategic decision making, rather than substituting consumer choice. Market trends can point to consumer preferences, but the onus is how best to cater to them.
It’s also important to assess how local competitors are responding (or not responding) to current trends, as this may provide opportunity either for product differentiation, or for strategic partnerships. Understanding industry insights from across entire markets can also be illuminating. Consider conducting interviews across various franchisors to understand how the concept of adult beverage can work to their advantage.
To ensure adult beverage research produces the maximum results, make sure it is accurate, up-to-date and applied correctly. Evaluating current trends can lead to greater consumer engagement, market insight, and potentially increased sales – but only if the data is applied smartly and incorporated into operations and strategy.
