Have you ever wanted to understand the food trends that are driving your local consumers to make food choices? Knowing the food trend and using that data to drive your business decisions can be the difference between success and failure in the foodservice market. As a franchisor, targeted research and prospecting of the foodservice market is key to finding the right kitchen and expanding operations smoothly. Fortunately, data analysis and AI technologies at your disposal to better understand consumer behavior and local market trends.
In this article, we will discuss the various strategies to get started on predicting food trends, available data sources, and data enrichment to help make better business decisions.
What Are Food Prediction Trends?
Food trends are always changing, propelled by consumer demand and societal changes. Food trends can range from regional and seasonal changes, all the way to macro-level shifts that affect the entire country. Understanding consumer tastes and preferences is key to forecasting the future of food.
Foodservice market intelligence can be broadly divided into two categories: granular data and macro data. Granular data is data that is collected on a locality or regional basis, while macro data is collected on a national scale. This data can be used to accurately measure market fluctuations, analyze consumer behavior, and predict future food trends.
What Is Data Analysis?
Data analysis is the process of analyzing, interpreting, and visualizing large collections of data in order to extract meaningful insights. Data analysis can be used to study patterns, process data, and draw conclusions from the data. In the context of food trends, data analysis can be used to identify market fluctuations, examine preferences, and make accurate predictions.
What Data Sources Are Available?
Fortunately, there are several data sources available to help predict food trends. These data sources include restaurant tech coverage, menu data, customer feedback, and market research reports.
Brizo provides a board and diverse set of data for deeper foodservice market understanding and analysis. Our data allows for highly targeted research and prospecting of the foodservice market with unique data fields specific to the food service industry. Insights includes in-depth menu data and restaurant tech coverage.
Data enrichment is the process of enhancing your systems with more comprehensive market insights and making decisions with confidence. Data enrichment can be used to make better decisions about menu changes, restaurant locations, and marketing campaigns. At Brizo, we provide data enrichment through our comprehensive data warehouse. Our platform provides access to massive amounts of data from many different sources, allowing you to easily identify trends and make informed decisions.
Tips For Getting Started On Food Predictions Trends
Now that you know the basics of food prediction trends and where to access the data, here are some tips to get started:
Get to know your market. Understand the demographic, income, and cultural factors that may influence food choices.
Analyze menu data. Use data from menus to understand how nutrition needs, tastes, and expectations have shifted in recent years.
Use restaurant tech coverage to understand the technology and processes that restaurants are utilizing to stay ahead.
Analyze customer feedback. Use customer feedback from social media, reviews, and surveys to understand customer preferences.
Monitor market research reports. Keep an eye on industry trends and competitor activities.
Tap into data enrichment options. Use data enrichment to supplement your research for deeper insights.
The main takeaway
The foodservice market can be a challenging and complex industry to understand. Data analysis and AI technologies can help you make more accurate predictions of the future of food trends. There are several data sources available for deeper insight and analysis. To get started, understand your market, analyze menu data, use restaurant tech coverage, analyze customer feedback, monitor market research reports, and tap into data enrichment options.