Consumer trends in food signify the direction in which the foodservice industry is moving. For restaurant technology companies, understanding changing consumer trends is essential to remain competitive in the market and create innovative solutions that remain ahead of the curve.
That’s why it is important to have reliable and up-to-date data on consumer trends driving the foodservice market in order to develop products that address the shifting preferences and behaviors of diners. Here is a comprehensive guide to help restaurant technology companies identify trends that are met with consumer demand, develop applications that keep up with the times, and take their products to the next level.
What Causes Consumer Trends in Food?
Understanding consumer trends in food is a complex task considering the numerous factors and variables that drive changes in consumer behavior. These include:
Changing dietary habits – the rise in vegetarian and vegan diets, flexitarianism, the increased demand for healthier eating, etc.
Advances in technology – mobile ordering, voice-based search, augmented reality, facial recognition, predictive analytics, AI-driven technology, etc.
Urbanization – urbanization often prompts changes in consumer habits, increasing the demand for convenient, fast, and affordable food.
Changes in lifestyles – more people are seeking new experiences and activities when it comes to dining out, which is driving an increase in new restaurants and cuisines.
Increase in disposable incomes – the rising popularity of branded restaurants and higher-end diners could be a reflection of consumers having more money to spend.
These are some of the factors that are influencing consumer trends in food. However, it is important to remember that trends in the foodservice industry can vary across regions. It is the task of restaurant companies to identify and analyze key drivers of consumer behavior in their target markets so that they can create solutions that make them stand out in the marketplace.
How to Identify Consumer Trends in Food?
The first step to understanding consumer trends in food is to collect data. This data is available from multiple sources, including social media posts, consumer surveys, online reviews, and restaurant review sites.
Analyzing the data can offer indicators of consumer trends in food. These can include menu items that are popular among certain demographics, areas of the country that are seeing an increase in diners from certain backgrounds, and reviews that provide insights into what customers are looking for in their dining experience.
The next step is to conduct market research. Market research should focus on key trends that are driving consumer behavior. This involves analyzing the types of restaurants that are emerging in certain areas, the demands that customers have for certain products, and the features that are making restaurants stand out in the industry.
It is also important to keep up with the latest food-related news and research. This can help to identify emerging trends in the industry, such as the emergence of alternative proteins, plant-based milks, and other products that are becoming increasingly popular with consumers.
How to Turn Consumer Trends Into Actionable Insights?
Once consumer trends have been identified, the next step is to turn them into actionable insights. This can be done by analyzing the different areas of the market and identifying opportunities that can be explored.
For example, if a particular menu item or restaurant type is becoming increasingly popular, restaurants can develop campaigns to highlight the new offerings and target areas that are becoming inclined towards them.
In addition, restaurants can also leverage market research to benefit from emerging trends. This can involve adapting their menu to focus on certain types of cuisines or changes in diet and lifestyle, as well as using technology to enhance the customer experience.
When it comes to leveraging data, restaurant technology companies have access to an unprecedented amount of data, which can be used to gain structural insights into the industry and hone in on consumer trends.
Data providers such as Brizo offer insights into the diverse and compelling consumer trends driving not just the foodservice industry, but across the globe. Their platform and products enable granular analysis and allows for better target prospects for the market.
Furthermore, insights derived from data can enable restaurant technology companies to customize their applications to larger customer base. This includes understanding customer needs in various regions, prioritizations on target demographics, and gaining insights on the type of restaurants that are thriving in specific areas.
Conclusion
A sound understanding and evaluation of consumer trends in food is essential for restaurant technology companies to remain competitive and relevant in the industry. By collecting data, conducting market research, and leveraging data insights to benefit from these trends, restaurant companies can create solutions that are tailored to their target markets and remain ahead of the curve.
