Using Restaurant Database to Track Trends in the Restaurant Industry

With 62% of Gen Z preferring to dine out at least once a week, it’s clear that the restaurant industry is continuously evolving. This trend presents both a challenge and an opportunity for restaurant supply chains, food and beverage manufacturers, and distributors. Staying updated with such shifts in consumer behavior is not just beneficial; it’s essential for success.

In this blog, you’ll explore the importance of restaurant databases for tracking trends and adapting quickly, and how Brizo FoodMetrics can help you track these changes in the foodservice business.

Importance of Staying Updated in the Restaurant Industry

For those in the restaurant supply chain, food and beverage manufacturing, and distribution, here’s why restaurant industry trends tracking is important:

1. Shifts in Consumer Preferences: The plant-based diet trend is more than a passing fad. In the U.S, about 5% of Americans consider themselves vegetarians, and 3% consider themselves vegans. Americans are adopting a vegan lifestyle at a significant rate. For suppliers and manufacturers, adapting to such changes is key to meeting market demands.
2. Supply Chain Management: Price and availability of food items are always changing. A restaurant database offers real-time data, helping you manage inventory effectively. For example, during the avocado price increase in 2019, informed suppliers could quickly switch to alternative products, minimizing losses.
3. Adapting to Customer Service Trends: With the rise of online ordering, suppliers and manufacturers need to adjust their processes to align with these new customer habits. For instance, this market is expected to generate US$287.50 billion in revenue in 2023. Market volume is projected to reach US$534.60 billion by 2028 at a CAGR of 13.21% from 2023 to 2028.
4. Digital Shifts in the Industry: The move towards digital menus and ordering systems affects the entire supply chain. Suppliers need to be ready to respond to changes in order frequency and product demand.
5. Sustainability Focus: With 66% of Food and Beverage businesses prioritizing sustainability in 2023, it’s clear that eco-friendly practices are becoming more important in the food industry. Suppliers and manufacturers can use this information to make their operations greener, meeting both consumer expectations and environmental regulations.
6. Menu Trends and Demand: Knowing what’s popular on menus helps suppliers decide what products to stock. The gluten-free market, for instance, is projected to grow by 9.8% annually, signaling higher demand for gluten-free ingredients.
7. Data-Driven Marketing: Using data on dining trends can improve marketing strategies. For example, insights into popular dining experiences can inform targeted advertising campaigns.

How Does a Restaurant Database Help to Track Industry Trends?

For restaurant supply chains, food and beverage manufacturers, distributors, and tech providers, a restaurant database help to track industry trends. Here’s how:

• Supply and Demand Forecasting: A restaurant database helps predict future demand for various food products and ingredients. This foresight is key for supply chains and manufacturers to adjust their production and inventory levels, ensuring they efficiently meet market demand.
• Consumer Trend Analysis: By analyzing popular menu items and dining preferences data, manufacturers can tailor product development to align with current trends. For instance, a surge in demand for plant-based options can prompt manufacturers to expand vegan product lines.
• Operational Insights for Distributors: Distributors can use data to optimize logistics and delivery schedules. Understanding peak times for certain products allows for more efficient distribution planning, reducing costs, and improving service.
• Market Positioning and Strategy: Access to comprehensive market data enables businesses to position their products strategically. For example, if data shows a growing trend in health-conscious dining, manufacturers and distributors can focus on health-centric products.
• Competitive Analysis: Keeping an eye on competitors’ strategies and performance helps businesses in these sectors to stay competitive. They can identify gaps in the market and innovation opportunities.
• Customer Feedback and Preferences: Analyzing customer feedback helps in understanding the end-consumer’s preferences. This information is vital for manufacturers and distributors to ensure their products meet customer expectations.
• Technology and Innovation Trends: For restaurant tech companies, a database provides insights into the latest technological trends and customer preferences, guiding the development of new tech solutions for the industry.
• Sustainability and Compliance: Tracking trends in sustainability practices helps businesses align with environmental standards and consumer expectations, which is increasingly important in the food and beverage industry.

The food and beverage industry can understand market dynamics by leveraging restaurant databases. As a result, they can make data-driven decisions, ensuring they’re agile and responsive to the restaurant industry’s ever-changing demands.

Conclusion

Supply chains, manufacturers, and distributors must keep up with changing restaurant industry trends, and a restaurant database tool like Brizo FoodMetrics is key in this process. It offers:

• Detailed insights into over 500,000 chain establishments and 990,000+ independent operators.
• Real-time data for timely, informed decision-making.
• Trend analysis to quickly adapt to changing consumer preferences.
• Competitive intelligence to stay ahead in the market.
• Operational optimization for supply chains and manufacturers.
• Insights for targeted product development and effective marketing strategies.

Discover how Brizo FoodMetrics uses its comprehensive restaurant database to help you track industry trends and make data-driven decisions.