Consumer trend reports provide invaluable insights for restaurant technology companies as they attempt to develop more tailored solutions for their customers. As the foodservice industry becomes increasingly complex, having accurate data on consumer trends is essential for making informed decisions. To help guide businesses in their effort to stay abreast of the latest trends, here are the top 10 things to consider when developing c-store consumer trend reports:
1. Location-Based Data: Knowing what local customers want is critical for effective c-store marketing efforts. Data should include detailed demographic and geographic data that can be broken down into meaningful segments that are relevant to the c-store’s target markets.
2. Historical Trends: Analyzing historical trends provides a more comprehensive view of the current market. This data should include both short-term and long-term trends so businesses can identify shifts and plan disruption strategies.
3. Customer Behaviors: Understanding customer behaviors with respect to choosing when they shop and what they buy can provide details on where c-stores should focus their efforts. Data should include a mix of customer feedback regarding products, services, and overall customer satisfaction.
4. Regional Variations: With c-stores being a local business, there is likely to be regional variations of consumer preferences. Regional trends should be tracked to ensure that local demographics are understood and catered to.
5. Products and Services: Knowing what type of products and services customers prefer is essential for c-stores to stay competitive. Data should include popular items, creative offerings, and unique innovations that are gaining traction.
6. Digital Platforms: The growing importance of digital platforms in the foodservice industry is undeniable. Data should include customers’ preferences for ordering online, mobile app usage, and social media engagement. Knowing customer behavior can provide insights into how to best deploy digital platforms.
7. Pricing: Price is one of the major factors that drive customer decisions, so it’s important to track pricing trends to ensure that c-stores can stay competitive. Data should include customers’ preferences for discounts, loyalty programs, and specials.
8. Advertising and Promotions: Data should also track customer reactions to advertisements and promotions. The information should indicate whether customers are receptive to coupons and freebies and which outlets customers prefer for obtaining such incentives.
9. Competitors: Understanding what competing businesses are doing is critical for staying ahead of the game. Data should include details on competitors’ strategies, pricing, and products offered so businesses can demand a larger market share.
10. Brand Positioning: Knowing the brand positioning of a business’s competitors can help c-store owners better understand the competition. This data should include how competitors market their products and services, detail the value of their brand, and describe offerings.
By researching these 10 factors, c-store owners can compile comprehensive consumer trend reports. This data can provide valuable information for c-store owners to develop a successful market position and stay ahead of the competition.
