In the highly competitive and ever-changing foodservice market, consumer insights can play a critical role in success – be it for sales prospecting, marketing to the market, expanding production operations, or more effective data integration. But there are some considerations to take into account when researching consumer food insights, so that businesses can make informed decisions that will give them the edge in a crowded market.
In this article, we’ve identified the top 10 things that you should consider when researching consumer food insights. We’ll look at data-driven insights, industry analytics, menu research, and restaurant tech coverage, as well as discover ways to enrich your systems and expand your operations, all from the perspective of the food & beverage distributor.
1. Data-driven insights
When researching consumer food insights, data-driven insights are the primary source of investigation. This data can come from a range of sources, such as point-of-sales transactions, customer reviews, market intelligence platforms, and more. By collecting data from a diverse range of platforms, you can get a more comprehensive view of the consumer food market in order to make well-informed decisions.
2. Industry analytics
In order to gain an in-depth overview of the foodservice industry, you should look to industry analytics. These analytics can provide important data and insights into the market dynamics and trends – giving you the upper hand in understanding the nuances and subtleties of the foodservice world.
3. Menu research
Menu research can play a key role in gaining a comprehensive understanding of the foodservice industry. By looking at menus from various restaurants, caterers, and other businesses, you can analyze the current trends, prices, and dishes being offered to customers. This data will give you access to valuable insights about the market and help your business compete more effectively.
4. Restaurant tech coverage
Technology has become an integral part of the foodservice industry, with businesses in the market turning to a range of solutions to drive their operations. As a result, it’s important to factor in technology coverage when researching consumer food insights. This coverage should include analysis of how different businesses are using technology, what software is being used, and how they’re engaging with customers through the online space.
5. Sales prospecting
Data-driven insights and analysis allow you to craft highly-targeted strategies for sales prospecting in the foodservice market. By gathering information from a range of sources, you can better understand the needs of customers and the dynamics of the market – enabling you to more effectively reach and engage with potential customers.
6. Marketing to the market
Understanding the industry and market dynamics is essential when it comes to marketing to potential customers in the foodservice market. By gathering insights into the market, you can craft strategies that are more tailored to the needs of specific customers, allowing your business to rise above the competition and increase conversions.
7. Find Kitchens & Expand Operations
Researching consumer food insights can also help you find new kitchens and expand your production operations. By understanding the market trends and customer needs, you can tailor your production strategy and locate new kitchens that are more suitable for your business needs.
8. Streamline production innovation
In order to take your business to the next level, it’s important to ensure that your operations are running as smoothly and efficiently as possible. By studying those consumer food insights, you can identify and address any weaknesses in your production processes, giving your business the edge over the competition.
9. Data enrichment
In order to make better decisions when researching consumer food insights, it’s important to enrich your systems with more comprehensive market data. This data can be sourced from a range of sources, and by understanding the market dynamics, you can create a more informed decision-making process.
10. Make decisions with confidence
Once you’ve gathered a more comprehensive understanding of the foodservice market, it’s important to make decisions with confidence. Data-driven insights and analysis enable you to see the bigger picture and make decisions that not only benefit your business but also benefit the customer and their overall experience with your product.
By considering these 10 things when researching consumer food insights, you can ensure that you’re able to make informed decisions that will give your business the edge in a crowded marketplace. By gathering data from multiple sources and creating more comprehensive market insights, you can ensure that you’re making the most of your research and creating a competitive edge.
