For the modern foodservice supplier, staying ahead of the industry curve has become a necessity to remain competitive. Whether it’s developing new products, uncovering emerging market trends, or understanding the competition for a given area, leveraging data from menus can paint a comprehensive picture of the industry and provide the insights needed to make strategic decisions.
At Brizo, we offer a range of menu data points to help foodservice suppliers analyze their market position and stay ahead of the competition. Our data provides a detailed look at the menu items and products within a region, the types of restaurant concepts, and the tech infrastructure of the restaurants. This data is particularly beneficial for developing marketing strategies, sales prospecting, and for understanding the competitive landscape.
Whether you’re looking to attract customers, convert more leads, or expand operations, this menu data gives the insights needed to be successful. But what exactly should you consider when evaluating menu data for the foodservice market? In this article, we’ll cover the top 10 things to keep in mind when handling menu data.
1. Operational Knowledge: It’s important to not only understand what is available on a menu but also the functioning of a restaurant. Look deeper into the specific actions a restaurant must go through to produce a dish and the sequences involved throughout a meal.
2. Current Trends: Discover which items are currently trending and old items that have either returned or are no longer available. Identify influencers on the menus such as plant-based substitutions or specialty diets to stay ahead of the foodservice industry.
3. Cost Considerations: Consider the cost of every individual ingredient used in a dish as well as the average number of ingredients a dish contains. Menu data will enable you to measure the cost of certain ingredients in comparison to the range of prices for certain dishes.
4. Price Points: Examine the price points that are being offered for different dishes. This will help determine which price points are appealing to customers. By understanding the pricing, you can always keep your offerings competitive in an ever-evolving market.
5. Recipe Composition: Understanding the components of a dish and how a recipe is composed can give insight into what customers are wanting. By breaking down the ingredients of recipes you can learn to adjust and adapt menus to stay on top of shifting trends and customer preferences.
6. Menu Naming: A recent phenomenon in the restaurant industry is the use of clever or engaging menu names. Consider how items are named and what role that plays in making a connection with the customer.
7. Dietary Considerations: Menu items can be adapted to cater for various dietary requirements such as vegetarian, vegan, gluten-free, and dairy-free. Utilizing menu data will enable you to discover the items that satisfy specific diets.
8. Pricing Templates: Use menu data to create templates which map out certain prices for different menus. This will help you develop strategies to identify price gaps and target new customers.
9. Data Segmentation: Break down the menu items into regions, food styles, outlets, or customer demographics. This will help you analyze data in more specific detail and identify any notable trends.
10. Competitor Analysis: Looking at menu items from different restaurants allow you to compare and contrast the items and the prices they are providing. By comparing different menus you can gain an understanding of what works and what doesn’t in the market.
From understanding operational knowledge to segmenting menu data and compariting competitor analysis, menu data can provide a wealth of insights into the foodservice market. These insights can help you identify current trends, generate competitive strategies, and maintain a competitive edge in the foodservice market.
