Every product launch or marketing endeavor requires valid data to back up the proposed strategy. For food and beverage distributors, knowing consumer trends and data points is essential for success. Institutional suppliers need to be able to identify appropriate markets, reach the customers who will drive a product’s success, and select vendors that offer high quality products and services.
Today’s data-driven food and beverage distributors have access to sophisticated tools to inform their decisions. For example, many distributors turn to tech-driven analytics platforms, such as Brizo, to garner comprehensive market insights to make their operations and customer service more efficient. However, most of these solutions mostly focus on traditional sales and buying metrics. As important as such metrics are, other less tangible consumer trends are often ignored.
Listed below are some important ‘soft’ factors that food and beverage distributors should consider when evaluating consumer trends data:
1. Food Preferences
The food and beverage sector is ever-evolving and customers are increasingly aware of what they’re putting on their plates. As their preferences constantly change, it’s vital for food distributors to know these trends if they want to remain relevant. Knowing target consumers’ diets and likes is key to understanding the market. Data tools like Brizo can help distributors analyze customer purchases by item, helping them spot new trends and seasonal shifts.
2. Program Participation
With more companies offering incentives such as loyalty programs, food & beverage distributors need to stay updated. Analyzing customer databases according to program participation can be invaluable for knowing which items to stock, how to pivot marketing strategies and more.
3. Food Footprint
A growing number of consumers are becoming concerned about sustainable, locally grown ingredients. They want to ensure that the items served are freshly sourced, transported efficiently, treated humanely and raised organically. Distributors need to familiarize themselves with standards recommended by Fairtrade Institute, EU Organic Regulations, and other such organizations to ensure they’re selling consumables that meet the customer’s requirements.
4. Food Sensitivities
People of today are more health-conscious and aware of food sensitivities than ever before. As they become better educated on the ingredients that are a part of the items they purchase, many are opting for vegetarian and vegan options. Distributors should consider this data to better understand what their customers are looking for and to promote their products in a more personal way.
5. Nutrition
We live in a nutritionally conscious world, and customers are increasingly conscious of the nutritional values of the food and drinks they consume. Nutrition labels are now mandatory on many food items, so tracking the nutritional density of the items you sell is essential. This also helps with fitting the product within a health and wellness narrative.
Data-driven solutions, like Brizo’s AI-fueled industry insights, are invaluable to any food and beverage distributor. However, these solutions are only as effective as the distributors’ individualized data analysis. It’s important to not overlook consumer trend data, as it offers insights into your customers’ preferences that will help you compte more effectively in the market.
