Fast Food Industry Analysis
Despite the growing focus on healthier and nutritious food choices, the fast food industry has been witnessing positive growth over the past few years. However, the growing consumer demand for fast delivery and evolving consumer expectations still presents challenges for companies operating in the fast food market. To overcome such challenges and set themselves apart from the competition, it becomes imperative for fast food companies to keep tabs on global market trends and explore potential growth opportunities.
To survive in today’s competitive marketplace, it has become imperative for companies in the fast food industry to explore new opportunities and adapt to market changes. Request a FREE proposal to know how our solutions can help companies in the fast food industry to achieve these goals.
Business Challenge
The client is a fast food company based out of Austria. As they were new to the market, they were facing difficulties in understanding and meeting the demands of their target customer base. Moreover, with major fast food companies in Austria embracing technology and social media to drive sales, the client’s inability to adapt to the latest technologies and trends impacted the company’s bottom line. Also, they were facing challenges in keeping tabs on the global trends that shaped the fast food industry landscape. The client, therefore, approached Infiniti Research to leverage their expertise in offering trend analysis solution. With Infiniti’s trend analysis solution, the company in the fast food industry also wanted to identify their strengths and weaknesses, predict long-term performance, and make timely preparations to adapt to unexpected market changes.
Other challenges faced by the company in the fast food industry were:
Fast food industry challenge #1
With major fast food companies in the region employing faster payment methods such as mobile in-store payments apps and e-wallets to reduce the wait time of customers, the client wanted to identify all the major trends and innovations adopted by their competitors and introduce advanced payment modes to allure customers.
Fast food industry challenge #2
With the increasing health awareness among consumers, there is a rising demand for healthy and nutritious food options . This compelled companies in the fast food industry to revamp their food options for customers. The client, therefore, wanted to identify the demands and needs of their customers and also understand the approaches undertaken by their competitors to keep their customer base happy.
Fast food industry challenge #3
By monitoring the marketing and promotional approaches undertaken by their competitors, the client wanted to analyze the common trend in marketing and employ them in their business processes.
Solutions Offered
To help the company in the fast food industry tackle the industry challenges, the experts at Infiniti Research adopted a three-phased trend analysis engagement. The engagement involved thoroughly analyzing the fast food market in Austria. The factors such as customers’ demands, market trends, and consumers’ concern regarding fast food were taken into consideration. Also, the experts at Infiniti Research analyzed the client’s competitor’s sales rate for the past five years and identify products with high demand in the market. The experts at Infiniti Research also analyzed the common trends in capital investment, payment modes, and marketing in the fast food industry.
The insights obtained from Infiniti’s trend analysis engagement helped the company in the fast food industry to understand their weaknesses in performance and identify the potential market demand for their products. Also, by gathering detailed insights about their competitors, the client was able to identify the common trends in marketing approaches and promotional strategies. This helped the client to identify the best marketing strategy to promote their product offerings in the market. Also, the client was able to identify products with the highest market demand in Austria.
Furthermore, with Infiniti’s trend analysis engagement, the client was able to understand the current market behavior and dominant patterns of the fast food market. This helped them in making well-informed business decisions. Also, the company was able to exceed their revenue expectation and enhance profit margins by 22%.
With the increasing competition in the fast food industry, innovation and change have become imperative to gain a leading edge in the market. Fast Food Industry Trends 2019
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