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Category: Food & Beverage

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Application of Media Monitoring Services in the Food Service Industry

Today, every business across the globe have started utilizing social media, a popular cultural phenomenon, and depending on various digital media platforms to understand consumer behavior and gain market insights. Media monitoring services provide a platform to assess consumers’ perception about the organization, brand, and their product or service offerings. Social media monitoring tools allow businesses to IR_Brochureimprove their product offerings by focusing on the challenges of demand and customer’s preferences. Such services are a boon for every industry, especially the food service industry, as digital media allows food service providers to track, monitor, and assess their performance across several channels. The food service industry can leverage the valuable insights gained through market intelligence studies and various social media listening tools to devise effective strategies that drive organizational profitability.

Media Monitoring Services in A Nutshell

Media monitoring services help businesses optimize their strategies and improve the organization’s online presence; thereby, enhancing consumer loyalty and brand sentiment. As organizations move from a transaction-based approach to a more personal, customer-centric approach, social media monitoring services enable a seamless and smooth transition. With the help of social media listening tools and the advent of big data, businesses can combine internal and external data across different channels and make use of the insights to streamline and optimize their business operations.

Media Monitoring and the Food Service Industry – What’s Cooking?

In the food service industry, customers are an integral part of the entire value chain process, which makes it all the more important for the industry players to monitor their online presence, analyze consumer sentiment towards their brands as well as competitors’ offerings, and build positive customer engagement around the brand. It is also important for the businesses in the food service industry to understand the dynamic market landscape and gain in-depth knowledge of the various stakeholders who have an impact on the business operations and profitability. How can media monitoring services benefit the players in the food service industry, you ask? Here’s how.

  • Media monitoring services enables the food service providers to analyze brand performance by targeting a specific customer segment, relate to them, and address their concerns
  • Optimize the online presence of a brand across various market segments and streamline processes by driving customer engagement on digital platforms
  • Track, monitor, and assess social media activities to gain real-time insights on the latest market trends and gain a foothold in the social space

For instance, Infiniti recently helped a leading food service provider to rebuild their brand message with its media monitoring services. The study helped the food retailer in creating personalized marketing collaterals that would resonate with the consumer’s expectations and boost the overall product sales. Read the full case study here.

The Infiniti Way

The rule of thumb to survive in the market, create lasting impressions, realize business objectives, and drive profitability is to listen, identify, and analyze customer and market information.

“In this dynamic and competitive market environment, it is essential for organizations to gain an in-depth knowledge of their target customers and leverage these insights to improve their decision-making process.” says a leading market analyst at Infiniti research

With more than 14 years of experience, Infiniti Research has worked with several clients across the globe and provided various business intelligence services that has helped them make strategic business decisions wisely. We have worked with over 120 plus clients, including 55 Fortune 500 companies and helped them build capabilities and drive bottom-line growth by leveraging the constant influx of information and data. With the help of our team of expert analysts and consultants, we strive to complement our client’s business objectives to discover growth opportunities and drive business excellence.

To know more about the media monitoring services in the food service industry

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fast food industry

Trends and Challenges in the Fast Food Industry 2020

Companies in the fast food industry provide quick and affordable alternatives to home-cooked meal for young adults, working professionals, and families. Click To Tweet

The recent craze of consuming food products that are healthy hasn’t affected the sales of the fast food industry. On the contrary, the fast food industry has found a way to satiate the health and nutritional needs of the consumers by offering healthy versions of their food products. The fast food industry has gained momentum owing to factors such as increased women participation in the workforce, long working hours, and lack of time for meal preparation among several others. Thus, with the increasing preference for convenience among consumers, the popularity of order takeaways or eat in quick-service restaurants has increased. The food manufacturers in the fast food industry provide quick and affordable alternatives to home-cooked meal for young adults, working professionals, and families. The growth in the food and beverage industry can be attributed to technological advancements, streamlined and controlled manufacturing processes, growth in population, and improved cold chain technology.

With consumer demands and preferences changing rapidly, it’s high time for fast food companies to take a look at their strategies to better connect with target consumers. Want to gather more insights into the trends and challenges? Our market intelligence experts can help. Request a FREE proposal today!Request Proposal

Companies in the fast food industry operate on relatively small margins and face flat sales – a result of the constant price wars among the restaurateurs in the highly competitive market. Several trends such as increasing demand for home delivery services, drive-thru options, increasing consumption of technology and web-enabled applications among others are set to drive the growth in the fast food industry, globally. Apart from such trends, the fast food industry faces challenges such as lack of fresh ingredients, increase in consumer demand for healthy food, rising competition, and quick food options such as ready-to-eat meals and products, which can wreak havoc and result in narrower margins for the restaurant owners.

Fast Food Industry Trends

Technology, Drive-Thru, and Demand for Home Delivery

The food industry is increasingly embracing technology, social media, and internet-based mobile applications to reach their potential customers and drive sales and create revenue opportunities. Technology in the food industry has transformed everything right from ordering food, pick-up, and meal delivery. Fast food restaurants are also adopting tech-driven and web-enabled mobile applications to entice customers with a wide range of payment options.

Gain competitive intelligence about market leaders, track key industry trends, opportunities and threats with our advanced market intelligence solutions. Get in touch with our experts for more insights on our solutions.Contact US

Fast Food Industry Challenges

The fast food industry will face a slew of challenges as consumers prefer to order and consume food within the comfort of their homes. Factors such as weather conditions, traffic problems, lack of time, and longer working hours will give momentum to alternative options such as meal delivery services, convenience foods like ready to eat meals and ready to cook products. The food service industry also faces a very low customer loyalty due to increasing competition and lack of innovation in products and services. Today, consumers increasingly prefer food providers that follow a Fairtrade practice, offer environmentally sustainable and healthy options, and prefer naturally sourced food products. This makes it extremely difficult for companies in the fast food industry to source these products at a relatively affordable price without logistical problems.

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Top Three Things to Know About the Food Service Industry

The food and beverage (F&B) industry is an essential part of several economies across the globe. Food and drinks are an extremely important part of numerous cultures and demand a social/personal space in the hearts and minds of the consumers. The food service industry is highly fragmented yet immensely competitive across the globe. The food and beverage industry has transformed the eating habits and food preferences of consumers with a highly customer-centric approach and a global network. The global market space for food service and beverages has witnessed phenomenal growth over the years and is dominated by category captains who influence the retail space and consumer prefAsk an analysterences. The food service industry is highly competitive with several players, big and small, competing for consumers’ attention. As a result, the food and drink manufacturing companies opt for multiple channels and different go-to market strategies to capture the market and expand their global footprint.

Food Service Industry – Things to Keep in Mind

The food service industry has been growing at a breakneck speed with the introduction and advancement of food processing and related technologies coupled with the ever changing regulatory compliance landscape. However, there are a few things a distributor, manufacturer, or any stakeholder in the food and beverage supply chain must know, which are as follows,

  • Technology is crucial – Consumers and regulatory authorities across the globe are increasingly emphasizing on food safety and traceability, and regulating food processing and manufacturing in the industry. As a result, players in the food service industry have adopted various supply chain technologies like mobile apps, Internet of Things (IoT), and big data analytics. These mobile and Internet enabled devices have revolutionized the operations and improved supply chain management for food service companies. Big data and IoT enables players in the food service industry to track and manage the food products at various stages in the supply chain

 

  • Ensuring Regulatory Compliance – Today, consumers and regulatory bodies are raising concerns over food safety and packaging standards, resulting in a complex set of food safety standards and packaging frameworks that dictates food production, packaging, distribution, and consumption across the globe. The food service industry leverages technology to improve food quality, track the manufacturing processes and ensure food safety

 

  • Complex Supply Chain – The food service industry has a very complex supply chain that includes everyone right from the suppliers to the manufacturer, distributor, and retailers. The entire journey of ensuring the product reaches the end consumer entails a complex process of passing through different channels and specialized players

The food service industry is a multifaceted web that consists of a complex supply chain, food and beverage manufacturers, regulatory bodies, and technology to ensure that the product is made available to the end consumer.

 

To know more about the food and beverage industry

Market Intelligence

Retailers Taking the Path Less Trodden – Small is Set to be the New Big

Gone are the days when every company in the retail industry aimed at opening a chain of big-box stores with a space of 110,000 plus sq. ft. offering a wide range of products cheaper than other retail stores, aimed at providing a one-stop shopping experience to the consumers and encouraging them to purchase in bulk to save money. The big-wigs of retail and consumer packaged goods (CPG) industry such as Target, Wal-Mart and Best Buy are now taking the path less trodden, literally. These players have joined the latest trend that has taken the retail industry by storm, everyone’s going small – it’s the new big.

The “Smaller is Better” Philosophy

The idea of giant big-box retail industry foraying into the small format stores was something that no one predicted, but today, retailers have begun devising new strategies owing to the ever-changing preferences and shopping habits of consumers. “Why go Small?”, You ask. Here’s why,

  • Small format stores help retail industry venture in space-constrained and overly populated urban areas with little or no competition and
  • It helps retail industry tackle the online competition on various facets such as product assortment and variety, convenience and delivery time.
  • Smaller stores are also expected to yield higher sales per sq. ft. and increase in footfall.
  • These stores can be used to mirror the local needs of customers, with product range and assortment tailored specifically to the demographics of that area.

Small Stores – What’s in it For You?

For decades, the retail scenario in the Americas has been dominated by big-box store giants, but there has been a slow and gradual shift towards the so-called smaller footprint stores. For the consumers, this reeks of higher ‘convenience’ and ‘accessibility’. It means more locations closer to where the consumers are present, thereby translating into a much faster and convenient shopping experience for all. The small-store format is a promise of a quick and easy experience to cajole the consumers to actually make an effort to visit a physical store.

The Big and Small of Everything; Driven by Data

In nearly a decade from now, customers will outgrow the ‘one-size-fits-all’ approach of mass and big-box retail and gradually start seeking for smaller stores that will cater to their individual needs. Thereby making data and insights the secret ingredient for retail success. In order to know their customers and deliver unique and worthy shopping experience, retail industry need to make use of market and customer intelligence that will help them to tackle challenges and achieve growth, innovation and operational efficiency. Retail industry need to assess the competitive landscape and identify the most profitable customer segments and demographics in order to take the big plunge.

Infiniti Research is your one-stop shop for all your market insight needs

 

cosmetic packaging

What’s in a Cigarette and the Tobacco Industry?

Tobacco – people smoke, chew, or sniff to absorb the nicotine in it. The products include cigarettes, cigars, bidis, and more. The tobacco and cigarette production industry faces various challenges in the developed and developing countries. At Infiniti Research, our experts performed a market intelligence study on cigarettes and tobacco production across various regions and below are the key takeaways. Read on to learn more about how the marketability of cigarette and tobacco products will be in the future.

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Market Estimates and Forecasts

According to our industry experts, the cigarette and tobacco products industry has been performing well over the past five years, despite regulatory changes. Driven mainly by the cigarette segment, global cigarette consumption is expected to witness tremendous growth. As per our market intelligence report, the global tobacco market is generating huge profits, and the market is expected to surpass US$1,000 billion by 2018 despite the advent of innovative substitutes and various government campaigns against smoking and other tobacco-based products. Our research shows that the largest cigarette consuming countries so far have been China, Russia, US, Indonesia, and India followed by Europe and EMEA.

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Trends in Developed Vs. Developing Countries

The tobacco market is growing at a steady rate despite the odds of media talking about the health implications of smoking. This is due to a growing number of smokers in the developing and under-developed countries. With increasing anti-smoking campaigns, cigarette sales continue to weigh down on industry operators in developed countries. Consequently, there has been a decrease in adult smoking population globally. At Infiniti Research, our key focus is to offer global corporations insights pertaining to stringent regulations on the sales revenue of cigarette and tobacco products.

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Our research on the cigarette and tobacco production shows that the level of competition among the key players is intense. To stand out in the competition, a tobacco-producing company can consider factors like product innovations, packaging innovations, price variation, and tar content. Many players also consider the design of cigarettes, chemicals in smoke, and innovating smokeless cigarettes to bring about product differentiation. Our global market reports offer industry analysis into the cigarette and tobacco industry at a global level. Our detailed assessment offers a brief description of the cigarette and tobacco market in North America and Australia and the current marketing activities for such products. Read our complete case study here.

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cosmetic packaging

The Food and Beverage Industry is Hungry for Innovation

There are several emerging technologies at the forefront of the Food and Beverage industry. In an increasingly consumer-centric environment, companies are shifting their attention and investments towards product innovation, shopper behavior, and data analytics to gain a competitive advantage.

Companies in the Food and Beverage industry are faced with an increasingly health conscious, consumer-centric environment. New customer demands are forcing companies to adapt and pursue new technologies in order to create innovative products, develop more interactive and engaging marketing campaigns, and improve their capacity to garner valuable insights from the data they collect. Companies in the food and beverage industry are also learning to leverage new mobile and online technologies to drive sales, provide better service to customers, and efficiently analyze big data to enhance their understanding of customers.

Product innovation and Improved Manufacturing Processes

As healthy alternatives become mainstream, innovators are looking for new ways to improve food products. The focus for technological innovations is now on creating new and high-quality products, while improving the efficiency, productivity, and sustainability of production. A significant area of product development is focused around reducing the salt and fat content of food products. As consumers become increasingly health conscious, companies in the food and beverage industry, that can provide low-sodium or low-fat alternative will likely see a competitive advantage. One major innovation in this area has been the use of manufactured nanoparticles acting as alternatives, enabling companies to lower the fat and sodium content of food products, while simultaneously improving functionality and delivery.

Companies in the food and beverage industry are also focusing on driving innovation through rapid product development and commercialization, encouraging a faster overall innovation cycle. In order to achieve more rapid innovation cycles, companies are initiating collaborative partnerships with entrepreneurs in the hopes of developing products that can serve as differentiating factors for consumers.

In addition to product innovations, food and beverage companies are seeking innovation in their manufacturing processes. Companies are still pursuing “green” initiatives. However, many existing manufacturing platforms are not equipped to meet these emerging “green” agendas. As a result, technical innovations are likely to emerge in order to enable food and beverage producers to effectively and efficiently meet their targets.

Innovations in sensor tags are also helping companies improve efficiency and productivity. As sensor tags become increasingly sophisticated, they can verify best-before dates on products, detect breaches in taper-resistant seals, verify product quality, and improve bottling and packaging factory efficiency. These more sophisticated sensor tags, can increase productivity by reducing errors and improve sustainability by reducing the amount of packaging required.

Understanding Shopper Behavior and Improving Customer Loyalty

In addition to product innovation, companies in the Food and Beverage industry are also begging to leverage technologies to gain more insight into customer behavior and improve the efficacy of marketing. As consumers look to different sales channels to meet their needs, food and beverage companies must leverage mobile and online technologies in order to meet this demand and collect potentially valuable customer information. Mobile and online shopping is emerging as a significant source of revenue for food and beverage stores. In the U.S, E-commerce for food and beverage stores in 2012 totaled US$900 million, up more than US$200 million from 2010 . Mobile and online technologies also allow food and beverage companies to collect more targeted information on customers, which can be used to improve marketing campaigns.

E-commerce in the U.S: Food and Beverage Stores

In addition to a rise in e-commerce, companies are now integrating augmented reality (AR) technologies into their packaging, in order to diversify their marketing approaches. AR tags allow consumers to interact with a products packing through smartphones or tablets, unlocking games, puzzles, and other such activities. Not surprisingly, this type of marketing is most popular with consumers aged 12–18, and can help build brand loyalty from a young age.

Improving Data Analytics for Enhanced Insight

Another area of the Food and Beverage industry that will likely see technological innovation is data analytics. In a customer-centric environment, companies are looking to improved big data analytics capabilities to anticipate customer demands and adjust product offerings accordingly. Data analytics can be a significant driver of growth in the industry, and at this point, many food and beverage companies are not equipped to effectively and efficiently glean valuable results from the data they collect. This lack of capacity is a strong indicator of innovations to come, especially as food and beverage companies seek deeper customer insight, more effective brand and product management, and more competitive pricing strategies.

Future Innovations in the Food and Beverage Industry

In the Food and Beverage industry, new technologies are likely to emerge in order to develop more innovative products, predict customer demands, and improve customer loyalty. Innovations like nanoparticles, augmented reality tags, and big data analytics software will all enable food and beverage companies to differentiate themselves form their competitors. Companies can also leverage mobile and online technologies in order to drive sales and reach a broader range of customers. Moving forward, technological innovation and emerging technologies will likely materialize in these areas.

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