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food retail

How to Recapture Growth in the Fast Food Industry

Fast food companies have enjoyed high profits despite offering products and services at low costs over the years. However, the shifting consumer demand to healthier and premium quality products at the existing price points have left fast food chains grappling for ways to satisfy these needs. The fast food industry is primarily characterized by convenience, affordability, and speed. But modern customers in the sector are looking for this and much more from players in the fast food industry. Companies in the fast food industry that are able to identify and align their strategies to suit the changing market demands can ensure a stable future for their business. Fast food industry experts at Infiniti Research identify some critical strategies that can help companies in the sector to turn a reasonable profit through increased operational excellence and improved customer service strategies.

Although companies in the fast food industry can expect challenging times ahead, capitalizing on the right opportunities can help harness growth and profitability for players. Request a free proposal to know how our solutions can be tailor-made to cater to your business’s unique challenges and help you seize profitable business opportunities.

Fast food industry

Listen to your customers

In the case of any service industry, knowing what your customer wants and effectively catering to their demands is paramount. As consumer demands shift towards healthier and better quality food ingredients, top companies in the fast food industry have already started to incorporate these fast food industry trends into their business. Furthermore, some fast food companies have also begun to make the food in front of the customers so that they can witness the quality of ingredients used and be convinced of cleanliness and nutrition in the food that they consume.

Learn more about how we help clients in the fast food industries with agile business strategies

Transparent marketing strategies

You may often find that in today’s digital age, not all marketing strategies of fast food companies take off as expected. One of the main reasons for this is due to the lack of transparency in the marketing strategies of fast food companies. In the age of empowered customers, people have wider options to gain more information and voice their opinions than ever before. Showcasing transparency in operations as a part of the marketing strategies is one of the best ways for fast food industry companies to garner and maintain customer loyalty.

Identify untapped niche

Millennials were earlier an untapped niche for fast food companies. Reaching out to such untapped segments can open up new business verticals for companies in the fast food industry. For instance, recently a well-known fast food chain reached out to millennials in two ways: firstly, by engaging with customers and providing through online channels and by secondly, by giving this customer group a sense of community by promoting authenticity and inclusion through workshops and tastings. This also resulted in several consumers documenting their experiences through social media and word-of-mouth, enhancing the branding of the company.

Gain more insights on Infiniti’s solutions for companies in the food and beverage industry

Processed food industry

Playbook for Success in the Modern Food and Beverage Industry

The total revenue of the global food and beverage industry is skyrocketing with each passing year. Although the quality of products or service plays a significant role in the survival of food and beverage companies, this no longer remains the only ingredient for success in the food and beverage industry. With the ever-changing market trends and the growing need to satisfy changing consumer demands, companies in the sector must be on their toes to grasp new food and beverage industry trends. It is also important for businesses in the sector to identify ways to leverage maximum benefits from the market opportunities. Based on our discussions with several prominent food and beverage companies from different regions, here are some key takeaways on how the food and beverage industry is changing and what companies in this sector must do to thrive.

With consumer demands and preferences changing rapidly, it’s time for food and beverage companies to take a fresh look at their strategies to better connect with target consumers. Request a free proposal to know how we can help you achieve this.

Trends disrupting the food and beverage industry

Catering to a new group of shoppers

The old rules of the CPG no longer work with the new-age shoppers. Millennials and Gen Z consumers are inclined to brands that fit their lifestyle. This group of consumers are known to shy away from manufactured marketing of traditional food and beverage industry products. They favor ‘real ingredients’ and expect labels to be clear and easily understandable. Moreover, the internet has brought about drastic changes to customer expectations not only online but also in the store. Younger consumers want to be able to order ahead, pay, and capture loyalty rewards, all by using their phones. Catering effectively to this new group of consumers should be a major milestone for companies in the food and beverage industry.

Direct to consumer channels for launching new products

New players in the food and beverage industry often start out by selling directly to consumers, mostly using online channels. Direct to consumer brands are often more successful in capturing deep data on their target consumers which can be further used to deliver personalized consumer experience, refine product strategy, and build long-term customer relationships. By selling directly, players in the food and beverage industry can also experiment with new business models. Furthermore, when these brands plan to move to brick and mortar, it can dramatically enhance their chance of success.

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.

Focus on smart growth

With so many brands in the food and beverage industry and ample choice available to consumers, retailers are often quick to pull the chord on products that fail to deliver quick sales or even attract new customers. When launching a new product in the food and beverage industry, it is always better to start small in order to be able to manage the complexities of retail distribution. Brands that focus on expanding too rapidly could run into crippling cashflows or may even face critical manufacturing or supply chain problems. Also, increased focus must be given to communicating stories at the shelf via packaging, promotions, shelf-edge marketing, and the other tried and tested tools of retail marketing.

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Food and beverage industry

Infiniti’s Trend Analysis Solution Helped a Fast Food Company to Exceed their Revenue Expectation and Enhance Profit Margins by 22%

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. CONTACT US to know how our trend analysis solution can help you keep pace with market changes and adapt quickly to the evolving marketplace.

Fast Food Industry Trends 2019

Fast Food Industry Trends 2019

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market intelligence

Current Trends and Challenges to Watch Out for in the Fast Food Industry

Looking back, there has been a drastic change in the food-habits people have been following around the globe over the years. With the dawn of the fast food revolution, pizzas and burgers have been ruling the taste buds of people around the world. However, this trend took a ‘U-turn’ back to healthy eating habits because of the growing health concerns and increasing popularity of healthy food among consumers. But this drastic change has not taken a severe toll on the fast food industry yet. Globally, the fast food industry generates revenues of over a whopping $570 billion – which is higher than the economic value of most countries. According to Technavio’s report on global quick service restaurant market 2016-2020, the global quick-service restaurants market is expected to grow at a CAGR of almost 4 % during the period. Join us as we explore some of the latest trends and challenges in the fast food industry:Contact US

 

Fast Food Industry Trends

With increasing competition in the fast food industry, innovation and change have become inevitable to keep your customer base in place. The players in the fast food industry are continuously experimenting with new techniques, which will help them to attract potential customers and simultaneously maintain the loyalty of existing ones. Below are some of the trends that are influencing companies in the fast food industry:Trends and Challenges to Watch Out for in the Fast Food Industry

  • Speedier payment methods The idea of reducing the wait-time in service was one of the primary drivers that led to the birth of the fast food Brands operating in the fast food industry are trying to formulate new ways in which they can make transactions faster and easier. Several companies have formulated methods and apps by which customers can now directly pay through their phones by enabling quicker transactions.
  • Revamped menu cards – The tug of war between the demand for healthy food and tasty, indulgent ones are forcing players in the fast food industry to add a pinch of nutritional touch to their products. The whole idea is to prevent the loss of customers due to their inclination towards healthy food habits.
  • Automation in fast food – Several popular food chains such as McDonald’s have already introduced automation through self-order kiosks in their outlets to make the food ordering process simpler and quicker. Automation in the fast food industry will reduce the risk of order errors and also reduce the wait time for customers.

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