Snacking is taking up a commanding space at the table when it comes to food consumption. Survey data shows that snacking gobbles up 50% of all eating occasions,1 and one in four millennials snack four or more times a day.2
Nothing feeds the foodservice bottom line like loyal customers. As the National Restaurant Association reported, repeat customers account for as much as 70% of a restaurant’s revenue.1 These patrons are also more likely to have a higher check average, given survey data that shows a 60-70% probability of upselling to an existing customer, compared to 5-20% for new ones.2
Consumers who hunger for the speed and convenience of restaurant apps are occupying an increasingly prominent place at the foodservice table. The market research and analytics firm DMI dubs them “mobile reliants”—millennials who have come of age during the rise of digital connectivity and who eat up the at-your-fingertips features (like mobile ordering and payments) of quick service apps.1
Leave it to the magic of social media to turn the myth of the unicorn into a dream come true for savvy food and beverage brands and foodservice operators. Unicorn food and beverages—those colorful, Instagram-worthy creations that surprise and delight a vast, visually oriented millennial market—are literally custom-made for the age of social media.
“Unicornification” (typically the act of dying food into a dazzling rainbow of pastels, often with a dash of glitter) has morphed everything from cheesecake, fudge, frappes, milkshakes, toast and cocktails into a shimmery, multicolored feast for the eyes.
Meal kits are elbowing their way to a place at the big-box table as major food retailers strive to satisfy the consumer’s hunger for convenient meal solutions.
As reported in our last post on the subject, it wasn't that long ago that meal kit sales broke the $1 billion mark. Now a $2.2 billion business with an expected annual growth rate of 25-30% over the next half-decade,1 meal kits continue to deliver big business for subscription services like Blue Apron and Plated. And, as Albertson’s $200 million purchase of Plated shows, more traditional segments of the food and beverage industry want in.
There’s a lot to love when it comes to social media. Today’s consumers certainly seem to think so. According to data from Mintel, a leading provider of market research, insight and analysis, 93% of Americans are social media users.1
Limited-time offers have gone a long way for a long time, and foodservice operators continue to get a lot of mileage out of them as go-to business boosters.
Soggy sales are putting a damper on the cereal market, sinking business for some major brands. The popularity of this once-perennial staple has been declining for years as consumer preferences have shifted to better-for-you and grab-and-go breakfast options.
More and more restaurant operations are serving up loyalty programs to help drive sales and build customer loyalty.1 As technology-driven innovations such as app-enabled takeout transform the foodservice industry, restaurant loyalty programs are experiencing a surge in popularity worldwide.1
In a poll last year of 6,500 internet users in eight countries, multinational computer technology company Oracle found that 65% of respondents in the U.S. belonged to foodservice loyalty programs.1 The popularity of such programs was highest in respondents from the States, with Brazil (64%) and Mexico (62%) close behind.1 In Great Britain and Australia, more than half of consumers surveyed said they were foodservice loyalty program members.1