Consumer Trends to Watch in 2015

 

February 20, 2015

According to Technomic, our partner and leading provider of consumer focused research and insights for the food service industry, there is good news on the horizon relative to consumer spend in the restaurant space for 2015.

  • Lower gas prices are driving up consumer disposable income
  • As consumer disposable income increases slightly year over year, that spend will also increase in terms of the amount of money spent in restaurants

Additionally, we will see remarkable shifts in consumer behavior in 2015.

HERE ARE THE TOP 5 KEY TRENDS FOR 2015

Shifts in Patronage – Consumers will source food/beverages from a wider variety of locations

  • 60% buy prepared foods from traditional groceries monthly
  • 37% buy foods from convenient stores monthly
  • 17% visit food trucks monthly

Technology as a ‘Must Have’ – Technology will play an increasingly important role in driving consumer visits

  • Consumers increasingly expect free WiFi (up 24% from 2012)
  • 51% of millennials are interesting in paying via smart phone


Need for exceptional value
– Consumers will place even greater demand on operators to justify prices

Scale

  • Value is driven by ‘quality’ and ‘experience’ more so than by cost (enter value and service on the bottom scale and price on the top scale)
  • Food Quality = 37% of the equation
  • Service = 35% of the equation
  • Cost = only 28% of the equation

Demand for Build Your Own – Expect Build Your Own options to increase as a way to provide scalable variety.

  • 47% of 18-44 year olds would like build your own options
  • 51% of consumers say customization is highly important in creating good value

Interest in Ingredients – As consumers learn more about what they eat, demand for transparency will increase

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