Franki’s Post

🚀 Menu Makeover: Unveiling Consumer Insights Revolution! 🧠 In a game-changing revelation, the restaurant industry is shaking off decades-old norms, challenging the reliability of conventional insights. A recent study by Revenue Management Solutions, the University of South Florida, and iMotions has debunked the reigning, and stale, paradigm on how consumers read menus. It turns out that by re-thinking menu structures, the industry has begun rewriting the rules! These insights transcend menus, impacting #advertising, #travel, and #CPGs. Modern marketers take note: this is another solid proof that data is powerful when used right, and understanding the 'why' behind consumer behavior is paramount. It is time to embrace modern behavioral science tools or risk falling behind - because the most dangerous phrase in business is 'We've always done it this way.' 🌐💡 #ConsumerInsights #MenuRevolution #DataDrivenSuccess #humanbehavior https://lnkd.in/ekbwndrW

What can we do for you? Instead of us baffling you with fancy words we thought we would let one of our clients do the talking. ‘’GFS has been instrumental to the growth and success of Prep Kitchen.  Amir and the team are dedicated, passionate and deliver over and above week in week out. They have levelled up both our recipes and content with incredible attention to detail. Any idea we have thrown at them has been made a reality, creating dishes that are on trend, vibrant and most importantly for our business, healthy and macro friendly. The content they have created has helped us to reach new audiences across paid media driving down CPA's and allowing us to convert customers with greater efficiency. Not only are they wizards in the kitchen but also can assist with process development and procurement. This year alone they have saved our company multiple 6 figures.If your full looking for a full stack, 360 studio to bring your ideas to life, look no further. GFS will treat your business like their own and considering we are now one of the leading meal prep manufacturers in the UK, the results speak for themselves.” CEO, Prep Kitchen . #innovation #food #drink #foodindustry #retail #foodservice #hospitality #hospitalityindustry #foodtrends #insights #trends #trendforecasting #trendanalysis #research #trendspotting #foodanddrink #foodandbeverage #foodandbeverageindustry #fooddevelopment #hospitalityconsulting #newproductdevelopment #development #restaurant #strategy #menudevelopment #menudesign

Data has become an invaluable asset for restaurants seeking to thrive in a rapidly evolving, highly competitive, landscape. 📈 Leveraging data can unlock a world of opportunities for restaurants to stand out from their competitors by meeting customer preferences, improving operational efficiency, optimizing menus, and creating effective marketing strategies. Leaders should embrace data-driven decisions to create personalized dining experiences, streamline operations, and build lasting customer relationships. #DataDrivenDecisions #RestaurantIndustry #CustomerExperience #Innovation

The fast-casual revolution is transforming the restaurant industry, blending technology, social media, and changing consumer preferences. Entrepreneurs backed by venture capital and private equity are creating innovative concepts that prioritize transparency, customization, and high-quality ingredients. Discover how these new fast-casual dining experiences are captivating diners and reshaping the food landscape. #FastCasual #FoodInnovation #DiningTrends https://lnkd.in/eyjedmHm

Are Restaurants Truly Innovating or Just Sinking into Complacency?As restaurant sales continue to decline, many owners blame the economy or the pandemic. But is it really external factors, or a lack of innovation? With more consumers opting for healthier choices and cooking at home, are predictable and unhealthy menus cutting it?Let’s debate: Are we adapting, or just waiting for a return to “normal”? What innovative strategies have truly worked for you?Time for a reality check—join the conversation!

The future of restaurants Creating dynamic value in the new normal The consumer industry is undergoing dramatic change that will likely influence the markets, models, and mechanics of companies in significant ways over the next decade. As challenges emerge and opportunities present themselves, restaurants need to be prepared to innovate and drive the industry forward. So, when change comes, will you be ready? https://lnkd.in/gE8HxD9h

My 2024 prediction list for Nation's Restaurant News is more like a 2024 wish list... 1. I would like for the consumer to remain resilient and for no shoes to drop, despite growing predictions otherwise. 2. I would like for the industry to harness pricing levels (and do not envy anyone who has to make those decisions right now). 3. I would like even more marketing levity. The restaurant industry has done a tremendous job catching lightning-in-a-bottle moments and it’s provided a nice distraction for American consumers who have been beaten down by a once-in-a-lifetime pandemic, debilitating inflation, geopolitical crises and so forth. This industry is meant to be fun and social — an escape — and regardless of whatever drama happens in 2024 (because we’re all bracing for more at this point), I hope we never forget that. Check out more below, including predictions from my brilliant colleagues ... Cheers! 🥂

After three years of stiff headwinds caused in part by consumers preferring to eat at home during the pandemic, restaurant operators saw business rebound in 2023, aided by slower inflation in food prices, an improving labor market and fewer bottlenecks in their supply chains. Learn more from Bank of America's latest Restaurant Report.  

In the U.S., the split of sales between full-service restaurants (FSR) and limited-service restaurants (LSR) has been close to 50-50 for a long time. However, LSR is dominating the landscape of the fastest-growing emerging concepts (based on the 2023 rank for the 50 fastest-growing emerging concepts) with a share of more than a 60% of sales. What are the best categories to get into: Asian, burger, chicken, coffee, Greek, healthy, etc.? What are the ones that will grow faster in the future? Should we create concepts or acquire or invest in existing ones? These are some of the questions we’re helping our clients all over the world answer. #restaurants #growth #strategy

🍔 Exciting Times in Fast Food Innovation! Wendy's is embracing a game-changing approach with dynamic pricing, a strategy well-known in the travel industry. Check out this insightful article from Food & Wine shedding light on Wendy's new venture: https://lnkd.in/gM9erG3C Dynamic pricing has been a staple in travel for years, allowing businesses to adapt to demand and optimize revenue. Now, Wendy's is bringing this concept to the food industry. It will be fascinating to witness the ripple effects and customer response. In an era where adaptability is key, industries are finding inspiration in unlikely places. #Innovation #DynamicPricing #FastFoodRevolution #wendys #adaptiveleadership #optimizeyourbusiness