How to Stay on Top of Food Industry Trends and Stay Competitive

In the ever-evolving dining world, keeping up with food industry trends is essential for survival. Whether you’re part of a regional restaurant franchise like East Coast Wings + Grill, or operating a single location, you need to have a pulse on what customers want. You need to understand and adapt to market shifts so you can set yourself apart from the competition, keep your brand fresh, and ensure your customers keep coming back.

Competition comes from everywhere – local mom and pop restaurants, online offerings, regional restaurant groups, franchises (regional and national) and large, national restaurant chains – and if you’re not keeping up with, or ahead of what they’re doing, you’re going to lose customers. Here’s why it’s important to keep up with trends and how to do it easily.
 

The Importance of Staying Trend-Savvy

• Customer Expectations: Today’s diners are discerning and picky. They’re looking for new experiences, innovative flavors, and fresh concepts. By keeping up-to-date on food industry trends, you can meet and exceed their expectations, making sure they come back for more.
• Competitive Edge: The restaurant industry is highly competitive. Knowing what’s popular can set your franchise apart, whether it’s through unique menu offerings or innovative service styles inspired by what’s trending.
• Market Responsiveness: Trends can appear from nowhere and become an overnight sensation. Being flexible allows you to pivot quickly, turn potential challenges into opportunities, and keep your franchise relevant and appealing.

 

How to Stay on Top of Food Industry Trends

 

1. Dive into Industry Publications

Start by soaking up industry insights. Read publications such as Restaurant Business Magazine, Nation’s Restaurant News, Eater, and Serious Eats and watch shows on Food Network and other food channels to see what’s trending in real-time. Regional newspapers and local blogs can also offer valuable insights into what’s hot in each franchise’s area.
At East Coast Wings + Grill, we make sure we’re staying on top of industry news through various publications and rely on our partners to provide intel that helps us stay aware and keep everyone in the know.

 

2. Leverage Social Media

Social media is a treasure trove of information and can be your best friend if you allow it! Follow relevant hashtags (#foodtrends, #restaurantlife, #culinaryinnovation) and connect with food influencers to see what they’re promoting. Platforms like Instagram and TikTok can provide real-time glimpses into emerging trends and customer preferences.

Personally, we enjoy following a variety of influencers who closely align with our brand, allowing us to see what our target audience enjoys. This insight helps us innovate and adapt our menu to meet their desires.

Additionally, you can use social media to gauge your customers and target audience’s interests. What are they posting and sharing? What are they following and liking? These can give you insights into their preferences and help identify possible emerging food trends.
 

3. Attend Trade Shows and Networking Events

Participate in events like the National Restaurant Association Show and engage in webinars and industry associations. They’re a goldmine for fresh ideas and give you the opportunity to hear from thought leaders and network with peers to gain fresh perspectives and inspiration.

Our CEO is attending the Restaurant Finance and Development Conference next month to stay up-to-date on the industry. We love learning about what’s happening in the food industry and hearing predictions for where things will go!
 

4. Conduct Market Research

Talk to your customers! Poll them to understand their likes, dislikes, and what they’d like to see more of. This direct feedback is invaluable.

Don’t forget about your staff! They often have unique insights into customer interactions and can suggest improvements or new ideas based on their experiences.
 

5. Tap into Your Supply Chain

Don’t limit your insights to just your customers. Your suppliers can provide a wealth of knowledge about market trends and what ingredients are hot. Collaborate with them to introduce new concepts or menu items aligned to the current trends.
 

6. Keep an Eye on Competitors

What are your competitors doing? Visit other franchises and local restaurants, browse their menus, walk yourself through their websites, and see what they’re doing on social media. What are they doing well? What gaps can you fill? Learning from your competition can spark ideas for your own restaurant.
 

7. Analyze Your Own Data and Stay Flexible

Looking at your data can help you spot trends. What menu items are flying off the shelves? What’s gathering dust? Financial records and sales data can reveal critical insights that help you refine your offerings.

When you’re part of a franchise, like East Coast Wings + Grill, it’s important to remember that while you want to try and offer a consistent experience across locations, data and trends will vary from location to location. What works in one city might not resonate in another. Use each location’s data to gather insights and provide options that fit both your overall brand and your specific locations. It’s ok to adapt your approach based on each market’s unique needs.
 

8. Experiment and Innovate

Don’t be afraid to try something new. Experiment with unique dishes or service styles and see what sticks! Encourage your staff to share ideas; they’re often the first to spot emerging trends from customer interactions.
 

9. Look Beyond Your Industry

Finally, keep an eye on trends outside of the restaurant industry. Changes in tech, lifestyle, and culture can all influence what and how people eat. Being open to inspiration from other industries can lead to creative and unexpected ideas.
 

Use the Tools You Have at Your Disposal to Drive Success

In the fast-paced restaurant world, staying on top of food trends is not just a nice-to-have—it’s a must. By tapping into the resources around you, from publications to social media, and keeping the lines of communication open with your customers, suppliers, and team, you can ensure your franchise remains a vibrant, relevant, and enticing destination for diners. Embrace the change, adapt to the trends, and watch your restaurant thrive!

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