Brand relevance is driven consumer interaction and participation with innovative food products in combination with new avenues of distribution all of which are the platform for the new electricity according to Steven Johnson Grocerant Guru® at Tacoma, WA based Foodservice Solutions®. Part of the new electricity according to Merchant Centric is elevating that interaction and participation on a social platform.
Johnson stated “that in my minds-eye the new electricity must be very efficient for the supply and includes such things as fresh foods, pricing, grocerant positioning, urban farming (produce, seafood, etc.), autonomous delivery, cashier-less retail, digital hand held marketing and portability.
Foodservice retailers to survive the next generation of retail must embrace the artificial intelligence revolution while simultaneously embracing fresh food that is portable, fresh, with differentiation that is familiar not different. That will require brands to embrace new fresh food partnerships more now than ever before according to Johnson.
Recently Merchant Centric, reveled in a new research study in conjunction with Xenial, a leader in the restaurant technology experience, showing a 66 percent jump in online reviews of businesses. In the restaurant sector, the significant increase in online reviews suggests the growing impact, both positively and negatively, that these reviews can have on revenues. For example, according to a report by Harvard Business Online, a one-star bump in a Yelp rating can translate into a 5- to 9-percent increase in revenue.
As a result, restaurants are becoming far more proactive in engaging with guests’ online reviews. According to data from March 2017 to March 2018, there was a 29 percent increase in the rate of restaurants that have responded to online reviews. Overall, restaurants engaged with guests at a 46 percent higher rate compared to other businesses.
David Bay, CEO of Merchant Centric stated “Our research shows consumers rely heavily on online reviews and social media for restaurant recommendations,” “Reviews have become incredibly influential since people consider them as first-hand reliable accounts, as if it was a friend giving their opinion. It’s now vital for restaurants to interact with online reviews in order to increase revenue.”
Christopher Sebes, president of Xenial stated “Online reviews are the new word-of-mouth, and a single review or post can have a dramatic impact on a business when it reaches thousands or even millions of users “Actively engaging with both favorable and negative reviews can have an enormous impact on one’s business. Our data shows that customers respond more positively to a business that engages with them, and that’s why this technology is so instrumental in improving the consumer experience and driving sales.”
So just what is your New Electricity? Success does leave clues www.FoodserviceSolutions.us is the global leader in grocerant niche business development. We can help you identify, quantify and qualify additional food retail segment opportunities. Has your company had a Grocerant ScoreCard completed a Grocerant Program Assessment, or new Grocerant niche product Ideation? Want one? Call 253-759-7869 Email: Steve@FoodserviceSolutions.us