Thursday, April 10, 2014

Has Technology Speeded up how we Define Fast Food?

Wonder why fast food, fast casual and even faster the grocerant niche, filled Ready-2-Eat and Heat-N-Eat fresh prepared food are driving growth? Euclid has technology that anonymously tracks cell phones. The tracking of cell/mobile phones in and around stores provides some interesting insights that restaurants should be paying attention too.  

First, Euclid’s anonymously track of phones as they pass by various shopping malls and stores. Euclid takes 6 billion measurements a day and analyzes 250 million potential shopping sessions a year across thousands of locations.

The most recent Euclid study found that “In March, the number of shoppers who entered a store as a percentage of total foot traffic was 9%, up a percentage point from the same month last year. However, many of those shoppers entered the store and left relatively quickly.”

Restaurants take notice “The study found that “10% of shoppers who entered a store left within five minutes, a couple of percentage points higher than a year ago. Of course, this begs the question of why, for which there could be numerous explanations. Shoppers could be more focused, going directly to what they want and buying it.”…

Speed of service is important to consumers.  Are you starting to think that the total number of QSR’s, combine fast casual restaurants is up? Simply put YES.   Traffic decreased a percentage point from the previous year, so restaurants may want to figure out the reasons that service times are slowing in drive-thru’s or at the counter.  Even the people who didn’t leave a store within five minutes didn’t spend as much time in it as a year ago, decreasing a minute to a 23-minute visit.  How long do customers want to wait for a check when they are done dinning?

The study also found “number of people who returned to a store location more than once within 30 days totaled 13% of total visits, also down from the same time last year. Whether short attention span or shorter times in stores, retailers have a limited window to influence all those shoppers who prefer going to a store.”

The grocerant niche is booming.  Ready-2-Eat and Heat-N-Eat food saves cooking time and clean-up time.  Customers are time starved and utilizing technology, new points of distributions and meal assembly over cooking?  How are you selling fresh prepared food?  Where? Are you selling food faster today than you did last year?   

For international corporate presentations, educational forums, or keynotes contact:  Grocerant Guru at Tacoma, WA based Foodservice Solutions.  His extensive experience as a multi-unit restaurant operator, consultant, brand / product positioning expert and public speaking will leave success clues for all.

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