The NPD
Group, was once the leading foodservice menu management authority in the
world, certainly in the United States according to Steven Johnson, Grocerant
Guru® at Tacoma, WA based Foodservice Solutions®. While NPD continues to be ranked as the 8th largest market research
company in the world, operating in 20 countries, competition continues to
intensify looking at ‘Share-of-Stomach’.
Recenlty, King-Casey
and Personica (FishBowl), are
two companies specializing in restaurant data analytics focusing on marketing
and menu mix, announced they are working together to help restaurant brands
optimize their menus. They are going to
do that by combining King-Casey’s in-depth research of customer attitudes and
behavior with Personica’s best-in-class data and pricing analytics, this
partnership will help joint clients increase profitability with low-risk
enhancements to menu content and prices.
Let’s face it, at the intersection of
convenience store retail and restaurant all food marketers what to know what
consumers are eating and when. We all
know that menus are becoming increasingly digital, there are opportunities for
brands to create custom menus based on location, guest demographics, purchasing
behavior, and more. Using data gathered from POS and online ordering systems
along with consumer insights gained through in-depth research. This is a hot
area and competition will help drive more powerful insights according to Johnson.
Now that, King-Casey and Personica can make
recommendations to optimize restaurants’ menu strategy, design, content, and
pricing structure in a way that promotes profitability while encouraging repeat
customers it is taking direct aim at Crest and Menu Price Track products.
Tom Cook, Principal of King-Casey stated, “The
beauty of this approach is that it’s based on methodologies that our firms have
proven over the years,” … “For more than 30 years, we’ve been helping
restaurants increase sales and profits by applying our customer-centric menu
optimization process. Now, Personica’s analytical skills and algorithms enable
us to develop and test different product and pricing strategies to determine
which are best for improving business performance.”
Ted Babcock, Vice President Analytics Services
of Personica stated, “Our data-driven approach improves menu profit for our
clients, without negatively impacting customer buying patterns and behavior,”
adds. “While we focus on analyzing data that shows customers’ actual buying
behavior, King-Casey brings the ability to understand the sentiments driving
that behavior. By working together, we can provide clients a powerful
combination of recommendations to optimize their menu.”
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