Fast Food Industry Trends Shaping the Future of the Industry | Infiniti Research
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Fast food industry trends that are shaping the future of the industry. (Graphic: Business Wire)
The has been witnessing significant changes over the years. The cutthroat competition has been one of the major factors driving the growth of this industry. However, the current market scenario is witnessing some changes in consumer behavior. Consumers of today are shifting towards healthy food choices, but this isn’t going to affect companies operating in the fast food industry substantially. The fast food industry still generates a revenue of more than $570 billion, which is significantly higher than the economic value of many countries.
“To meet the changing consumer preferences and demands, fast food industry players are faced with the need to innovate and customize menu options as the industry is expected to have a positive outlook until the end of 2020,” says a food industry expert from Infiniti Research.
Fast food industry trends that are impacting the market:
Speedier payment methods
One of the main reasons behind the growth of the fast food industry is the reduction in the wait time for services. To make the most of this trend, companies in the fast food industry are implementing various methods and strategies to reduce the wait time for both services and payment section by enabling quicker transactions. This has led to the introduction of advanced payment options for customers. Such payment methods include mobile in-store payments and apps, digital currencies, eWallets, and payment through social media platforms.
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Revamped menu cards
With the increasing health awareness among consumers, the demand for tasty and healthy food has increased significantly. This has forced companies in the fast food industry to revamp their menu cards and introduce items that will satisfy the demands of the customers. The intention behind revamping the menu cards is to maintain the inclination of consumers towards fast food in the years to come as well. To know how identifying key fast food industry trends can help you boost revenues for your companies,
Automation in fast food
With the advancement in technology, several big players in the fast food industry have started automating their processes to reduce the risk of order errors. This has resulted in the use of self-order kiosks in outlets and minimizing the wait time for customers. Moreover, automation will help fast food industry players to increase productivity, enhance quality, and improve brand awareness by maintaining a healthy relationship with end consumers.
Exotic blend in the plate
To survive in this highly competitive market, fast food industry players are discovering new ways and marketing strategies to allure their customers. This has brought some exotic flavors to the platter of customers that were rarely seen or served before. These flavors include every food, fruit, spices, and leaves that were not native to a particular area.
Social media has increased the craze for pictures drastically. Consumers love food items that look good in photos. This has compelled fast food companies to offer items that are visually appealing. However, this doesn’t mean that fast food industry players can play with the taste.
Bold and Scrumptious
Contrasting flavors are in demand in the fast food industry. Consumers are more open to trying new things that did not exist earlier. This is a great opportunity for fast food industry players to experiment and bring something that sets them apart from their competitors. Moreover, it is a great way to experiment something new with the ingredients and turn new customers into loyal customers. To know more about the ongoing fast food industry trends influencing the industry,
Consumers of today are much busier than were before. They want to be served at the earliest. This makes it vital for fast food industry players to work on their speed and convenience. Restaurants lacking in fast customer service won’t be preferred by consumers in the long run. Therefore, fast food industry players need to ensure timely and easy access to food items.
Old is the new gold
Many fast food industry players are rediscovering items that have become uncommon in the current scenario. They are bringing the retro flavors back to gain an edge over their competitors by making them mainstream. For instance, food items like pastrami and corned beef sandwich are gaining huge popularity at present times.
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SOURCE: Infiniti Research
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PUB: 11/22/2018 09:18 AM/DISC: 11/22/2018 09:17 AM