Food Technology Market Research
The rise of Digital Technology presents new opportunities for boosting customer loyalty, profitability and revenue. Apps, tools, mobile payments and smartphones are revolutionizing how consumers eat. When examining the impact of technology on the food industry, there is the business perspective as well as the consumer view.
Technology for food businesses
Every part of the food industry has witnessed, and continues to see, the influence of technology. There are several ways that advances in technology can affect the food industry’s “food chain.”
- This includes the growing, harvesting, production/processing, and packaging of foods.
- It also includes the logistics of warehousing, distribution, delivery and tracking of sales to the consumer.
- Among the most important aspects is safety testing and the need to guarantee the quality of food. Often, the only way to test and monitor foods or beverages for contaminants and other harmful items is with the use of technology, much of which is now automated.
- Digital Disruption may open up new markets, but also allows new market entrants to disrupt industries cost effectively. Conducting Competitive Analysis and Strategy Consulting can identify ways to limit threats from New Market Entrants and threats to market positioning.
Technology for food consumers
In addition to the business side, technology is impacting how consumers interact with food and food services.
- Saving time commuting, shopping and preparing meals is a growing factor among certain demographics, especially millennials.
- As such, retailers and restaurants are not the only sources for shoppers. Many food preparation companies now chill, freeze, pack and deliver meals direct to one’s residence.
Food Tech and Delivery Apps
- Technology makes it easier for consumers to order online for immediate consumption (e.g. Domino’s app to order and then have pizza delivered via autonomous vehicles using GPS)
- Just like car-sharing services (Uber, Lyft, etc) are being used to deliver “fast food” and other take-out orders, apps such as from Grubhub, Postmates or Doordash allow one to order from online restaurant menus and get fast casual or fast food.
- Mobile payment apps using smart phones enable consumers to replace plastic and cash.
We address strategic questions with your companies through Market Research and Consulting. How does your company interface with such apps? What data is collected that can be used to grow your market and attract new, as well as repeat orders? Is your website and/or app easy to use? Research and strategy provide powerful answers to your most important business questions.
The role of Food Tech Market Research
If your company operates in the food marketplace, there is a tremendous volume of news and developments that need to be regularly monitored.
- To keep abreast of all the new machinery, equipment and their applications that make the supply chain more efficient, you might want to outsource this task to a third party that specializes in scanning, gathering, analyzing and summarizing the key indicators you care about.
- If your questions require information gathering techniques beyond “desk research” (the performance of secondary research online or through the review of print media), you need to figure out who to ask that might have the answers to your questions.
Some important strategic questions include:
- How are these trends impacting my business and my competition?
- Which companies are leading in the development of new technology?
- Which local markets are using apps, and are they being used in other parts of the world?
But who do you ask about the impact of technology? In the business world, different titles and functions can each answer a set of questions that are of interest to you.
SIS can help by contacting and obtaining answers from individuals who hold any of these functions who either make or influence the buying decision for technology in their organizations.
- Senior management
- Research & development
- Health & safety
When you want to learn about consumer behavior and how technology is affecting their lives, you again need to identify the types and characteristics of the people you need to study. SIS assists in targeting such individuals and contacting them to answer questions that will guide your key marketing strategies.
SIS has over 35 years experience in providing Market Research and Strategy Consulting to Food Technology companies. We have developed a core competency in Digital Innovation and helping companies to understand “The Human Element” in technology adoption. We provide the insights, data and strategies to boost sales and outmaneuver competitors. We conduct:
- Online Research Communities
- Focus Groups
- Video Interviews
- Online Mobile Surveys
- Competitive Analysis