Weekly Roundup – Week of 4.8.24
April 12, 2024
Explore the week’s most newsworthy food and beverage stories – all curated by our team of strategists and food enthusiasts:
A Fresh Perspective On Limited Time Offers
Megan Lynberg, a 15-year veteran of the restaurant industry and current VP of Sales at Datassential, joined a podcast with The Food Institute to share insights, LTO trends timeline, and what the future holds for limited-time offers. Lynberg emphasizes the pivotal role that LTOs play in driving excitement, revenue, and foot traffic for operators. However, she underscores the importance of maintaining a strong core menu. Despite the allure of LTOs, patrons often also add their tried-and-true favorites when placing orders. Moreover, operators now have the flexibility to command premium prices for these exclusive LTO items, and consumers are increasingly willing to pay more for the promise of something unique. The top categories for LTO innovation, Lynberg explains, are beverages, appetizers, sides, and desserts. Listen Now.
New Trends Expected to Rev Up Sales at Convenience Stores This Summer
Convenience store operators are gearing up for a season of mouthwatering delights. With summer menus in the spotlight, it’s crucial to stay ahead of the curve by incorporating the latest trends predicted by industry experts. According to Katie Belflower, editor at foodservice consulting firm Technomic, spicy-sweet flavor combinations are set to steal the show, with hot honey and Sriracha leading the charge. In addition, brace yourself for an explosion of tropical and global fruits across menus, from flavored yogurts to refreshing smoothies and decadent desserts, while flavorful veggies are also expected to make their mark on menus. For all trends, Read Article.
A Deeper Dive Into What’s Behind Soaring Delivery Fees
The team at The Hustle aimed to uncover the driving forces behind these surging costs. From service fees to investments in-app platform growth, there’s more to the story than meets the eye. According to insights from Vox, ordering through a delivery app often comes with a hefty price tag compared to ordering directly from a restaurant. DoorDash imposes a 15% service fee with a minimum charge of $3, while Uber Eats’ service fee varies depending on the order size. Meanwhile, third-party delivery apps can absorb as much as 30% of a restaurant’s order subtotal, leaving operators to contend with shrinking profits. On the other hand, these delivery services are also investing billions in revenue on research and development. Read Story.
Phasing Out Third-Party Cookies For Contextual Commerce: What Brands Need To Know
As Google Chrome transitions out of third-party cookies, food brands are left pondering the implications. Recent research from Chicory and studioID unveils the potential of contextual commerce as an impactful marketing strategy. Contextual commerce thrives on turning commerce-oriented content into actionable shopping moments, all without the need for first or third-party data, offering marketers benefits such as scalability, personalization, effectiveness, and cost-efficiency. The research indicates that by targeting highly motivated consumers in the moments that matter most, contextual commerce empowers brands to reach existing, new, and lost customers alike, bolster brand awareness, and drive sales. Perhaps most importantly, contextual commerce provides a shield against impending regulatory changes and consumer privacy concerns. A downloadable report is available from Chicory, Here.
Korean Cuisine Carving Out A Distinctive & Powerful Culinary Niche
Korean culture has left a lasting mark on the U.S. and global culinary landscapes. The Korea Daily’s latest report highlights that South Korea’s food and cuisine exports soared to a record-breaking $1.74 billion in 2023, with promising projections for the year ahead. The rise of Korean-style chicken, affectionately known as K-chicken, with its tantalizing blend of spicy sauces and signature “crispy outside, juicy inside” texture, has become a household and restaurant favorite across the U.S. From trendy restaurants to grocery shelves, Korean cuisine has carved out a distinctive niche in today’s culinary world, and manufacturers who look to integrate Korean flavors and cuisine in their offerings could take a lucrative share of this global phenomenon. Learn More.
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