The food and beverage industry is ultimately controlled by consumer demand. Today’s dining trends continue to shift due to a number of outside factors, but there is one buzzword that continues to reign supreme when looking at what drives demand: value.
The three qualities that have always driven value in restaurants are the customer experience, quality and freshness of food, and affordability. In addition, consumers are paying closer attention to a brand’s mission and transparency in its messaging. For brands in the food and beverage industry to stand out among competitors, they need to find a way to present the highest value to loyal guests and to attract new users. However, as a heightened consciousness for fresh ingredients continues to take up more space in consumer behavior and decision making, brands need to take a closer look at what “value” looks like in today’s era.
Defining “Value”
Historically, value has always been about the entire customer experience, however the industry is beginning to see a shift in what the key driver behind dining decisions is. While price remains a major influencer in consumer behaviors, it is no longer the sole leading factor. The term “value” is expanding to include quality, convenience, transparency, and the overall guest experience.
Emphasizing high-quality ingredients is just as important as focusing on affordability. In turn, an added focus on quality control and a commitment to freshness enhances the entire customer experience. For Taco John’s, this means that each franchise location uses house-made ingredients, cooks fresh food daily, and complies with food safety standards and regulations. When looking at traditional value menu items, brands should never compromise on freshness, taste, and quality for lower prices.
The Demand for Quality
As consumer expectations continue to rise, brands are prioritizing high-quality ingredients now more than ever before. The industry is seeing a drastic shift in focus towards transparency and how it plays a direct role in consumer decision-making. Consumers are more knowledgeable now than ever about what they are purchasing and eating, and seek out brands that align with their values. Today’s brands need to provide consumers with the confidence that they are eating fresh, high-quality ingredients.
Prioritizing quality improves the customer experience as freshness is now at the core of what consumers are seeking. While convenience and affordability remain key qualities that shape the customer experience, the QSR and FSR space needs to adjust its strategies to also highlight ingredient sourcing. Guests want to know where their food comes from, how ingredients are stored, and if they are frozen or made fresh. Providing customers with the confidence that they are eating fresh, high-quality ingredients will increase customer loyalty and build a strong brand reputation.
Technology’s Role in Value
As technology continues to influence nearly every aspect of the industry, it’s important to determine how brands can utilize technology tools to increase value. Technology streamlines back-of-house processes to create the most efficient experience for customers. Cloud-based POS systems, AI-driven tools, and online ordering systems can allow more customers to be served without compromising on the quality of their meals. These tools are especially useful because they have the capacity to integrate inventory management, payments and transactions, and sales monitoring onto one platform, giving owners and operators a clearer picture of where they can improve their systems. Efficiency directly ties into value, as shorter wait times increase freshness and allow for more human interaction, which improves the customer experience.
Customization is also key when looking at value and dining trends, as this ensures that customers are getting exactly what they want. Technology aids in customization and makes it much easier for brands to place and fill orders accurately.
Streamlining operations is another crucial way to ensure high-quality meals across the board. Technology allows for better process and inventory control, including refrigerator management, real-time updates on the freshness of ingredients, and a clearer vision of the high standards that need to be met by the team. Technology’s role in the value of products a brand offers is undeniable. At the rate that technology continues to advance, it’s important to lean in, stay ahead in the game, and embrace advancements as they are made.
As the industry continues to evolve and outside factors affect brand decision making, I believe that offering healthy, fresh, and high quality ingredients will help position us as a key competitor in today’s “value wars.”
Heather Neary is the President and CEO of Taco John’s. Joining in February 2024, Heather brings more than two decades of relevant restaurant, brand, and franchise leadership experience to her new role, where her goal is to lead Taco John’s to the next level of expansion and success. For more information on Taco John’s, visit https://tacojohnsfranchise.com/.
