Commodity deflation compromises the growth of supermarket revenues. Demographic and generational change affects dining-out behaviors. Dining experiences on one day and out the next. The 1.5 trillion U.S.
food service, restaurant and grocery industry is a dangerous battleground for being competitive. The ability of companies to keep up with advanced technologies and harness the power of data can go a long way in determining their success. As is their dominance of today's highly fragmented media market. Meeting the expectations of customers who have been able to try the provision of seamless services in an environment full of new brands offering to take their taste buds to new and exciting adventures is even more difficult due to the additional demands of various dietary restrictions and ethically minded consumer behavior.
Anticipate that demand will continue to increase as more consumers choose plant-based products. Rich's alpha generation research reveals that 52% of parents want to feed their children more plant-based foods in the future, and their children have asked them to do so 34%. Up to 85% of Americans expect companies to address social and environmental issues. Nearly 72% of Americans say they consider it more important than ever that the company they buy from reflects their values, and 88% of consumers say they are more loyal to companies that support a social or environmental problem.
It's good that Accenture is available to guide us through four major trends that are currently revolutionizing the restaurant industry. Winsight is a leading B2B information services company focused on the food and beverage industry, providing information and market intelligence to business leaders on all channels where consumers purchase food and beverages (convenience stores, grocery retailers, restaurants and non-commercial food services) through media, events, data products, advisory services and trade shows.