Trends in Dessert Franchises
Today 70 percent of Americans eat dessert at least once a week. Three years ago only 57 percent of Americans ate dessert on a weekly basis. This jump shows that the market for desserts is ever increasing, providing an immense opportunity for new trends in Dessert Franchises to move into the dessert industry and for existing franchises to expand their business. However, more opportunities lead to more competition. How can you stay ahead of your competitors and become a leader in the dessert industry?
One way to stay ahead of your competitors is to keep up with major industry trends. With more than 30 years of experience, we have become experts in the dessert industry and have learned how to tell the difference between fads and major trends that will affect our industry. Paying attention to major industry trends allows you to adapt over time and maximize the appeal to your market.
For example, Blockbuster used to be a thriving and profitable business in 1999 with a $19.00 share price, but was unable to adapt to changes in technology as time went on. Instead of paying attention to the major trends in their industry, Blockbuster Video focused on perfecting their existing services as a low-price movie rental store. In contrast, Netflix saw the trend of convenience that technology provided and capitalized on this trend. Today, Blockbuster Video is bankrupt while Netflix has reached a share price in the $70.00 range.
While we are not in the video industry, we can all learn from the example of Blockbuster Video and keep in touch with the trends in our own industry. Below are a couple of the latest major trends we have seen in the dessert industry and how we have adapted to accommodate them.
The rise of technology not only affects the video industry; it also affects the dessert industry. Technology has infiltrated every industry because it has become an integral part our everyday lives. We use technology to check email, pay bills, and keep in touch with friends. In today’s world of smart phones and tablets, we are not limited to a computer station, but utilize technology wherever we are. According to Mary Meeker, mobile internet traffic has grown from .9 percent of all internet traffic in 2009 to 15 percent in 2013 and is still climbing. By recognizing how integral technology has become, we can address this trend and remain relevant in today’s changing world.
Technology has become an integral part of life because it makes our customers’ lives easier and more convenient. Like Netflix, we should capitalize on the convenience technology brings and use this to our advantage, encouraging our dessert franchise to grow and thrive. To do this, we thought about how we could make our services more convenient by utilizing technology.
For example, we added online ordering to our website so our consumers can pre-order our new ice cream cakes from the comfort of their home. In addition to increasing the convenience for our customers, pre-ordering online is more convenient to our franchisees because it gives employees more time to focus on exceptional customer service.
Another way we have capitalized on the benefits of technology is by using it to reach more customers and create customer loyalty through social media. By taking advantage of social channels, we are able to provide special offers to engaging customers at a much lower cost than print advertising would be.
Along with social media, since technology has infiltrated most of our customers’ lives, we decided to use that to our advantage by launching an app for our franchise.
This app provides discounts to our most loyal customers. Providing discounts encourages our customers to come into our stores more frequently and to make larger purchases than normal. By increasing how frequently customers come into our stores and how much they buy, we help our franchisees make a greater profit.
Peanut Butter Galaxy
The rise of technology has also brought about the rise of environmental awareness. Americans are no longer ignorant about our effect on the environment. According to a Gallup survey, 50 percent of Americans prioritized environmental protection over economic growth in 2014 as compared to the 36 percent in 2009. This jump illustrates how Americans have placed more and more emphasis on environmental protection recently. How can dessert franchises appeal and capitalize on this trend?
To address this trend of environmental awareness, many franchises have decided to use local ingredients in their desserts. For example we always use dairy from local farms as the primary ingredient in our ice cream. By choosing to use local dairy in our ice cream, we show how the environment is a high priority for our franchise, appealing to our customers who are also environmentally conscientious.
In addition to being environmentally friendly, using locally produced ingredients helps the local economy. For example, by using dairy produced locally, we increase sales for local dairy farmers who in turn can buy more, encouraging the local economy to grow and thrive.
By paying attention to these trends, dessert franchises can seamlessly adapt to the changing world and remain relevant. Utilize technology to increase the convenience of your customers. Appeal to your market and cut your business costs by becoming more environmentally friendly. Keep up with these trends in the dessert industry so you don’t become outdated like Blockbuster Video.
Dustin Thompson is the Franchise Sales Lead and Marketing Manager for Global Franchise Group. He has been in the franchise industry for more than eight years and specializes in digital marketing and franchise lead generation. During this time, Dustin has experienced success by informing potential partners about the best franchise opportunities in the food and beverage industry. Other accomplishments have been driving franchise growth through cutting edge digital lead generation methods that cater to today’s consumer.