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Manhattan Restaurant Insurance: Trends for Competitive Food Producers

Manhattan Restaurant Insurance: Trends for Competitive Food Producers

Manhattan restaurants are constantly faced with operational challenges, but the one of the hardest hurdles restaurants face is attracting and retaining customers. In the fast paced, highly competitive food industry keeping up with the latest trends can be a challenge. Understanding industry trends and anticipating market desires can be the difference between a packed house and closing up shop. At A.J. Benet we are dedicated to helping our clients succeed. We have researched a list of the top industry trends according to recently released US Food Service Reports by market research group Mintel. According to the report the top industry trends include:

  • Fast, casual and custom dining. Consumers are increasingly searching for speedy service in casual environments that offer healthier alternatives to traditional fast-food dining.  There is a growing emphasis on consumer control and choice in their dining experience, which has resulted in increased demand for customizable options from eateries.
  • Healthy and Ethical ingredients. Many statistics indicate that consumers are willing to pay slightly more for food they believe to be better quality. Incorporating higher quality, nutritious and ethical ingredients is becoming essential for businesses looking to hold their own. Incorporating offerings that are conscientious of special dietary restrictions, such as veganism or gluten-free needs, can be a good way to diversify your clientele base. However, these options are quickly becoming an industry standard rather than an additional perk and may soon become necessary to remain competitive. Ethical practices and values are also highly weighed by consumers when choosing dining establishments. Most consumers will seek out eateries with similar ethos as themselves.
  • Addressing an audience. Understanding your target demographic and adapting to their changing needs can give your business an edge within a specific clientele niche. Contrarily, broadening your current customer base to incorporate untapped customer pools can also prove beneficial in generating new business and revenue. Targeting specific lulls in your current customer base will allow your business to expand.
  • Incorporating technology. More and more restaurants are utilizing tablets and other digital channels to streamline order taking, waitlists and checkout processes to address the demand for increased speed and efficiency of service. Eateries are also placing more emphasis on their social media outreach efforts and mobile applications in order to facilitate easy access to menus, company values and promotions.

Staying competitive requires that your operation adapts to changes in consumer expectations, mentalities and concerns, but keeping up with the latest trends can lead to increased risk exposures to your restaurant. At A.J. Benet, we are proud to providing full risk management services and comprehensive Manhattan Restaurant Insurance plans to help our clients navigate all the challenges their operation faces. We offer a host of necessary Manhattan Business Insurance policies as well as industry specific coverage inclusions. Our Manhattan Food Manufacturing & Distribution Insurance plans include complete liability, equipment breakdown, food spoilage and many more extensions, designed to offer your Manhattan eateries full protection. Give us a call today at (888) 639-4560 for more information about any of our policies; we look forward to hearing from you.

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