Market Research Report - 245888
UK Foodservice Survey 2012-2013: Impact, Opportunities, and Growth of Social Media and Consumer Review
|Published||Content info||95 Pages|
|UK Foodservice Survey 2012-2013: Impact, Opportunities, and Growth of Social Media and Consumer Review|
|Published: June 28, 2012||Content info: 95 Pages||
"UK Foodservice Survey 2012-2013: Impact, Opportunities, and Growth of Social Media and Consumer Review" is a new report by Canadean that analyzes how marketing through social media, marketing budget, impact of consumer review websites, food blogs, and food photography are set to change in 2012-2013. This report provides the reader with a definitive analysis of the role of social media networking, consumer review websites, and food blogs. Furthermore, this report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report also provides access to information categorised by sector, revenue, and senior level respondents.
Introduction and Landscape
Why was the report written?
This report is the result of an extensive survey drawn from Canadean's exclusive panel of 196 leading senior UK industry foodservice operators.Most secondary research reports are based on general industry drivers and do not understand the industry executives' attitude and changing behaviours, creating a gap in presenting the business outlook of the foodservice industry. In an effort to bridge this gap, Canadean created this primary-research based report by gathering the opinions of multiple stake holders in the value-chain of the UK foodservice industry.
What is the current market landscape and what is changing?
According to 52% of respondents, their organizations had advertised in social media networking websites within the last 0-14 days of taking this survey, thereby underlining the importance of this channel as an effective medium of communication with consumers
What are the key drivers behind recent market changes?
Respondents observe 'increased brand awareness' ,'cost efficient marketing', and 'real time feedback' as top three key benefits of marketing through social media
What makes this report unique and essential to read?
"UK Foodservice Survey 2012-2013: Impact, Opportunities, and Growth of Social Media and Consumer Review" is a new report by Canadean that analyzes the role of marketing through social media networking websites , consumer review websites , marketing budget, and how the impact of food blogs and food photography is set to change in 2012-2013. This report provides the reader with a definitive analysis of the role of social media networking, consumer review websites, and food blogs. Furthermore, this report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report also provides access to information categorised by sector and revenue.
Key Features and Benefits
Reflects the principal trends regarding the utility of social media that will shape the UK foodservice industry in the next 24 months.
Forecasts the possible changes in marketing budget trends of foodservice operators in social media networking and consumer review websites, and lists key marketing and promotional channels.
Examine the key benefits and leading challenges of social media in the UK food service industry with respect to company, turnover, and senior level respondents.
Identifies what are the key social media websites in the UK foodservice industry.
Observes the key consumer review websites and examines the authenticity of the contents provided by them.
Key Market Issues
Overall, 62% of respondents view 'increased brand awareness' as the key benefit of social media. Additionally, 59% and 46% of respective respondents also cite 'cost efficient marketing' and 'real time feedback' as the top benefits of marketing through social media. Moreover, 43% and 42% of respective respondents identify 'monitoring of consumer habits' and 'identification of new service opportunities' as other key benefits.
Overall analysis by turnover reveals that organizations with high revenue consider 'increased brand awareness' as the key benefit of marketing through social media websites. In contrast, 58% and 68% of respondents from organizations with turnover less than GBP999,999 and GBP1 million-GBP9.99 million respectively, identify 'cost efficient marketing' as the key benefit of social media and networking. Additionally, foodservice operators with revenue of GBP50 million or more, consider 'cost efficient marketing' as a chief benefit of social media marketing, as confirmed by 63% of respondents, along with 'monitoring of consumer habits'.
The survey results reveal that 55% of respondents feel that 'lack of or no control over what employees share' emerges as the biggest challenge among organizations who market through social media. Respondents also identify 'filtering inaccurate, biased, and extreme information' and 'measuring return on investment as other key barriers for social media marketing, as confirmed by 53% and 42% of respondents respectively.
In all, 52% of respondents consider consumer review websites 'additional sources of consumer opinions'. An additional 51% agree that a consumer review website 'helps in product/service improvement'. Furthermore, 49% of respondents also consider consumer review websites as 'enhanced knowledge of customer base'.
Analysis shows a clear difference in the pattern of visits to consumer review websites between profit and cost sector operators. While profit sector operators prefer visiting consumer review websites frequently, cost sector operators visit review websites only when required. In all, 7% of profit sector respondents prefer to visit consumer review websites 'every time', as compared with no respondents from the cost sector. Additionally, 33% of respondents from the profit sector go to review websites 'very frequently', as compared with only 10% of cost sector operators.
The survey results reveal that overall, 45% of respondents consider social media 'significantly useful', while 38% identify social media as 'slightly useful'. Significantly, the wide reach of social media and networking at minimal cost allows operators to reach audiences they might have overlooked through conventional marketing methods. Furthermore, if used intelligently, social media brings brand recognition and appeal, which makes it more useful than marketing through conventional methods.
Overall, 45% and 38% of respondents from profit and cost sector companies respectively, consider social media in UK foodservice 'significantly useful', whereas 42% of respondents from the cost sector and 38% from the profit sector consider social media networking only 'slightly useful'. Interestingly, the similarity in the opinion of both groups is striking, considering the basic differences in business models of profit and cost sector companies, wherein profit sector companies are expected to be more aggressive in using social media, given their focus on profit and costs.
The survey reveals that 'Facebook', 'Twitter', and 'LinkedIn, with 82%, 71%, and '55%' of responses respectively, are the top three social media websites. Facebook had over 900 million active users until April 2012, while the UK alone had 30 million active users till February 2012. Furthermore, 49% of the UK population uses Facebook, making it a lucrative channel for consumer interaction and communication.
Responses reveal that only 4% of UK foodservice operators refer to online review websites 'every time', whereas 23% of respondents visit consumer review websites 'very frequently'. Additionally, 40% of respondents agree that they only 'visit as required', while 19% 'rarely visit' consumer review websites, and 9% 'never visit at all'. Overall, 63% of respondents either visit online review websites vey frequently or only as required.
Overall analysis reveals that 'Tripadvisor.co.uk', 'Scores on the Doors', and 'UK Restaurant Guide' are the top three consumer review websites with 33%, 19%, and 13% of mentions from respondents respectively.