Technomic and Restaurant Sciences Partner to Raise the Bar on Foodservice Industry Intelligence Joint analysis of food and beverage purchase metrics will yield break-through tools
CHICAGO and NEWTON, Mass., June 5, 2013 /PRNewswire/ -- To provide greater visibility into sales trends in restaurants and bars, Technomic Inc. and Restaurant Sciences, LLC have partnered to deliver the industry's only credible and comprehensive suite of food and beverage tracking services.
"Combining the analytical and consultative expertise of Technomic with the transaction detail developed by Restaurant Sciences will provide powerful tools to both operators and suppliers," says Darren Tristano, executive vice president at Technomic. "Our programs will deliver very current and granular point of sale (POS) information coupled with deep insights into consumer purchases and behaviors in restaurants and bars. This level of intelligence will provide real momentum and a sharp competitive edge to food and beverage companies' strategic initiatives."
"This is such a great new partnership for our industry, providing immediate first-ever benefits," adds Chuck Ellis, CEO of Restaurant Sciences. "We're excited to offer an integrated picture of patron, place and product — a dynamic view of the industry that can range at once from national trends to individual purchases. Together, we offer nearly 50 years of deep analytic and consultative experience, combined with the most cutting-edge Big Data product and transaction standardization, and business intelligence tools. This partnership benefits from hundreds of man-years in combined experience at every level, in every aspect of on-premise food and beverage."
Syndicated and custom programs will involve analysis of key metrics around guest occasions, presented in accessible formats and including actionable insights. Strategic services will include promotional modeling and tracking, as well as price elasticity and competitive positioning analysis and much more. Among the initial programs developed through the partnership are sales tracking tools and resources specific to adult beverage sales in restaurants and bars.
"Adult beverage is a significant growth opportunity for restaurants," says Tristano. "Technomic's robust DRINK database of adult beverage metrics and its rich insights into on-premise trends, together with Restaurant Sciences' analytics, will shine a bright spotlight into what's really happening on-premise. Both suppliers and operators will, for the first time, be able to make fact-based decisions about on-premise products and programs."
For more than 45 years, Technomic has tracked the foodservice industry, and is a leading research and consulting firm serving the food, beverage and foodservice industries. Resources such as its annual report on the Top 500 restaurant chains and MenuMonitor tracking of more than 3,400 restaurant menus reveal key marketplace trends and brand performance information, while its adult beverage database provides crucial on-premise and off-premise metrics. The National Restaurant Association has partnered with Technomic to bring on-premise spirits, wine and beer information to its members and also to develop events designed to enhance operators' industry intelligence, such as the recent Fast Casual Trends & Directions Conference.
Restaurant Sciences is the premier provider of transaction-level data on food and beverage consumption in restaurants, bars and other foodservice outlets. Founded in 2010, Restaurant Sciences analyzes more than $1 billion per month in restaurant and bar sales to fuel a range of analytical tools such as brand performance and Internet marketing efficacy tracking.
Donna Hood Crecca, Senior Director, Technomic Inc., 631-265-3839, or firstname.lastname@example.org
Marianne Sabella Dempsey, CPRM for Restaurant Sciences, 508-435-2020 or email@example.com
Technomic provides clients with the facts, insights and consulting support they need to enhance their business strategies, decisions and results. Its services include numerous publications and digital products, as well as proprietary studies and ongoing research on all aspects of the food industry.
About Restaurant Sciences
Restaurant Sciences is the premier provider of syndicated data and insights on food and beverage consumption in restaurants, bars, nightclubs and other foodservice establishments. The company delivers market share, market basket, competitive analysis, pricing, promotional, trend, segmentation and custom analytics to food and beverage manufacturers and distributors, as well as the broader industry they serve, and restaurant companies. Restaurant Sciences transforms over $1 Billion per month in guest check-level sales information into detailed data and insights across all segments of the foodservice landscape in the United States and Canada. Insights are delivered online through their business intelligence tool or through custom analytics. Visit www.restaurantsciences.com.