Innovations is so much more than a trade show (although that part is pretty great, too). In addition to showing products available at Dot Foods from more than 370 exhibitors, Innovations 2023 gave attendees a free concert, exclusive evening events, and insights from industry leaders.
This year’s speakers included celebrity chef and TV personality Alton Brown and Innovations regular Jack Li, executive chairman at Datassentail. Li and Brown brought different perspectives to the Innovations stage—Li interpreted data to provide suggestions for menu development, whereas Brown shared his observations and experiences in a freewheeling conversation. But there was a surprising amount of overlap in the topics they covered. Let’s recap their takes on a couple of these topics.
Storytelling is Priceless
Value has always been about more than dollars and cents. Pricing along with menu development, service, marketing, and other factors come together to tell the story of a restaurant’s brand. It’s that story that generates value.
Brown and Li were both quick to point out that lowering prices shouldn’t be the go-to for generating value, because that’s only one part of the story. “The consumer will value you [your brand] beyond price,” explained Brown. People will assign value to a brand based on its narrative. The ultimate goal is for a brand to become an everyday part of our life.
Li focused on how menu cohesion contributes to a restaurant’s story. For the past few years, restaurants have whittled down their menus in response to supply chain challenges. Li is in support of this trend continuing. A menu with a little bit of everything doesn’t send a clear message. Striking a balance between variety and cohesion is the key to developing a menu that tells a story.
Experience is Everything
Of course, restaurants want to bring in traffic. But what is it that brings consumers into a restaurant—and what will keep them coming back even as inflation continues?
According to Datassential research, consumers don’t seek out restaurants for low prices; they want enjoyability and craveability. “If we put the brakes on innovation,” advised Li, “we lose the craveability that restaurants win at.” Innovating with new ingredients and global flavors can set restaurants apart from food at home. When restaurants lean in to their strengths, they are able to—as Li said—“make sure the experience is so great that diners don’t want to cut back.”
While Li focused more on the culinary side of the restaurant experience, Brown encouraged restaurants to look beyond their menus. With the rise of the celebrity chef, he claims foodservice has become all about the food and not about the service. “I’m hoping we’ll see a return to the restaurateur who thinks about the front of the house.”
Like telling a story, creating an experience requires multiple facets. Restaurants will need to factor everything in from the front to the back of the house to deliver an experience that brings consumers back for more.
Your Sourcing Solution
Whether looking at data or looking at personal experience, Jack Li and Alton Brown agree that innovation is the recipe for restaurant success. Thinking outside the box leads to better menus, better stories, and better experiences.
Hear from innovative thought leaders and sample innovative products at our next trade show. For the first time, Innovations will be held in Denver. The show returns April 22-24, 2024.
Innovations is taking over Denver. Get ready to join us next April.