Recorded on March 3, 2022
Datassential’s Jack Li and Huy Do discuss what consumers think about peer-to-peer food vendors and social media food businesses, the difference between a fad and a trend, what's on the horizon in the world of food, and the latest with COVID-19.
- Peer-to-peer vendor examples: Shmeal, Shef, Dough Daddy, Alteconomy, Funeral Potatoes
- 42% of consumers were motivated to purchase from peer-to-peer vendors because they saw great reviews & comments from social media and wanted to buy it
- Reputation for superior food quality and reviews from other customers were the top two trustworthy qualities in peer-to-peer vendors
- 53% of consumers disagree with "I like being able to purchase food and beverages while scrolling through social media"
- One of the four factors in determining a fad vs a trend is whether it addresses a new consumer truth
- Korean BBQ has seen +42% 4-year menu growth
- Elote has seen +94% 4-year menu growth
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