Foodservice Intelligence Tracking (FIT) is the most comprehensive tracking of operation usage by brand available. FIT allows marketing executives a better understanding of the projected market size and the relative position of all the competition. Now that food and beverage establishments capture 49% of the American Food Dollar, it is more important than ever to have accurate market insights.
Market sizing in food service is difficult and expensive to acquire. The majority of methodologies today are panel-driven, which sacrifice accuracy for the economies of panel utilization. There are several downsides of using a panel including: biased behavior, not representative of the food service universe, no benefits of random selection, and no ability to accurately forecast volume measurements and market size.
This proven, copyrighted FIT method relies on several proprietary statistical models to identify outliers and normalize data to determine a projected annual market size. Historical comparison of operator procurement behavior is an additional important key step we perform in volumetric validation. In trending category behavior, market shifts naturally occur and are driven by the economy, taste trends, eating trends and environmental conditions.
Four major contributions to accurate representation are:
- Method of Selection
A proven sample technique in capturing projectable data is a stratified random selection, which reduces sampling error and ensures the greatest representation. - Sample Size
With a larger sample, the representation of market behavior, size and shares becomes more accurate. For these reasons, we have increased our sample size from 2,250 to 2,700 respondents to assist you in sound decision making. Clients may choose the traditional Foodservice Intelligence Tracking (FIT) or options such as the Perpetual – Foodservice Intelligence Tracking (P-FIT) or the Expanded – Foodservice Intelligence Tracking (E-FIT). Instead of a one- time study, the P-FIT utilizes a rolling sample to smooth the curve between waves. To access even more accurate information, many manufacturers are opting for the E-FIT which is almost double the sample size of the traditional FIT. This study will show you where you stand in virtually every aspect, including share, volume, incidence, penetration and volume distribution. To see details on sampling and accuracy, click here. - No Outsourcing
All phases of the research process are conducted and monitored internally within one central location where respondent information is immediately validated. The interval between field and validation and other steps in the research process is minimal and secure. Internal control is imperative to ensure the highest degree of accuracy. - Weighting
Our weighting method compensates for a disproportionate sample. Unique to Wyoming Research, we weight not only by segment but also within each of the four geographic areas.
Unique Reporting
Clients receive actionable reporting and market analysis including:
- Share of Requirements: mirrors immediate competitive threats by indicating a share computation and penetration of establishments in your market of users that are shared by specific operators.
- Volume Distribution: displays your competitor’s usage concentration across all measured criteria.
- Category Market Drivers: strongly reflect who and what is driving the market by classifying volume usage and loyalty and by what projected net annual volume and economic growth.
Our methodology will fulfill your needs for precise intelligence. By conducting the largest stratified random sample from the current food service universe, coupled with no outsourcing, you can be assured of the highest possible degree of data integrity.
