STRATEGY
The power of data and insights
Revealing details of a new and exclusive partnership between tRetail Labs and The Moodie Davitt Report.
A groundbreaking F&B Research Report, currently being compiled, was the central theme of the session that began day two, led by The Moodie Davitt Report Research Director Jess Allerton and tRetail Labs Co-Founder and Chief Product Officer Sossina Shenkute.
The captivating presentation introduced a unique strategic partnership between the two companies, showing how it is possible to use technology and social listening tools to harvest specific data about traveller habits – and psychological choices – in travel food & beverage.
By partnering with The Moodie Davitt Report and tRetail Labs to request bespoke reports on specific demographics and regions, companies can better understand customer needs and even predict their future demands.
The Moodie Davitt Report Research Director Jess Allerton, who is helping to lead an exclusive global F&B airports insights project
“The airport food & beverage industry is no longer just about sustenance: it’s about creating memorable moments, enriching journeys and enhancing the traveller’s overall airport experience. In collaboration with The Moodie Davitt Report, tRetail Labs aims to provide the industry with actionable insights. Together, we’re paving the way for a more vibrant, innovative and customer-centric airport food & beverage industry and setting the stage for the airports of tomorrow” tRetail Labs Founder & CEO Sushanta Das
Listening to and pre-empting customer needs The Moodie Davitt Report’s Jess Allerton assessed how the technology works and how the partnership is planning to bridge this gap.
“The incredible thing about the tRetail Labs’ listening tool is not only can it track what consumers are talking about while in the airport food & beverage outlets, but also it can track feeling or ‘sentiment’ – that information is priceless,” explained Allerton. “The way a consumer feels about your brand is as important as how they perceive it for quality and value for money. We can examine 360 degrees of sentiment about how a brand is showing up for consumers. Is it offering good customer service? How does that customer feel on entering the offering and leaving it? Is it likely they will visit again? We can identify emerging trends and needs and help your brand to pre-empt that, either locally, regionally or globally.”
“The way a consumer feels about your brand is as important as how they perceive it for quality and value for money. We can examine 360 degrees of sentiment about how a brand is showing up for consumers.” The Moodie Davitt Report Travel Retail Research Director Jess Allerton
Meanwhile, tRetail Labs’ Shenkute explained how the technology could work in a real-world setting. “We are able to slice up data in many ways, to make it really specific and useful,” she said.
“For example, let’s say Diana Chan, our star guest at FAB, came to us with an idea to create a noodle bar franchise and she asked us to provide insight on airports in Asia that have a lower proportion of Asian cuisine, or fewer casual-dining concepts. We could make very useful suggestions on potential airports where her concept could excel.
“We can also collect financial data from menus globally so we can understand the cost to the consumer of a standard meal by outlet type, by airport. This can be important for pricing strategy and marketing.”
tRetail Labs Co-Founder and Chief Product Officer Sossina Shenkute takes to the stage
Qualitative and quantative study The research study noted above (available region by region from April 2024) looks into the world’s Top 50 airports by passengers in seven regions. It encompasses 350 airports in total and close to 224,000 data points, monitoring consumer habits and feelings. It also benefits from insights from F&B concessionaires and airport companies.
The mix of qualitative and quantitative research blends listening tools and data scraping, modern artificial intelligence techniques, data science and personal interviews. .
The aim is threefold: to visualise who operates where, to provide the unprompted consumer perspective, and to discuss current trends and developments in the industry. The study will encompass regional, global and airport-specific data.
Delegates at FAB 2023 were given a glimpse into how the study works. A sample slice of 30 Asian airports demonstrated how tRetail Labs and The Moodie Davitt Report is able to identify and separate different consumer tribes, traveller sentiments and motivations for spending. Crucially, the data also revealed areas ready and waiting for growth and missed opportunities in the market.
HOW TO ACCESS THE STUDY
The study will be released region by region, starting with APAC at the end of Q1 2024.
For further information or bespoke reports, contact Jess Allerton and Sossina Shenkute
FAB eZine
January 2024
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