--- layout: default_v3 language: default permalink: consumer-reports/how-to-do-a-market-analysis.html i18n_link: 9519 updated: 2025-07-21 #--- article key-values ---# collection: default_topiccluster t_keyword: How To Do A Market Analysis tags: Market analysis type: supporting page_id: 9519 hreflang_id: 9519 parent_id: 9514 date_published: 2025-07-18 date_modified: 2025-07-21 #--- javascript schema ---# javascript_schema: - script: jquery_3_2_0_min - script: bootstrap_min - script: article_infinite_scroll - script: article_mix_infinitescroll - script: article_mix - script: article_mix_faq - script: article_mix_toc #--- section schema ---# section_schema: - section: nav-main_menu - section: article_body_v2 - section: footer - section: footer-sticky_cta_bar - section: schedule_demo_cta #--- page key-values ---# meta_tags: t_meta_title: How to Do a Market Analysis for Quick Service Restaurants t_meta_description: Learn how to do a market analysis for quick service restaurants by tracking customer purchases across demographic groups for better decisions. t_meta_abstract: Learn how to do a market analysis for quick service restaurants by tracking customer purchases across demographic groups for better decisions. i_meta_image: og_how-to-do-a-market-analysis-for-quick-service-restaurants.png article_body: json-ld_article: v_date_published: 2025-07-18 v_date_modified: 2025-07-21 author: p_author_id: 254 t_author: Derrick McMahon p_author_url: derrick-mcmahon.html i_author: 254.jpg t_author_description: Derrick McMahon is a writer and restaurant technology enthusiast. He holds a Bachelor's degree in Hospitality Management from UNLV, where he developed a passion for the food service industry. p_author_facebook: //www.facebook.com/altametrics/ p_author_twitter: https://twitter.com/https://twitter.com/altametrics?lang=en p_author_linkedin: p_author_instagram: podcast_section: v_links: podcast_links: - t_title: Iheart Radio v_url: i_icon: iheart_radio_icon.png - t_title: Amazon Music v_url: i_icon: amazon_music_icon.png - t_title: Youtube Music v_url: i_icon: youtube_music_icon.png - t_title: Spotify v_url: i_icon: spotify_icon.png feature_snippet: p_type: text t_title: How can quick service restaurants collect customer purchase data? t_description: Use tools like POS systems, loyalty programs, digital ordering, and surveys while ensuring transparency about data use and respecting customer privacy to maintain trust. content: heading: t_title: How to Do a Market Analysis for Quick Service Restaurants t_description: Learn how to do a market analysis for quick service restaurants by tracking customer purchases across demographic groups for better decisions. image: i_image: how-to-do-a-market-analysis-1753133125-8417.png t_image_description: v_image_attribution: v_image_license: v_video: paragraphs: - t_headline: Understanding Customer Purchasing Habits t_text: Running a quick service restaurant means you need to know what your customers want to eat and why they choose your place. Tastes and habits change fast, and if you don't keep up, you might lose customers to other spots nearby. Did you know that about 60% of consumers say they try new restaurants based on what's popular with people like them? That shows how important it is to understand your customers' habits.

Market analysis helps you do just that. It's a way to look closely at what your customers are buying, especially when you group them by things like age, gender, or where they live. This kind of information gives you a better idea of who your customers are and what they really want.

p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: - t_headline: What Do You Want to Learn from Your Market Analysis? t_text: Before diving into data collection or analysis, it's important to take a step back and think clearly about what you want to achieve. Market analysis can feel overwhelming if you don't have a focused goal. Defining your objectives early will guide your efforts and make sure you're gathering the right information to help your quick service restaurant succeed.

1. Ask Yourself Key Questions - Start by asking what you want to know about your customers. Are you trying to find out which menu items are most popular among different age groups? Do you want to understand how purchasing habits change by location or time of day? Or maybe you need to decide whether to introduce a new product or adjust your marketing messages?

2. Narrow Your Focus - Having clear answers to these questions helps you focus on the right data. For example, if your goal is to track which items sell best to young adults aged 18-24, you'll know to collect data specifically about that group and their purchases. This saves time and makes your analysis more useful.

3. Consider Your Decisions - Think about what decisions you want to make based on the analysis. Are you planning to change your menu, create targeted promotions, or adjust staffing? Knowing this upfront ensures your market analysis provides insights that support real business actions.

4. Keep Goals Simple - Your objectives don't have to be complicated. Even simple goals like understand peak buying times by customer age or compare snack purchases between men and women can offer valuable insights.

By setting clear, practical objectives, you make your market analysis focused and manageable. This approach helps you use your time and resources wisely while uncovering the most relevant information to improve your quick service restaurant.

p_headline_type: h2 image: i_image: what-do-you-want-to-learn-from-your-market-analysis-1753138110-8837.png t_description: market analysis v_attribution: market analysis v_license: LERm49849 callout_text: call_to_action: p_type: purchase t_title: Dive Deeper into Customer Insights! t_text: Capture Key Insights with Altametrics t_button_text: Book a Demo p_button_url: https://altametrics.com/schedule-demo.html p_button_color: FF0000 v_form_id: v_product: altametrics background: type: color i_image: p_video: p_color: 0000FF - t_headline: Identify Relevant Demographic Segments t_text: Once you've set clear objectives, the next step is to figure out which customer groups you want to study. These groups are called demographic segments - categories like age, gender, income, or location that help you understand different types of customers and how their preferences may vary. Choosing the right demographic segments is key to making your market analysis meaningful.

Why Demographics Matter
Different groups often have different tastes, habits, and buying power. For example, younger customers might prefer trendy menu items or value meals, while older customers may prioritize classic options or health-conscious choices. Knowing these differences allows you to tailor your offerings and marketing to better meet their needs.

Common Demographic Categories to Consider

1. Age - This is often the most useful starting point. Age groups can influence what kinds of food and deals customers prefer.
2. Gender - Men and women may show different preferences or spending habits.
3. Location - Customers in different neighborhoods or cities can have varying tastes based on culture or convenience.
4. Income Level - Income can affect how much customers are willing to spend and what menu items they choose.
5. Lifestyle or Occasion - Families, students, or office workers might visit your restaurant for different reasons and at different times.

How to Choose Your Segments
Start by thinking about who your restaurant serves most often and who you want to attract. Look at your current sales data or customer feedback to spot any obvious groups. Focus on segments that align with your objectives - for example, if you want to increase lunch sales near an office district, target working professionals in that area.

Remember, you don't have to study every possible group all at once. Prioritize the segments that will have the biggest impact on your decisions. You can always expand your analysis later as you gather more data and insights.

p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: - t_headline: Collect Customer Purchase Data Efficiently t_text: After you've identified which demographic segments to focus on, the next important step is gathering accurate purchase data from your customers. This data is the foundation of your market analysis, helping you see what your customers actually buy, when, and how often. Collecting it efficiently and respecting customer privacy are both critical.

Practical Ways to Collect Data

1. Point of Sale (POS) Systems - Most quick service restaurants use POS systems that record every transaction. These systems often capture basic information about what was purchased and when. Make sure your POS can track customer details or link with loyalty programs to connect purchases with demographics.

2. Loyalty Programs - Encouraging customers to sign up for loyalty or rewards programs is a great way to gather demographic info like age, email, or location while tracking their purchases over time. These programs benefit both you and your customers by offering rewards and building trust.

3. Surveys and Feedback - Short surveys, either online or at the restaurant, can collect demographic data directly from customers. You can offer small incentives, like discounts or free items, to increase participation without disrupting the dining experience.

4. Digital Ordering Platforms - If your restaurant uses mobile apps or online ordering, these platforms often gather demographic data and purchase history automatically, making it easier to track and analyze.

Collecting personal data comes with responsibility. Always be transparent about why you're collecting information and how it will be used. Make sure to follow local laws about data privacy and storage, and never share customer information without permission. Clear communication helps build trust and encourages customers to participate.

Balancing Data Collection and Customer Experience
It's important that data gathering doesn't interrupt or annoy your customers. Make sign-ups and surveys quick and easy. Train your staff to explain the benefits to customers, so they feel comfortable sharing information.

By collecting purchase data thoughtfully and ethically, you'll build a reliable foundation for your market analysis that respects your customers and gives you the insights you need to make smart decisions.

p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: - t_headline: Organize and Clean Your Data t_text: Once you've collected your customer purchase data, the next crucial step is organizing and cleaning it before you begin analysis. Raw data often comes with errors, duplicates, or missing pieces that can lead to inaccurate conclusions if not handled properly. Taking the time to prepare your data ensures your market analysis is reliable and useful.

Imagine trying to understand what customers like when your data includes duplicate orders or missing demographic details. These problems can distort the picture you're trying to create and lead to wrong decisions. Clean data helps you trust your insights and confidently act on them.

Steps to Organize and Clean Your Data

1. Remove Duplicates - Look for repeated transactions or customer entries that might have been recorded twice. Keeping duplicates can overstate sales or customer counts.

2. Fix Errors - Check for typos or inconsistencies, such as misspelled menu items or incorrect demographic entries (e.g., someone marked as age 5 when they are clearly older). Correcting these helps keep your analysis accurate.

3. Standardize Formats - Make sure all data uses the same format. For example, dates should be consistent (all MM/DD/YYYY or DD/MM/YYYY), and demographic categories should use uniform labels (e.g., "Male" and Female instead of mixed terms).

4. Fill in Missing Data - Where possible, try to complete missing fields, especially in important demographic categories. If you can't fill in everything, decide how you will handle missing data during analysis (for example, excluding incomplete records or using averages).

Consider user-friendly data management or analysis tools designed for restaurants or small businesses. Create a clear structure with separate columns for each data point (e.g., customer ID, age group, purchase date, menu item). Label everything clearly to make analysis smoother.

By organizing and cleaning your data carefully, you set a strong foundation for meaningful market analysis. This step helps you avoid mistakes and ensures the insights you gain truly reflect your customers' purchasing habits.

p_headline_type: h2 image: i_image: organize-and-clean-your-data-1753138110-8032.png t_description: //pixabay.com/photos/french-fries-fast-food-mcdonalds-1851143/ v_attribution: //pixabay.com/photos/french-fries-fast-food-mcdonalds-1851143/ v_license: Creative Commons Zero callout_text: call_to_action: p_type: purchase t_title: Empower Your Marketing Strategies! t_text: Step Up Your Marketing with Altametrics t_button_text: Request a Demo p_button_url: https://altametrics.com/schedule-demo.html p_button_color: 0000FF v_form_id: v_product: altametrics background: type: color i_image: p_video: p_color: e75480 - t_headline: Analyze Purchase Patterns t_text: Now that your data is clean and organized, it's time to dive into the analysis. This is where you begin to see meaningful trends in what your customers are buying - and who is buying it. Analyzing purchase patterns by demographic group can help you answer important questions about preferences, habits, and opportunities.

Start with the Basics
Begin by breaking your data into the demographic segments you identified earlier - such as age groups, gender, income levels, or locations. Look at key metrics like -

- Most frequently purchased items
- Average spend per visit
- Popular times of day for each group
- Order sizes (single item vs. combo)
- Repeat visits or loyalty participation

For example, you may discover that younger customers tend to order late at night and prefer snack items, while older customers visit during lunch hours and favor full meals.

Look for Patterns and Outliers
Identify consistent trends within each group. Do women tend to order more plant-based items? Are teens more likely to order value meals? These patterns can inform your menu planning and promotions. Also, keep an eye out for outliers - unexpected behaviors that might point to a new trend or missed opportunity.

It's tempting to make guesses based on what you think you know about your customers, but data often reveals surprising truths. Let the numbers guide you. Real insights come from actual behaviors, not just opinions or hunches.

By analyzing purchasing patterns within demographic groups, you gain a clearer understanding of what different types of customers value most - and how your quick service restaurant can better meet their needs.

p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: - t_headline: Compare Your Findings with Market Statistics t_text: After analyzing your customers' purchasing habits by demographic group, it's time to put those insights into context by comparing them to broader market data. This step helps you understand how your restaurant is performing relative to the industry and whether there are opportunities you're missing.

Why Compare with the Market?
Looking at your data alone gives you a picture of your own business. But comparing it to industry averages or local market trends helps you answer bigger questions -

- Are your customers spending more or less than the average QSR customer?
- Are your best-selling items aligned with what's trending in the market?
- Is your customer base different from others in your area?

Where to Find Market Data
You don't need a big budget to access useful stats. Look to -

- Industry reports from sources like Technomic, National Restaurant Association, or local restaurant associations
- Government data (e.g., census or consumer spending reports)
- Free online research, foodservice blogs, or trend reports from delivery apps and POS providers
- Third-party data services that offer benchmarking tools for QSRs

What to Compare
Match your internal data to similar categories in external reports. For example -

- Compare your age-group sales breakdown to national QSR spending by age
- Review industry data on trending food categories (plant-based, spicy, value deals) against your menu performance
- Look at customer visit frequency and loyalty rates against regional benchmarks

If your menu is underperforming in a category that's trending nationwide, you might need to update offerings. If you're excelling in a category that others are missing, that's a competitive edge you can double down on. If your demographic mix is skewed, you may want to adjust marketing to reach new audiences.

By comparing your findings with market statistics, you sharpen your understanding of where your QSR stands - and where it can go next.

p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: - t_headline: Use Insights to Make Data-Driven Decisions t_text: At this point, you've collected the data, cleaned it, analyzed it by demographic groups, and compared it to market benchmarks. The final - and most important - step is turning all of that insight into action.

Apply What You've Learned
If your analysis shows that a specific age group is drawn to certain menu items, consider highlighting those options more clearly in promotions or signage. If your lunch sales are low among working professionals, test a combo deal or faster ordering experience aimed at that crowd. Use the data to adjust -

- Menu items and pricing
- Promotions and marketing messages
- Staffing during peak times
- Loyalty program features tailored to different customer types

Market analysis isn't something you do once and forget. Customer behaviors change with seasons, economic shifts, and cultural trends. Set a regular schedule - monthly or quarterly - to review your data and update your strategy. The more consistent you are, the more you'll stay in tune with your customers' needs.

You don't have to overhaul your business overnight. Even one or two small, data-backed changes can lead to measurable improvements in sales and customer satisfaction.

Ready to Turn Data into Results?
Altametrics can help quick service restaurants like yours collect, organize, and analyze customer and operational data - all in one place. With user-friendly tools and real-time reporting, you can track purchasing habits, uncover trends by demographic, and make smarter decisions faster.

Start your data-driven journey today by clicking "Schedule a Demo" below.

p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: call_to_action: p_type: purchase t_title: Get Started with Smart Data Capture t_text: Optimize Your Marketing Efforts with Altametrics t_button_text: Schedule a Demo p_button_url: https://altametrics.com/schedule-demo.html p_button_color: FF0000 v_form_id: v_product: altametrics background: type: color i_image: p_video: p_color: 013220 event_body: json-ld_event: t_name: Employee Scheduling for Restaurant Managers t_description: Attendees will learn how create excellent schedules. The class teaches managers how to estimate the number of employees they need to staff their locations; how to accurately forecast their customer demand; how to quickly and accuaratly write and communicate schedules to employees; and how to evaluate the accuracy and optimization of their schedules to make adjustments. v_start_date: 2022-08-08 i_image: p_location_name: Altametrics Online Webinar Course p_address: webinar.altametrics.com?site=altametrics v_price: 10.00 t_offer_description: Priority Registration v_registration_url: webinar.altametrics.com?site=altametrics faq: t_faq_title: Frequently Asked Questions faq_ask: - t_question: Why should QSRs analyze customer purchasing habits by demographic groups? t_answer: Different demographic groups (like age, gender, or income level) often have different preferences. Understanding these patterns helps you tailor offerings to better meet their needs and attract more loyal customers.
- t_question: How often should I conduct market analysis? t_answer: Ideally, you should review your data regularly - monthly or quarterly - to stay up to date with changes in customer behavior and trends.
- t_question: How much historical data should I analyze for accurate results? t_answer: Start with at least 3-6 months of data to identify trends. A full year is even better if you want to spot seasonal patterns and customer behavior changes over time.
- t_question: What's the best way to segment customers by location? t_answer: Use zip code data from delivery apps, credit card billing info, or digital orders to group customers by neighborhood or region. This helps with targeting promotions or choosing new store locations.

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