This month, BlueCart released their very first Hospitality Report, a data-driven look at procurement trends in the hospitality industry. This blog is going to focus on taking a deeper dive into the seafood chapter of the BlueCart Report.
As noted by our data, seafood purchasing peaks during spring and during preparation for various holidays. During the second quarter of every fiscal year (April, May, June), restaurants are purchasing an average of $143 more per order placed than the previous quarter. Seafood products are inherently high in perishability. The time between the fish is caught and time it is sold is extremely short, so having a robust procurement platform in place helps operators facilitate the process much more efficiently.
Salmon products have been one of the top sold products on BlueCart’s “Top Deals”- a feature where suppliers can push any item they want for a special price. These deals are usually set for 2 or 3 days, so buyers have to act fast to capitalize on the promotion price. This give supplier s a greater degree of control over their inventory, and can push more product out the door depending on their catch volumes.
5The BlueCart Report also hinted at the possible spike in popularity for oysters. Notable experts in the seafood sector confirmed this trend:
“Seafood is entering the era of big data. This will help suppliers continue to tell the story of their products to consumers and will help the origin and quality of the product become the watchword. This has already happened in the oyster market, which is seeing a huge burst in demand due to the popularity of oyster bars with younger generations.” -John Sackton, Seafood News
A recent report by Seafood Source details how western oyster suppliers are capitalizing on the surge in oyster demand being driven by millennials. In order to profit from this trend, restaurants are reinforcing their menus to put their oyster selection front and center.
Oysters mature very quickly, and can be farmed in large quantities. Because of this, suppliers are working with both high supply and high demand. While business is booming, suppliers who have an advanced CRM system in place to streamline their orders are sure to have a competitive advantage in the market.
We’re planning to keep an eye on the latest seafood trends, including the profitability of fresh vs. farmed products and how well oysters permeate the market beyond coastal America. To learn more about trends, risks, and opportunities in the hospitality industry, download your own BlueCart Report for free today.
If you want to take a look at updating your CRM and procurement systems, check out BlueCart, an all-in-one business management tool for suppliers, distributors, and wholesalers in the hospitality industry. Feeling confident? A product demo is just a click away!