Airport Food & Beverage Market Intelligence Report – Unlocking data and insights on airport F&B spend - The Moodie Davitt Report

INTERNATIONAL. The first Airport Food & Beverage Market Intelligence Report released jointly by partners The Moodie Davitt Report and tRetail Labs – with the Asia region version now available – takes a major step towards improving industry spend intelligence for the airport F&B sector. It leans on advanced AI-driven modelling to raise understanding of the business and its potential.

By harnessing the latest advancements in machine learning and data analytics, the collaboration promises actionable insights that can empower airport F&B players to make better decisions to drive performance.

Two webinars on 8 May will preview insights from both the Asia and North America regional reports, examine the various methodologies used during the project and hear from experts behind the analysis. Click here for more or to sign up.

Crucially, the research provides airports and F&B operators with insights into traveller spending patterns, preferences and behaviour. It draws upon a diverse range of data sources, including actual passenger data, routes and seat data by gate and terminal, menu analysis and insights from a comprehensive spend feedback of over 40,000+ respondents (Asia) throughout 2023.

By integrating over 40+ modifiers such as terminal locations, airport types, menu analysis, times of operation, airline classifications, seasonality, comparative category offerings and customer affinity scorings, the AI modelling framework enables operators to gain a comprehensive understanding of the factors influencing revenue generation in airport F&B.

“Our collaboration with tRetail Labs represents our commitment to driving innovation and excellence in airport F&B retail,” said The Moodie Davitt Report President Dermot Davitt. “This partnership signifies a step forward in enhancing operational efficiency and strategic decision-making.”

tRetail Labs CEO and Founder Sushanta Das said: “tRetail Labs’ mission is to accelerate the travel F&B’s transition to an AI mindset. By making AI modelling and advanced analytics accessible to everyone via our analytics platform nrture, we are revolutionising the way airport F&B players approach spend intelligence, revenue estimation and decision-making.

“Access to this comprehensive data will enable airports and travel F&B operators conduct in-depth analyses, simulate revenue estimates and even prepare robust airport F&B bids, all while gaining a deeper understanding of consumer preferences and competitor strategies. It’s an all-encompassing platform for the industry.”

“This initiative marks a significant advancement in spend analytics and revenue estimation modelling for airport F&B,” remarked Sossina Shenkute, Chief Customer Officer and Co-Founder at tRetail Labs. “By harnessing the power of advanced data science and a comprehensive data source, airports and operators can make informed decisions and drive revenue growth with confidence. We augment domain expertise with AI computing power.”

“I am thrilled to see the culmination of our collaborative efforts with tRetail Labs in this pioneering initiative. This partnership underscores our shared commitment to pushing the boundaries of innovation in airport F&B, and I am confident that the insights generated will pave the way for transformative change and enhanced value creation across the industry,” commented The Moodie Davitt Report Research Director Jess Allerton.

In addition to the wealth of data sources, strategic partnerships with industry leaders further enhance the initiative’s capabilities. These include Dubai-based Malt & Salt Hospitality Founder and CEO Akhilesh Bahl and Professor Satheesh Seenivasan from Monash University, a renowned expert in econometrics and AI modelling.

“The collaboration with tRetail Labs represents a fusion of industry expertise and cutting-edge technology,” said Akhilesh Bahl. “Together, we are reshaping the future of airport F&B by delivering insights and strategic guidance.”

“The partnership with tRetail Labs represents an exciting opportunity to apply advanced analytics and AI modelling to airport F&B retail,” remarked Professor Seenivasan. “By leveraging data-driven insights along with academic and industry expertise, airports and F&B operators can make informed decisions and drive revenue growth with confidence.”

For more information on the spend intelligence and its implications for airport F&B revenue estimations as well as airport F&B bids, please contact Jess Allerton at Jess@MoodieDavittReport.com and Sushanta Das at sushanta.das@tretaillabs.com

Note: The Moodie Davitt Report publishes the FAB Newsletter, which features highlights of openings, events and campaigns from around the world of airport and travel dining.

Please email Kristyn@MoodieDavittReport.com to subscribe.

Adblock test (Why?)