The new online hub gives users on-demand access to accurate pricing data, with an array of features to interpret trends and improve decision-making. It is the latest evolution of the monthly Foodservice Price Index, which fuses CGA’s extensive data collection from suppliers with Prestige Purchasing’s expert analysis. The service provides the UK’s largest set of foodservice transaction data, flags movements in various key food and beverage categories and forecasts future developments.
The launch of the new Portal comes during a prolonged period of high inflation, and meets an urgent need for agile and up-to-the-minute analysis. It will support purchasing teams’ negotiations on pricing, help finance leaders to measure price movements against market trends, and assist board directors and shareholders in their strategic planning.
Features of the Foodservice Price Index Digital Portal include:
- Instant access to data as soon as it becomes available
- Manipulatable graphs to present figures over required time periods
- Data downloads for off-line analysis
- Alerts about the latest market developments and insights
- Easy access and 10 log-ins as standard for all subscribers.
Prestige Purchasing CEO Shaun Allen said: “Inflation in the foodservice sector has hit double digits for four months in a row now, with further rises expected throughout the year. Our new Digital Portal will allow subscribers to the Index to manage their menus and supplier spend more effectively, as the data and insight will be available to them far quicker than the traditional report. We are extremely pleased to be able to offer this new and dynamic platform to new and current subscribers at no additional cost.”
Karl Chessell, director – Hospitality Operators and Food, EMEA at CGA, said: “Inflationary pressures across foodservice, hospitality and catering are heavier than they have been for years, so businesses need quick and easy access to the latest developments and trends. The Foodservice Price Index Digital Portal is designed to help leaders act nimbly to manage their costs and plan for the months ahead. It’s a great example of how collaboration on data and insight can support the industry during challenging times.”
The exclusive Foodservice Price Index is jointly produced by Prestige Purchasing and CGA by NielsenIQ, using foodservice data drawn from 7.8m transactions per month. It contains myriad insights and information pertinent to the foodservice sector and is essential reading for anyone seeking to keep ahead of price trends and understand why they occur, with more information on specific categories available on a subscription basis. For further details, please get in touch with Ted Mulcauley at ted.mulcauley@cgastrategy.com
