Today in food commerce, PYMNTS data reveal how consumers’ food ordering behaviors vary by region, while coffee company Westrock Coffee gears up to go public via a special purpose acquisition company (SPAC). Plus, a London-based FoodTech startup brings in millions of dollars in seed funding for its delivery kitchen solutions.
New Research Shows That Regional Dining Quirks Matter in Tailoring Restaurant Offers
“The Digital Divide: Regional Variations in U.S. Food Ordering Trends and Digital Adoption,” a PYMNTS and Paytronix collaboration, examined regional variations in consumers’ views and attitudes toward restaurant ordering options, loyalty programs and subscriptions. PYMNTS surveyed 2,533 consumers in the United States to learn how attitudes and preferences vary according to region.
The Pacific Region Leads the US in Online Food Ordering
According to data from the March edition of PYMNTS’ ConnectedEconomy™ Monthly Report, “Mapping Digital Behavior Across U.S. Regions,” consumers in the Pacific region of the U.S. (California, Oregon, Washington, Alaska and Hawaii) are significantly more likely to order groceries online than those in other regions.
Westrock Coffee Looks to Emulate Antecedents’ Public Offering Success With $1.1B SPAC Merger
After multiple coffee companies saw success hitting the public market in recent months, Westrock Coffee is joining the fray. The North Little Rock, Arkansas-based brand, which sells coffee, tea and other items to consumers, restaurants and consumer-packaged goods (CPG) brands, is going public through a $1.086 billion deal with SPAC Riverview Acquisition Corp.
London’s Growth Kitchen Debuts With $3.9M Investment
London-based Growth Kitchen, a FoodTech startup that builds satellite kitchen networks, announced it received $3.9 million in seed funding. Growth Kitchen said this investment will help it continue to “crack” the delivery kitchen model, where restaurants can grow like a Software-as-a-Service (SaaS) company while still owning their business.
Inflation Poses Challenges for Emerging Restaurant Brands’ Expansions
As major brands leverage their scale to price below inflation, smaller brands are put in a more difficult position, forced to get creative. Brands that are in a growth stage, accustomed to the lower prices of smaller markets, are forced to contend with geographic price variations as they plot their expansions into denser areas.
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