Is business catering the winning recipe to maximize revenue in 2024? According to the latest ezCater data, all signs point to yes.
This year, 53% of corporate food buyers plan to increase their spending on catered meals, and those food dollars will be powering far more than just holiday office parties.
Our 2024 Feeding the Workplace report shows that companies are exploring food trucks, grab-n-go boxes, and recurring employee meal plans as new use cases for meal-centric perks. Additionally, individual eaters have become more involved in choosing what they eat, creating new opportunities to transform one-time diners into loyal patrons.
Restaurants can win big here. As food budgets increase — and the food for work landscape expands nationwide — there are more opportunities than ever before for restaurants to cater to new audiences and capture additional revenue beyond traditional catering orders.
Insight #1: Increased order frequency and new use cases are driving opportunity
ezCater data reveals that organizations are ordering meals more frequently and making food an integral part of the office day-to-day. This is great news for restaurants: More orders means more opportunities to boost sales.
But why are catered meals in such high demand? Because food is a valued work perk for employees. While once reserved for holiday parties and celebratory events, complimentary meals are now taking center stage for team bonding, training sessions, and even customer and client meetings.
Today, food-related work perks are a go-to for enhancing employee engagement and team building among separate departments. So, it’s no surprise that our 2024 Feeding the Workplace report found a 32% year-over-year increase in daily and weekly meal programs.
What might be surprising, however, are the new use cases we’ve uncovered for meal-centric perks.
Business catering is getting a new look
Corporate catering is on the rise, with 82% of business orderers planning to spend the same or more on food for work in 2024. And modern workplaces are getting creative with orderers thinking outside the box.
Beyond typical buffet-style trays, ezCater research identified several food for work opportunities that are gaining interest among business orderers:
The expanding food for work landscape challenges the idea that corporate meals must take the shape of family-style orders. Between employee meal programs, like Relish by ezCater, and special pop-up events that spotlight restaurants, business catering is getting a whole new look.
More and more companies are relying on restaurants to fulfill these evolving corporate food needs. And when operators decide to think outside the box and make strategic operational shifts, they win too. Being ready to meet these new use cases as they emerge opens up lucrative opportunities.
Insight #2: Eaters are doing more than just eating
Our 2024 Feeding the Workplace report shows that employees are doing more than just eating — they’re being vocal about what food they eat and where it comes from. For instance, 64% of surveyed eaters prefer individually packaged meals, while a third want meals that address their unique dietary needs and preferences. They also have a strong desire to order for themselves, with 71% of eaters preferring to select their own meals at work.
Workplace orderers are eager to hear eater feedback and often consider it when selecting a restaurant or menu. After all, finding options everyone will like is considered a major challenge for 34% of orderers surveyed.
Menu characteristics that orderers find most helpful
The 2024 Feeding the Workplace report uncovered which menu features orderers find most useful:
Insight #3: Stakeholders crave visibility and sustainability
To unlock new opportunities, restaurants need to build offerings that meet the needs of key stakeholders. Menu improvements are a great first step — but there’s more ground to cover. Orderers are also looking for convenience and reliability, as well as order visibility.
Delivery tracking
Corporate catering customers don’t want to be kept in the dark. They want to know the status of their deliveries, from when an order is placed to when it arrives at their door. That’s why 97% of surveyed food-for-work buyers would like to get delivery tracking updates with every order.
This feature is a positive for restaurant staff, too. According to ezCater data, more than 10% of inbound phone calls are from corporate customers trying to confirm their order status. Restaurants that deliver meals with tracking can spend less time on the phone reassuring customers during lunch rushes.
Despite all the positives, only 25% of operators surveyed say they are working to implement delivery tracking. Operators who aren’t prioritizing delivery tracking might want to rethink their stance, as survey results show that 90% of food buyers are more likely to place an order from a restaurant that offers delivery tracking.
Sustainability
Sustainability is another big priority, with nearly 20% of operators making improvements for more environmentally friendly packaging. According to survey data, some larger companies limit their catering search to restaurants that align with the environmental goals of their organizations — as well as their own preferences.
Making efforts to reduce food waste and source more sustainable packaging is well worth the effort, as it could unlock high-value business catering orders. The 2024 Feeding the Workplace report uncovered which orderers want from restaurants when it comes to sustainability:
- Sustainable packaging options
- More vegetarian (or less meat-focused) options
- Accurate portion sizes to avoid food waste
How to unlock the revenue potential of business catering
Corporate catering has long been a steady revenue stream for restaurants, and 2024 promises more. Restaurants that can deliver flexible and dependable meal options can unlock high-value catering orders for years to come. Download ezCater’s 2024 Feeding the Workplace report for actionable research and insights — and to discover how to power your profits in today’s business catering environment.
