One of our favourite lunch spots at THINK is a small restaurant next door. It’s a “hole in the wall” kind of place, loved by many locals. Few months ago, they decided to close down for renovations. When they re-opened, their previous menu was completely gone, replaced by a different cuisine category all together.
Overnight, the place that was always packed became empty. Locals like us, who have formed a habit of going there nearly every day, were forced to form new habits of grabbing lunch elsewhere. All this was a result of the restaurant deciding to cater to a “cultural trend” of providing healthier meals, without paying attention to the behaviour of their target consumers.
The place has since then brought back their old menu, but the damage was done. Locals (including us) have found alternative lunch spots, and do not go back to that small restaurant nearly as often as we used to.
So what’s the lesson learned from this example? While companies constantly try to innovate, it’s important to first examine your target market to ensure your innovation would not disrupt the pre-formed habits that are currently facilitating your business.
Written by:
Lana Bruskina – Strategy and Insight Manager
For further information on THINK Global Research, please contact Kristy Ihle (Managing Director) at info@thinkglobalresearch.com.
