What is Market Share? - Restaurants
Market Share is a measure of a customer’s preference for a product over similar products available.
REMS has reinvented the market share concept for the restaurant industry. Each restaurant using our product will have the opportunity to compare their performance against a personalised set of competitors with similar offers, prices or locations and measure customer preferences in the area.
A higher market share results usually mean greater sales, less effort to sell and if the market expands, the leader gains more than the others.
For example, if your restaurant has four main competitors and there is a total of 1000 customers in the area looking to dine on a given day, your results will be calculated based on how many customers you attract and how much money they spend at your restaurant. We will determine what your fair share of the market is and we will use these results to give you insights into where your opportunities and challenges are!