Value

Value of Food

What is driving the trend?

The Global Downturn - With countries emerging from the global downturn at different speeds, it’s important to note that the majority of consumers do plan to spend less on eating out for the foreseeable future.*

Research shows many consumers make smaller indulgent purchases but forego more extravagant expenditure on larger items or bigger occasions. Undoubtedly, consumers have been trading down but there is also a renewed desire to invest more energy into getting better value wherever they are and whatever they are spending their hard-earned money on.**

*Mintel Global Research 2009
**Euromonitor 2009
 

How this is emerging in the market

More Deals - As many as a quarter of consumers are coping with the downturn by only visiting restaurants that are offering discounts on their menus. Coupons for money off are the most popular incentive.

Greater Competition - The scramble to attract guests and capture their eating out spend has led to a much more competitive market. Certainly chain operators that benefit from having a bigger marketing resource have been winning in many markets. Clever pricing strategies are being used to attract guests and many of them are aware of the great eating out deals available.

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