DALLAS —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
“Conspicuous consumption is out,” said Technomic’s Kevin Higar. “It’s chic to be cheap.” —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
Higar, who is director of operator product development for the Chicago-based market research firm, shared survey results and general consumer trends in a session called “New Foodservice Consumer: A Guide to Patron Care & Feeding in Uncertain Times” during the Menu Trends & Directions conference here. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
He cited data from Technomic showing that more than 70 percent of those surveyed called the economic crisis a “wake-up call,” and 87 percent said they now needed to save more and spend less. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
Today’s consumers take pride in being frugal, he added, so restaurant operators need to respond with promotions that ensure they feel they’re getting their money’s worth. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
He cited Maggiano’s Today & Tomorrow program, in which customers can select two entrées for the price of one—one to eat at the restaurant and another that is packaged and ready to go by the end of the meal—as an initiative that sends a message to customers that a restaurant is on their side. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
Dollar menus and multicourse fixed-price meals continue to be popular among chains, Higar said. Still, he reminded operators to offer deals cautiously, as diners can quickly become trained to expect something for less and may not respond well when prices go up. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
“Create value without a set price,” he said. “Don’t let the customer tie a ‘50 percent off’ or a ‘$3.99’ to that dish. Add value, but don’t necessarily imprint a price on it.” —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
If a restaurant offers an entertaining atmosphere, stellar service or attractive presentation, customers will pay higher prices without feeling that they abandoned their financial goals, he said. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
“If you can convey [those selling points] in menu descriptions or maybe with the drama of an open kitchen, that’s something diners will really give you credit for,” he said. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
Citing data from Technomic that 77 percent of respondents eat out less often, he noted that several restaurant companies are trying to reach elusive consumers through catering and retail. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
Wolfgang Puck has teamed up with Sam’s Club to offer home meal options that average out to about $3.50 a person, for example, and Ruby Tuesday has been promoting its catering option, he noted. —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
“You have a huge opportunity to help set strategy,” he said. “Let’s integrate into their lifestyle, give them one less thing to have to worry about.”— [email protected] —The way to today’s consumers’ hearts is through their wallets, and recognizing and responding to changes in consumer spending habits is vital to success, a representative from research firm Technomic advised restaurateurs last month.
