This week on the Extra Serving podcast, a product of Nation’s Restaurant News, NRN editors Holly Petre, Alicia Kelso, and Joanna Fantozzi discussed the state of the consumer.
There have been many conversations over the past few months about what consumers wants, what they consider “value” in an industry that’s seen prices rise substantially over the past five years.
Quick-service brands like McDonald’s and Burger King have announced plans for $5 meals. Jack in the Box is planning a $4 menu.
Meanwhile, casual-dining brands like Chili’s and Applebee’s are emphasizing their value propositions in advertisements.
Amid these changes, there have been multiple studies that show consumers are not only noticing the changes but are turning away from QSRs all together. Some consider fast food a luxury, while others are trading up to fast casual as the price difference closes.
So, how can restaurants address this consumer’s needs?
