Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
Executive Summary
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- A challenging recessionary environment
- On the positive side
- Short term strategy
- Spinning value on the menu
- Fast food operators should pay close attention to their value menu mix
- Taking a second look at incentives
- Short and long term strategy: be on trend!
- Big trends that are getting bigger
- Emerging trends poised for takeoff
- The dining out consumer
- Restaurant usage, by segment
- Dining out rationales
- Important restaurant qualities
- Food qualities at favorite restaurant
Insights and Opportunities
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- Taking the long view: it’s about the lifestyle benefit
- I don’t care how bad the economy is. I want it, and I want it now.
- Healthfulness is here to stay. The government says so.
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- Figure 1: Incidence of trying to eat healthier foods, 2003-08
- Why is this important?
Inspire Insights
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- Goodbye to the American portion?
- Broad strokes
- The dining out dichotomy
- Another helping?
- Free will is a gift that can be taken away!
Market Drivers
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- Key points
- Economic overview: not a pleasant picture
- Hop on the CPI rollercoaster!
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- Figure 2: Consumer Price Index, indices of key consumer items, January 2006-November 2008
- Consumer debt: the chicken that has come home to roost
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- Figure 3: Consumer credit outstanding, dollar change, 2007-08
- Figure 4: Consumer credit outstanding, percentage change, 2007-08
- Home and equity value declines: a one-two household wealth punch
- Real estate woes bring down the house
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- Figure 5: Case Shiller Home Price Index, January 2004-October 2008
- Taking little stock in the stock market
- A gloomy travel picture
- Bottom line: restaurants feel the pain
- Industry recession passes one year mark
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- Figure 6: Restaurant Performance Index, current situation, and expectations, November 2007-August 2008
- Commodity prices on a tear—no, that was last month
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- Figure 7: Producer Price Index, key farm products, January 2004-November 2008
Competitive Context
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- Meals eaten away from home enhance their price competitiveness
- Traffic bleeding from restaurants to the kitchen table
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- Figure 8: Ways consumers have cut down on restaurant spending, November 2009
- Ready-to-eat meals
- Convenience, price, and customization provide allure
- Fighting the convenience trend: if you can’t beat ‘em, join ‘em
Innovation and Innovators: Spinning Value
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- Key points
- Spinning value on the menu
- It is more than dollars and cents
- Nothing spells affordability better than $1
- Increased importance of the Dollar Menu
- Finding the right equation: if not $1, how about $5?
- Pushing to the max: how much do I get for the price?
- Pushing “mini”: value in sharing and lots of small bites
- Value in variety
Menu Analysis: The Value Menu
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- Key points
- The ideal dollar menu
- McDonald’s: a Dollar Menu leader
- The signature sandwich: balancing consumer value with operating margins
Innovation and Innovators: Incentives to Dine
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- Key points
- Promotions now the rule, not the exception
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- Figure 9: Incentives to dine at restaurants, by gender, November 2009
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- Figure 10: Incentives to dine at restaurants, by age, November 2009
- Addendum: consumer question explanation
Innovation and Innovators: Big Trends Getting Bigger
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- Key points
- Fresh grows up, branches out
- Fresh appeal
- Fresh from the farm
- Locavore trend grows, adds dimension
- Comfort food reinvented
- The power of suggestion
- Delivery/pickup/curbside
Innovation and Innovators: Emerging Trends
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- Key points
- Bring on the booze
- Creative synergy
- In the spotlight: San Francisco
- Speakeasies: an illicit touch and pricey drinks may beat recession blues
- But it’s not just a San Francisco thing
- Other beverage notes
- Tap water, please
- Enter Obama
- Mediterranean, anyone?
- Restaurant Focus: Roti
Restaurant Usage: An Overview
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- Figure 11: Restaurant usage in past week, selected demographics, November 2008
- Figure 12: Average amount spent on last visit, by restaurant segment, by household income, April 2007
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Types of Restaurants Used
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- Key points
- Restaurant usage, by segment: an overview
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- Figure 13: Types of restaurants visited in the past month, 2008 versus 2009
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- Figure 14: Types of restaurants visited in the past month, by age, November 2008
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- Figure 15: Types of restaurants visited in the past month, by household income, November 2008
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- Figure 16: Types of restaurants visited in the past month, by race/ethnicity, November 2008
- Acculturated versus non-acculturated Hispanics
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- Figure 17: Types of restaurants visited among Hispanics, by language spoken in home, 2008
- Addendum: consumer question explanation
Restaurant Spending
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- Key points
- Spending at restaurants
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- Figure 18: Spending at restaurants compared to last year, by age, November 2008
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- Figure 19: Spending at restaurants compared to last year, by household income, November 2008
- Ways consumers have cut down on restaurant spending
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- Figure 20: Ways consumers have cut down on restaurant spending, by household income, November 2008
Dining Out Rationales
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- Key points
- Experiential/aspirational/social reasons for eating at a restaurant
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- Figure 21: Experiential/aspirational/social reasons for eating at a restaurant, January 2008 versus November 2008
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- Figure 22: Experiential/aspirational/social reasons for eating at a restaurant, by gender, November 2008
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- Figure 23: Experiential/aspirational/social reasons for eating at a restaurant, by age, November 2008
- Specific occasions as reasons for eating at a restaurant
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- Figure 24: Specific occasions for eating at a restaurant, by gender, January 2008 versus November 2008
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- Figure 25: Specific occasions for eating at a restaurant, by age, November 2008
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- Figure 26: Specific occasions for eating at a restaurant, by household income, November 2008
- Reasons for dining out rather than dining in
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- Figure 27: Reasons for dining out rather than dining in, January 2008 versus November 2008
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- Figure 28: Reasons for dining out rather than dining in, by gender, November 2008
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- Figure 29: Reasons for dining out rather than dining in, by age, November 2008
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- Figure 30: Reasons for dining out rather than dining in, by household income, November 2008
Important Restaurant Qualities
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- Key points
- Cost, location and atmosphere
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- Figure 31: Restaurants: importance of cost, location and atmosphere, by age, November 2008
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- Figure 32: Restaurants: importance of cost, location and atmosphere, by HH income, November 2008
- Restaurant staff attributes
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- Figure 33: Restaurants: importance of staff attributes, by gender, November 2008
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- Figure 34: Restaurants: importance of staff attributes, by age, November 2008
- Food and menu attributes
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- Figure 35: Restaurants: importance of food and menu attributes, by gender, November 2008
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- Figure 36: Restaurants: importance of food and menu attributes, by age, November 2008
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- Figure 37: Restaurants: importance of food and menu attributes, by HH income, November 2008
Food Qualities at Favorite Restaurant
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- Key points
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- Figure 38: Food qualities at favorite restaurant, by gender, November 2008
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- Figure 39: Food qualities at favorite restaurant, by age, November 2008
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- Figure 40: Food qualities at favorite restaurant, by household income, November 2008
Custom Consumer Groups
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- Segment overlap analysis: who’s eating elsewhere?
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- Figure 41: Restaurant segment usage, by restaurant segment, November 2008
- Consumer spending trends, by restaurant segment
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- Figure 42: Restaurant spending trends, by restaurant segment, November 2008
- Food qualities at favorite restaurant, by restaurant segment
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- Figure 43: Food qualities at favorite restaurant, by restaurant segment, November 2008
- Addendum: consumer question explanation
Cluster Analysis
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- The economizers
- Who they are
- Opportunity
- The enthusiasts
- Who they are
- Opportunity
- Disinterested and Unimpressed
- Who they are
- Opportunity
- Cluster characteristics
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- Figure 44: Restaurant user clusters, November 2008
- Figure 45: Personal attributes, by restaurant user clusters, November 2008
- Figure 46: Types of restaurants visited in the past month, by restaurant user clusters, November 2008
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- Figure 47: Spending at restaurants compared to last year, by restaurant user clusters, November 2008
- Figure 48: Incentives to dine at restaurants, by restaurant user clusters, November 2008
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- Figure 49: Dining out rationales, by restaurant user clusters, November 2008
- Figure 50: Food qualities at favorite restaurant, by restaurant user clusters, November 2008
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- Figure 51: Important restaurant qualities, by restaurant user clusters, November 2008
- Cluster demographics
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- Figure 52: Restaurant user clusters, by gender, November 2008
- Figure 53: Restaurant user clusters, by age group, November 2008
- Figure 54: Restaurant user clusters, by HH income group, November 2008
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- Figure 55: Restaurant user clusters, by race, November 2008
- Figure 56: Restaurant user clusters, by Hispanic origin, November 2008
Appendix – Additional Consumer Tables
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- Innovation and Innovators: Incentives to Dine
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- Figure 57: Incentives to dine at restaurants, by HH income, November 2009
- Important Restaurant Qualities
- Cost, location and atmosphere
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- Figure 58: Restaurants: importance of cost, location and atmosphere, by gender, November 2008
- Restaurant staff attributes
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- Figure 59: Restaurants: importance of staff attributes, by HH income, November 2008
- Consumer Restaurant Spending
- Ways consumers have cut down on restaurant spending
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- Figure 60: Ways consumers have cut down on restaurant spending, by gender, November 2009
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- Figure 61: Ways consumers have cut down on restaurant spending, by age, November 2009
- Dining Out Rationales
- Experiential/aspirational/social reasons for eating at a restaurant
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- Figure 62: Experiential/aspirational/social reasons for eating at a restaurant, by household income, November 2008
- Custom Consumer Groups
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- Figure 63: Ways consumers have cut down on restaurant spending, by restaurant segment, November 2008
Appendix – Trade Associations
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