Restaurant News Hubb
Advertisement
  • Home
  • News
  • Restaurants & Services
  • Contact us
No Result
View All Result
  • Home
  • News
  • Restaurants & Services
  • Contact us
No Result
View All Result
Restaurant News Hubb
No Result
View All Result
Home Restaurants & Services

Restaurant patron price sensitivity increasingQSR Web

admin by admin
October 25, 2022
in Restaurants & Services


Oct. 25, 2022

Nearly three-quarters of consumers (72%) believe restaurant prices are higher, or much higher, than a year ago and 40% don’t consider restaurants a good value.

Those are top findings from a Revenue Management Solutions Q3 survey on consumer views regarding restaurants, cooking at home and grocery prices.

Half of consumers state they’re spending more at restaurants due to higher prices and 68% are comparing prices before making a choise and 67% know the price of the menu item they’re ordering, according to a press release on the findings.

The trends report also revealed a 3.7% dip in restaurant traffic and a 4.1% drop in quantity per transaction.

Yet nearly two in five consumers are ordering more or much more from QSRs, which reflects a 7% increased from Q2 this year.

The report also revealed weekly usage of restaurants is up by 9% for dine-in and 6% for delivery and a majority report at least one weekly restaurant visit across all revenue channels.

One in three polled plan to eat out more or much more in the future, which is a 10% to 15% jump depending on the revenue channel, according to the report, and everyday home cooking has increased from 59% to 72% since Q1.

The data, according to Revenue Management Solutions SVP of Consulting Richard Delvallée, indicates customers are showing early signs of check management but are not yet “trading out.”

“Abundant value deals, innovation within the value menu and personalized deals can keep traffic flowing and strengthen loyalty despite inflationary pressures on both restaurants and consumers,” stated the release.



Source link

Tags: marketingTrends / Statistics
Previous Post

Panera adds to grocery lineupFast Casual

Next Post

McDonald’s brings back the McRib and an old marketing gimmick

Next Post

McDonald’s brings back the McRib and an old marketing gimmick

Recommended

How loyalty programs encourage repeat customers

January 27, 2023

Best Venues in the World Right Now Setting the Standard

November 26, 2022

The famed Noma to close its Copenhagen restaurant and transform into food innovation lab

January 9, 2023

Starbucks, Doordash partnership heats up

January 17, 2023

Don't miss it

News

Songwriter Justin Tranter’s Grub Street Diet

March 31, 2023
Restaurants & Services

Presto to double down on drive-thru AI under new leadership

March 30, 2023
News

Taco Bell’s Fan-Favorite Voting Is Back for Round Two With a Beefy Crunch Burrito vs. Cool Ranch Doritos Locos Tacos Matchup

March 30, 2023
Restaurants & Services

Hiring and retention trouble? Invest in your people!

March 30, 2023
News

9 ways to combat increasing food costs

March 30, 2023
restaurant-20

© Restaurant News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Restaurants & Services
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Restaurants & Services
  • Contact us

© 2022 Restaurent News Hubb All rights reserved.