A guide for understanding attitudes and behavior in a cost-driven market
Expand your understanding of how the rapidly evolving economic climate impacts restaurant prices, and ultimately consumer spending. The Consumer Pricing Strategy Report provides comprehensive insights—based on 2,000 consumer interviews and exclusive Technomic foodservice pricing data—to explore how current and emerging economic trends, as well as restaurant pricing strategies, impact consumer decision-making.
REPORT BENEFITS
Consumers' thoughts and expected actions around restaurant menu price increases
How much restaurants can increase prices, when price increases are expected by consumers and the best way to implement and communicate a pricing increase
The conditions in which consumers will trade up, down or across different restaurant segments
Specific concept positioning and/or menu amenities that influence price elasticity
CASE STUDY ANALYSIS AND BEST PRACTICES
Controlling commodity costs
Revamping and repositioning menu items
New product/menu item development with the new economy in mind
COMPREHENSIVE COVERAGE AND ACTIONABLE INSIGHTS
Our thorough methodology, combined with Technomic's industry expertise, serves as the foundation for this robust analysis of the dynamics shaping consumer expectations of foodservice pricing strategies. Using this exclusive report, learn how to:
Better position offerings and provide up-selling opportunities to the 46% of LSR customers, and 32% of FSR customers, who are cutting back on restaurant spending by purchasing less-expensive items on-premise rather than visiting these locations less frequently.
Meet the needs of consumers who are facing greater financial strain. Only one in four consumers (25%) place any blame on the industry for the rising cost of food. Rather than an operator implementing a price increase under the radar or just taking the hit as to not lose customers, this report will touch on a number of pricing strategies that will benefit operators' bottom line without putting a greater dent in customers' checkbook.
Market to the 40–70% of consumers with whom the positioning statements “premium,” “portion” and “fresh” resonate strongly.
Respond to the needs of the 20–30% of consumers who are willing to pay more at either breakfast, lunch or dinner if the establishment offers healthier options.
To obtain your copy of the Consumer Pricing Strategy Report, or for additional information, please contact Patrick Noone at (312) 876-0004, ext. 3852 or fill out the contact form below.
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