Chicago, October 21, 2008, Business Wire – In a recently-completed survey ofconsumers, Chicago-based foodservice consultants Technomic, Inc. found that the financial market meltdown is likely to cause a high number (74 percent) of consumers to visit both quick- and full-service restaurants less often. Technomic also found that over 50 percent of consumers – and over 70 percent of higher-income consumers – plan to spend less when they do visit either type of restaurant.

“Our research indicates that consumers are deeply concerned about the loss in value of their home equity, stock portfolio and retirement investments and their credit card debt. As a result, they indicate clear intentions to reduce spending in a variety of ways,” says Bob Goldin, Technomic Executive Vice President. “Restaurants will most certainly feel the effects of the pull-back.”

For more information on this study, please contact Bob Goldin at 312-506-3936 or rgoldin@technomic.com.

Technomic provides clients with the facts, insights and consulting support they need to enhance their business strategies, decisions and results. Its services include numerous publications and digital products, as well as proprietary studies and ongoing research on all aspects of the food industry.

Source: Technomic, Inc.
Press Contact: Chris Urban, 312-506-3929 or curban@technomic.com