Edit

Shifting definitions of value increasingly include food quality and service, Technomic reveals in new report

CHICAGO, July 25, 2019 — Value remains a vital component in the path to purchase, with 76% of consumers saying it’s a very important factor when deciding where to dine. Technomic’s 2019 Value & Pricing Consumer Trend Report also reveals that roughly one-quarter of consumers say their definition of value has changed over the past two years, with food quality and service, in particular, playing an increasing role in the value proposition

“As definitions of value continue to evolve, operators will need to renew their focus on meeting, if not exceeding, expectations across all aspects of the value equation—food quality, price, service and atmosphere,” explains Bret Yonke, manager of consumer insights at Technomic. “Moving forward, look for high-traffic, high-volume segments like fast food to further experiment with subscription models, such as $5 per month for a daily coffee, to drive both value perceptions and visit frequency.”

Key takeaways from the report include:

  • 47% of consumers say they look for good value because it makes them feel better about eating out if they know they got a good deal
  • Roughly half of all consumers across all restaurant segments say they cut back on add-ons from time to time to keep the cost of meals down
  • 65% of consumers say they have noticed menu prices increasing over the past year


Compiling findings from 1,700 consumer responses, as well as trends, the comprehensive 2019 Value & Pricing Consumer Trend Report helps foodservice operators and suppliers better understand consumers’ perceptions of value and pricing and identify opportunity areas.

Technomic publishes a complete library of Consumer Trend Reports. To learn more, please visit technomic.com or contact one of the individuals listed below.

Contacts:
Press inquiries and report details: Anne Mills, (312) 506-3867, amills@technomic.com
Purchasing details:Patrick Noone, (312) 506-3852, pnoone@technomic.com

About Technomic
Technomic, Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic’s services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking, as well as other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com

About Winsight LLC
Winsight LLC is a business-to-business information company serving the restaurant and noncommercial foodservice, convenience and petroleum retailing and grocery industries. Winsight provides research and analytics, branding solutions, face-to-face opportunities, lead generation initiatives, and content marketing services through products including subscription data products, reports, research tools, research programs, fully custom studies, conferences, custom marketing services, meetings, print and digital trade media. To learn more, visit www.winsightmedia.com

Winsight LLC is a portfolio company of Pamlico Capital.

Recent Press Releases

August 8, 2019
Recent study findings from Technomic’s Away-from-Home Beverage Study showcase the latest trends and offer forecasts for the away-from-home beverage category
August 8, 2019
Winsight, the leading provider of business research, news, trade shows, networking events and other intelligence for the food and beverage, convenience retailing and grocery industries, has announced two key executive appointments to facilitate its continuing rapid expansion.
August 2, 2019
The 2019 Canadian Burger Consumer Trend Report shares the current and forecasted challenges and opportunities within this category