NEW YORK, June 30, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Trends and Behaviors in Eating Out
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Introduction
The foodservice industry has been adversely impacted by declining volumes, falling spend per head and a generally more promiscuous consumer. This report utilises data from Datamonitor's Global Consumer Insight survey to identify key emerging eating out demand drivers and how emerging consumer trends in relation to health, convenience and ethicality are set to impact eating out behaviours.
Features and benefits
* Evaluate the general impact that the global economic downturn has had on consumer eating out behaviour and how these behaviours are set to evolve.
* Identify how different categories within the foodservice industry have been affected and the emerging opportunities and threats to these categories.
* Evaluate the potential impact on consumer demand of marketing and format development through utilizing consumer and market insight.
* Identify and capitalise on the main consumer trends that the report identifies as being the main drivers behind consumer demand in eating out.
* Gain an understanding of how to lessen reliance on margin-eating promotional activity and foster more long term customer loyalty.
Highlights
39% of respondents to Datamonitor's 2010 Consumer Survey said that were dining at home more than previously. CPG manufacturers and grocers have looked to take advantage of the emerging "dine-at-home" trend with product launches that both seek to replicate the restaurant experience, while at the same time responding to consumer convenience demands.
As part of a wider experiential trend, consumer demand is increasingly being driven towards restaurants that can boast a differentiated experience. In eating out, diminishing differences in regard to quality and price – particularly in the mid-scale category – has fostered a general rise in focus on maximizing the moment of consumption.
The quick service/fast food category has been ideally positioned to take advantage of consumers trading down and the prevailing general convenience trend. To this end, traditional fast food chains have generally looked to introduce more tiered pricing to appeal to a wider range of consumer.
Your key questions answered
* What are the key trends driving consumers' eating out habits and how are these set to develop going forward?
* How has the global economic downturn impacted foodservice operators across the spectrum?
* What can foodservice operators do differentiate themselves from rivals?
* How can foodservice operators lessen their reliance on margin eating promotional activity and foster loyalty among consumers?
OVERVIEW
Catalyst
Summary
THE FUTURE DECODED
Introduction: a more frugal consumer is driving a polarization of demand
The global economic downturn and its aftermath have had a significant impact on consumer eating out behaviors
A prevailing consumer trading down trend has boosted quick service/casual operators…
…and driven a greater inclination among consumers to dine at home
A polarization of demand means that building differentiation is more important than ever with consumers prioritizing special eating out occasions
Foodservice operators must not lose sight of the key emerging consumption drivers of health and ethicality
Trend: the global economic downturn has had a significant impact on consumer eating out habits, fostering a more cautious consumer
The global economic downturn has shifted consumer spending priorities
The global economic downturn made consumers less inclined to eat out
In addition to regularity, consumers are changing the types of restaurants that they choose
Consumers have also become more considered in what they purchase while eating out at restaurants
A rise in promotional activity has also helped to foster a greater promiscuity in consumer eating out decisions
Key take-outs and implications: the global economic downturn and its aftermath have had a significant impact on eating behaviors with a more considered consumer displaying a greater frugality
Insight: dining at home is increasingly gaining traction among consumers
The recession has resulted in a greater number of people dining at home
This trend towards dining at home is evident in the increasing consumer appetite for cooking from scratch
Supermarkets have been successful in helping to drive the dining at home trend and in taking advantage of it
Key take-outs and implications: the emerging dining at home trend highlights the need for differentiation among foodservice operators
Insight: consumer attitudes towards fast food/quick service operators are evolving
Fast food outlets have benefitted from the consumer pursuit of affordable luxury
Despite mounting health concerns, fast food/quick service propositions have been ideally positioned to take advantage of growing consumer demands for convenience
Traditional fast food restaurants have helped to drive evolving consumer perceptions through their pro-active response to the polarizing of demand
The success of niche players is helping to alter consumer perceptions of fast food
Key take-outs and implications: quick service/fast food operators are benefiting from changing consumer perceptions and consumer trading down, to the detriment of more formal operators
Insight: consumers are increasingly prioritizing special occasion eating out over more functional occasions
Consumers are becoming more inclined to pre-prepare lunch and eat breakfast at home
Consumers are seemingly prioritizing special eating out occasions
Key take-outs and implications: consumers are prioritizing special occasion eating out over more secondary and functional occasions
Insight: a more promiscuous consumer is increasingly demanding a differentiated eating out experience
As part of a wider experiential trend, consumer demand is increasingly being driven towards restaurants that can boast a differentiated experience
Consumer eating out trends are also being shaped by changing ethnic demographics, which are fostering rising demand for authenticity
Key take-outs and implications: with demand becoming polarized and special occasion eating out being prioritized, consumers are demanding a differentiated eating out experience
Insight: consumer demand in eating out is increasingly being led by the emotional drivers of health and ethicality
Rising health attentiveness is becoming an increasingly important factor in shaping eating out habits
Ethicality has also become an increasingly important consideration in consumers' eating out habits
Key take-outs and implications: beyond value considerations, health and ethicality are becoming fundamental drivers of demand in eating out
ACTION POINTS
Action: focus promotional and marketing activity towards achieving closer customer interaction and fostering customer loyalty
Action: attempt to create and emphasize differentiation as much as possible
Action: tailor proposition to take advantage of emerging general consumption-driving trends
Look to respond to the rising influence of health considerations in shaping eating out decisions
Cater to consumer ethicality demands to boost brand image
Appeal to convenience demands
Action: CPG manufacturers should also look to respond to emerging eating out behaviors
APPENDIX
Supplementary data
Report methodology
Further reading and references
Ask the analyst
Datamonitor consulting
Disclaimer
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Restaurant and Food Services Industry: Trends and Behaviors in Eating Out
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CONTACT
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