Two separate restaurant reports that were recently released contradict each other on future consumer trends in restaurant dining. The reports offer opposing data on whether consumers use price and deals as a top reason to dine out. The reports also question whether price, deals or coupons will continue to be a deciding factor in consumer’s restaurant choices.
Are Consumers Less Interested in Price?
The first report, just released by the NPD Group, indicates restaurants are seeing a trend that consumers are becoming less interested in price or deals as an enticement to dine out. The report reveals that 22% of respondents to the survey said they were looking for a good deal at restaurants. This is down from 29% a year ago.
Restaurants Get Choosy on Promotions
It appears many restaurants have started to back away from deep discounts and are starting to be more discerning about price promotions. However, the report also indicates that no one knows how long it will take consumers to back away from price promotions – it may be a slow process.
Opposing Reports on Consumer Restaurant Trends
Far different information is found in another study titled The 2010 New American Diner Study at Restaurants and Institutions. Their report indicates consumers continue to observe price before everything else as the key decision when making dining choices.
In fact, the report says nearly 60% of respondents agree that, “In choosing a restaurant, price is usually my first consideration.” Diners across the all categories said lower price is the number one incentive for eating out in a restaurant on a regular basis. This applies to all three daily meals at restaurants.
New Social Media Delivery Channels
Restaurants are looking at different ways to market to price-conscious consumers such as new social media delivery channels. The Restaurant and Institutions study says respondents commonly checked Facebook and Twitter for coupons and deals.
Discounts are the number one reason consumers say they connect to the restaurant’s Facebook or Twitter page. Restaurants are becoming more social media savvy and learning to offer contests or asking consumers to mention a specific “tweet” to get a special deal at the restaurant.
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