Although the times ahead appear bleak, a marketing research group reports that total restaurant traffic is up by 1 percent this quarter.
It’s a small consolation, but at a time when business closures loom heavily, the news is encouraging. The reason for this bit of positive growth is being attributed to restaurant deals manifested through “value menus, coupons, discounted prices, and buy-one-get-one-free promotions.”
Bonnie Riggs, a restaurant industry analyst at NPD (the marketing group who reported on the increase in traffic), assessed that restaurant operators, in order to attract clientele, “need to make them an offer they simply can’t refuse.”
“More so than we’ve seen in many years, consumers are looking for savings and ways to stretch their dollar. Restaurant operators are responding to economic concerns with enticing value offers and deals.”
In NPD’s report, 23 percent of the traffic that occurred during the surveyed quarter was instigated by a “perceived deal”.
With rising food costs and better deals for the consumer, could we see a spike in restaurant activity as the incentive to cook at home begins to wane?