Chicago — More than forty percent of consumers say they are loyal to their favorite restaurants and will go there whether or not the establishment has a promotion, reports The NPD Group, a leading market research company. And although there are still over one-third of consumers looking for bargains when choosing a restaurant, this large group of “loyal” restaurant consumers defines value as more than price, according to a recently released NPD foodservice report.
Quality is a key driver for the “loyalist” restaurant consumers and quality remains the most important value driver for most consumers when choosing restaurants, even bargain hunters want quality for the price, according to the NPD report entitled, Defining Value Today: How Consumers Choose to Eat Out. The report, which takes an in-depth look at how key consumer segments perceive the relationships between price, quality, and value, finds that in addition to loyalists and deal/price seekers among the other consumer segments identified are those that look for quantity of food.
“Consumers choosing where to dine is subject to some of the same pricing and deal pressures as other retail categories, but there remains large segments of the population for whom “value” is much more than the lowest prices,” says Bonnie Riggs, NPD restaurant industry analyst. “Given this, operators will want to execute different marketing campaigns to appeal to a broad base, while remaining relevant to those seeking out the lowest price and best deals.”
About The NPD Group
The NPD Group provides global information and advisory services to drive better business decisions. By combining unique data assets with unmatched industry expertise, we help our clients track their markets, understand consumers, and drive profitable growth. Sectors covered include automotive, beauty, consumer electronics, entertainment, fashion, food / foodservice, home, luxury, mobile, office supplies, sports, technology, toys, and video games. For more information, visit www.npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup.
Source: The NPD Group
