Monday News-Nugget Catch-Up for 11/2
Some interesting numbers and insights you might have missed:
► NPD reports that total foodservice spending declined 1.6% in the summer quarter ended in August. Discounts were about the only thing to which consumers responded: Deal-related restaurant visits increased 2%; non-deal traffic dipped 5%. More than half the increase in discounting came from casual-dining chains.
► Technomic‘s research finds that guest traffic decreased 6.1% in September. Business is especially tough for chain restaurants, which declined by 6.6%, while independent restaurants showed a 5.7% decrease. Average check price has decreased 5.5%, with chain restaurants declining only 4.4% compared with independents, down 6.4%.
► We’re not alone in this. Nielsen says its Global Consumer Confidence Index jumped 9 points from 77 index points in April to 86 in October. But even though most consumers are feeling better about the economy, they remain cautious about spending their money.
► Consumers are most cautious on Tuesday, according to Gallup. They spend $55 on that day, compared with $76 on Saturdays. Plan promotions accordingly.
► Yet despite the cautiousness and the downright bad news, Entrepreneur magazine says now is the time to open a restaurant.
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