TRENDS THAT AFFECT THE RESTAURANT BUSINESS
A number of megatrends have been identified by Datamonitor, a global market analysis firm. These trends concern behavioral changes and shifting spending patterns in such areas as convenience, health issues, age complexity, gender complexity, life-stage complexity, income complexity, individualism, sensory needs, comfort needs, and connectivity. It is important for restaurant owners to be aware of such trends and to consider their potential impact on operations. Listed below are some current trends, followed by challenges that one may extrapolate from them.
• Lifestyles have become faster paced, and multitasking among work, home, and family responsibilities is common. This has driven people to seek easier ways of coping with the many demands on their time. Consequently, convenience has become a major factor when making consumption decisions. The challenge: How can you make your restaurant more accessible and time-efficient for your target clientele?
• A growing awareness of the importance of health maintenance has raised the demand for healthier choices in restaurants as well as in take-out foods. Health issues and diet consciousness increasingly influence what and where people choose to eat. The challenge: How can your restaurant attract and better serve this growing segment of the market by offering healthier choices?
• Many people are defying the stereotypical patterns linked with their age group. These behavioral changes express themselves as older adults become more accepting of casual dress wear and activities usually associated with younger adults, teens walk around with wallets full of allowance money, and young people with first-time credit cards are eager to exercise their spending power. The marketing strategies and advertising pitches that have been used to attract these groups must be reassessed. The challenge: How can your restaurant keep up with the products and services that these groups now...
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