The tough economic times have changed how and where consumers spend their money and what they consider important. The restaurant industry, in particular, has been dramatically affected. A recent report outlined how diners have reacted to recent economic woes and what things might entice them to dine out more often.
- Nearly three-quarters all diners surveyed said they plan on eating out less often in order to save money
- Four in 10 diners felt that restaurants are offering a better value
than in the past
- 38% said they would eat out more often if they had healthier menu options to choose from
- Half said they would likely try a new restaurant if they received a group deal on it
What Does This Mean To You?
While this study pertains to restaurants, there are conclusions that can be drawn for businesses overall.
Consumers are saving money and not purchasing things they don’t consider necessities. They also believe that there are not receiving as much value out of purchases today as in the past. Your marketing message should speak to consumers needs, stress how your product or service will be a benefit to them – how it will save them time or money in the future. This will also help you boost the perceived value of your merchandise.
More and more people are thinking about their health. If your goods & services can help consumers to become healthier, promote it in your message. Consumers are willing to try new things, if they don’t have to pay full price. Group deal programs are amazing acquisition tools and consumers love them. Use deals to reach new customers, but don’t ignore them after they have utilized the deal. Reach back out to them and create loyalty with other offers. Group deal programs can provide you a wealth of information on customers, but it won’t help you if you don’t use it. For more information on efficient and effective ways to reach customers, please contact your Orlando Sentinel Media Group representative or:
Advertising Research Supervisor
Source: Equation Research