In an effort to survive a downturn in out-of-home dining, some restaurants are going after consumers… where they live. Catering is proving to be one way of weathering the out-of-home dining storm, according to this story from Media Post’s Marketing Daily. According to a study cited in the article, roughly 4,000 restaurants -- or 1% -- were shuttered between April 1, 2008 and March 31, 2009. But amidst that turmoil, the story suggests that home entertainment and office catering remain good opportunities for restaurant companies that are equipped to take their show on the road.
Implications: Another reminder that, in addition to battling with competitors in your category, it might be a good idea to ask what kinds of categories you can compete with.
Target is selling outdoor furniture and backyard gazebos as an alternative to taking a family vacation, for example.
So, beyond your long-known list of competitors, where else could you prospect for new business? The idea of extending their turf is apparently making some restaurants feel… “right at home.”
Mike Anderson
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I think an example that illustrates your point is Arby's:
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