More people think of dining-out as a luxury

Observation:  An article from Progressive Grocer suggests that more people are cooking at home to save money, based on research from The Harris Poll.  Click here to see the story.

Implications:  I’ve read trade stories, recently, that folks are more likely to stop at their favorite restaurant, and that the average expenditure per visit is beginning to grow again.  And yet, more people indicate they’re still playing it conservative with regard to restaurant spending.  Are these assertions in conflict?  Or is it is possible for both to be true, as consumers continue to reconcile their finances with the current economic reality?

Whether you’re a restaurateur, convenience store owner or supermarket operator… the competition for food dollars seems to remain strong.  (That Progressive Grocer often publishes stories about the out-of-home dining sector is evidence of that fact.)  Each food channel must fight to regain the customers they may have lost during the recession, as well as retain those that were gained as consumers traded-down.  How does your messaging persuade consumers that your restaurant or store satisfies their needs best?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.