Ready-2-Eat
and Heat-N-Eat fresh prepared food continues to garner customers from legacy
chain restaurants driven in large part by convenience, lower price point, and
ramped-up offerings, consumers are increasingly turning to non-traditional
outlets for meal solutions according to Foodservice Solutions® Grocerant Guru® Steven Johnson.
Restaurants
have for the most part turned a blind eye to the plethora of offerings that
range from upscale menus items, mid-range family meals to individual portioned
meals that can be customized. Increasingly c-stores and grocery stores are developing in-store dining experiences that
are turning them into a destination for breakfast, lunch, and dinner. Clearly
they are finding success and are taking a bite out of restaurant profits along
the way.
THE RISE OF READY-TO-EAT
In a
recent study by the NPD Group titled “Growth and Composition of the Retail Prepared
Food Market,” Found “restaurant growth is being eclipsed by retail prepared
foods to go, which have grown 5 percent from 2008 to 2013 as restaurant sales
declined for two years and are now flat. Retail prepared foods eaten at home
(versus eaten at work or other locations away from home) climbed 12 percent
from 2008 to 2013, and NPD forecasts another 10 percent increase by 2022—double
the growth that restaurants will see.”
Nation’s
restaurant news continues to report that most chain restaurant sales are flat
with many trending down. We are talking companies the ilk of Bravo Brio,
Denny’s, Applebee’s, Potbelly, Buffalo Wild Wings, BJ’s, and Chipotle. Regular readers of this blog know this has
been a reoccurring theme for several years.
Price Matters
This year
the retail price of food at grocery stores has gone down close to 6.4% all the
while prices continue to rise and are up about 3.3% year over year within the
restaurant sector. The consumer is
evolving and adopting grocerant niche Ready-2-Eat and Heat-N-Eat fresh prepared
food that is deemed restaurant quality according to Foodservice Solutions® Grocerant Guru®.
According
to the United States Census Bureau, 50 percent of Americans over the
age of 18 are
single. This group is buying prepared foods, rather than dining out or cooking
large meals for themselves, says Johnson.
Johnson
wonders out loud at time why are legacy restaurants not capitalizing on this
movement by updating prepared food menus with trendy ingredients and flavors,
and offering more options for special-interest diets like vegan, gluten-free,
and paleo for Take-Out, Take-Away, and To-Go? It’s time that restaurant chains
began leveraging their brand power, menu’s and marketing to drive top line
sales and bottom line profits in the fastest growing sector of foodservice.
Invite Foodservice Solutions® to complete a
grocerant program assessment, grocerant ScoreCard. For brand, or product placement assistance
our Grocerant Guru® has the skill-set you are looking for. Since
1991 www.FoodserviceSolutions.us of Tacoma, WA has been the
global leader in the Grocerant niche. Contact: Steve@FoodserviceSolutions.us or 253-759-7869
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