Restaurants post slowest traffic and dollar growth since 2002-2003
Story Date: 2/4/2009

  Source:  Ann Bagel Storck, MEATINGPLACE.COM, 2/4/09

The fourth quarter of 2008 yielded the restaurant industry's slowest traffic and dollar growth since the recession of 2002-2003, according to research firm NPD Group.

NPD's Consumer Reports on Eating Share Trends, which tracks consumer usage of commercial foodservice, reports foodservice traffic increased 0.2 percent over a year ago for the year ended in November 2008, and consumer spending grew 2 percent.

Promotion-related visits supported all commercial foodservice gains, NPD reported, as deal visits increased 6 percent and non-deal visits decreased 1 percent. For the annual period ended in November, 23 percent of all traffic involved some type of consumer-recognized deal. More than 90 percent of the increase in deal visits came from quick-service restaurants.

"I don't believe consumers, no matter the state of the economy, will abandon restaurants entirely, they will just use them differently — more cost-consciously," said Harry Balzer, vice president and chief industry analyst for NPD. "The restaurants that deliver value and make it easy to get food cheaper, in new and compelling ways, will win."

For more stories, go to www.meatingplace.com.


 
























   Copyright © 2007 North Carolina Agribusiness Council, Inc. All Rights Reserved.
   All use of this Website is subject to our
Terms of Use Agreement and our Privacy Policy.