Customers are increasingly questioning the value of their restaurant visits.
This week’s episode of the Restaurant Business podcast “A Deeper Dive” features Lisa Miller, a consumer strategist and author of the book “The Business of Joy.” And we talk about consumer attitudes on the value of restaurants right now.
Miller surveys consumers every month and she has had some interesting insights on how diners view the restaurant industry, in particular their views on the price-value equation.
We talk extensively about tipping, and what consumers think about the practice. A growing number of consumers are frustrated with tipping and we talk about why that is.
And we talk about consumers’ views on whether their restaurant visits are worth it. An increasing number of consumers think their visits aren’t worth it and more than half of fast-food customers say they get sticker shock when they visit a restaurant. Fast-food restaurants have raised their prices 30% since the pandemic, which has frustrated diners.
We also talk about what restaurants can do to make their offering more worth it to consumers. Hint: Do not skimp on the training budget.
It’s a fascinating conversation on consumer attitudes so please have a listen.
