While price will always play a major role in the value proposition, Canadian consumers' definition of foodservice "value" is comprised of many factors, including service, ambiance and, most importantly, the quality of menu offerings.
Delivering on these multidimensional elements of value is crucial as today's consumers' seek an overall fun, unique dining experience where they can connect with friends or family. Technomic's Canadian Value & Pricing Consumer Trend Report finds that the ability to deliver a high-quality, memorable dining experience that makes guests feel valued ensures guests feel good about the overall experience.
"When consumers' expectations for value are met, they feel good about the dining experience and are more likely to visit again," explains Kelly Weikel, director of consumer insights. "Promoting the overall experience, including the menu and the elements that foster the connective experience, will help meet current expectations for value."
Compiling findings from more than 1,000 Canadian consumers, as well as Technomic's MenuMonitor, Consumer Brand Metrics and Top 200 Chain Restaurant Report, the Canadian Value & Pricing Consumer Trend Report also reveals:
• 74% of consumers say "value" is very important in their decision of where to dine
• 55% of loyalty card holders are very likely to base their restaurant decision on a loyalty membership
• The most influential deals are "Half-Off Specials" and "Discounted Meals"
The Canadian Value & Pricing Consumer Trend Report is one of many topics in Technomic's Consumer Trend Report series offering the most current analysis, insight and opportunities to help grow your business. Our best-in-class intelligence combines 50 years of foodservice expertise with critical findings from over 7,000 menus per year and nearly 30,000 annual consumer interviews.