A recent research study has found that restaurant-goers have a new definition of value. While it’s easy to assume that value is synonymous with price, consumer behavior suggests that quality is most important.
The NPD Group conducted a study to examine consumers’ perceptions of value when they go out to eat. According to “Defining Value Today,” quality of food is the most important value driver when choosing a restaurant.
While it may seem simple at face value, there are many attributes that factor into the value equation. Consumers consider aspects such as service, portion size, taste, quality, and atmosphere. While price is still a consideration, only a small percentage of people feel that price alone drives their decision-making and, instead, the correct combination of value elements is more important.
It’s not enough for restaurants to simply offer quality food; they must also communicate their story to consumers who are interested in the quality and sourcing of ingredients. To provide the information consumers seek, many restaurants tell their story by featuring their suppliers, adding sourcing information to the menu, or sharing the farming methods used to grow ingredients. Chipotle’s story is based on serving “Food with Integrity,” which they describe as “the very best sustainably raised food possible with an eye to great taste, great nutrition, and great value.” To support this mission, their website offers a wealth of information on the animals, people, and environment that are involved in the Chipotle supply chain. In another example, Tender Greens, a fast-casual restaurant based in California, provides consumers with the exact farms and purveyors they use to source their ingredients, which in turn helps to communicate their philosophy of “slow food done fast.”
Whether it’s time to update your menu with quality ingredients or you simply need to better communicate your message, use this consumer research to your advantage and give consumers what they are craving.