Restaurant spending will likely continue to climb through the holiday season, as consumer intent to spend increased for the third straight month, according to Kurt Salmon’s Restaurant Spending Trajectory.
Restaurant spending jumped to an all-time high in September, with consumers following through on their stated intent to spend more at restaurants. Both trends seem to have momentum and are expected to continue.
“The industry has done a terrific job of offering compelling value propositions to consumers,” said restaurant strategist Todd Hooper. “The cost to eat at home has been growing much faster than the cost to eat at your favorite restaurant. So consumers are no longer second-guessing themselves about eating out.”
31 October 2011