Growth is forecast for the morning daypart
Breakfast spending at restaurants took a downturn in 2010 but is expected to rebound in 2011. Additionally, breakfast fared decently throughout the recession, taking market shares from both lunch and dinner dayparts, according to Packaged Facts’ Breakfast Trends in the U.S. Foodservice Market.
To build morning traffic, quickservice restaurants are competitively pushing breakfast deals that highlight value. Value pricing resonates with the demand for low-cost breakfasts, and is important to market if the foodservice industry wants to grab hold of the potential breakfast consumer.
- Consumer spending on breakfasts at restaurants is anticipated to reach $38 billion in 2011
- Value pricing meets the reality of the lower-to-middle and middle-income consumers
- 31% of customers surveyed said they have been influenced by a maximum $3 price when picking a restaurant for breakfast
- Convenience and menu features greatly influence customers’ decision on where to eat breakfast
- Quality coffee can increase foot traffic; more than 50% of adults drink coffee
- 34% of restaurant goers ate breakfast in a restaurant during July, but there are more than 150 million adult consumers who do not patronize restaurants for breakfast
Since breakfast remains a relatively untapped market, increasing customers today may correspond to increasing revenues in the future.
Source: Packaged Foods’ Breakfast Trends in the U.S. Foodservice Market; September, 2010