Lunch spending set to rebound
After a 4% decline in 2009 and another 3% decline in 2010, lunch daypart sales are set to pick up in 2011. Unemployment and the economic slump spurred budget-conscious consumers to cut back on lunch spending in restaurants, but creative marketing and unique offers spurred consumers to come back. Fast-food operators with lunch menus in the “extremely affordable” category have sustained the industry and helped it bounce back during the recession, according to Packaged Facts.
- After two years of decline, restaurant lunch sales are set to rebound 2% to $114 billion in 2011
- Survey respondents aged 18-24 are 60% more likely to have lunch at a restaurant that offers meals under $3
- Limited time $1 lunch deals continue to be a draw in fast-food establishments
- The interest in ingredients is just as important as price, as both men and women are eating smaller portions that are both cost- and health-conscious
Source: Packaged Facts' Lunch Trends in the U.S. Foodservice Market