Increase Your Restaurant Revenue During Off-peak Hours
Snacking is not just for in-between meals – Menu development for the next generation
Over the past decade, eating habits are shifting in response to a shift in the American culture and lifestyle. In 2014, Bloomberg did a study that indicated people are spending almost as much money dining out than eating at home. The possibilities for increasing profits may lie in the way people are eating today. The demand for quick, healthy snacks are on the rise among people who like to eat a few small meals a day.
Changing Menu Preferences
The Technomic 2016 Snacking Occasions Consumer Trend Report highlights the importance of snacking and reveals some opportunities for restaurants to increase market share in this space by capitalizing on the trends. The report indicates that 60 percent of consumers snack at least twice a day and 37 percent would like more restaurants to offer mini-sandwiches that they can eat as a snack or light meal. These trends had double-digit increases and suggest that restaurants may need to revise their menu development.
Some of the key takeaways of the report are diners want healthy snacks in place of, or to go with full course meals. The trend has rapidly changed as 40 percent of consumers are eating healthier foods between meals, more than they did just two years ago. According to the 37 percent of respondents, if bundled mix-and-match snacks were available, they would order them. These diners are not looking for a typical meal. Proper menu development is critical in this aspect because studies show that 49 percent prefer snacks that are different from breakfast, lunch and dinner fare.
A Transforming Culture And Demographic
Having to conform to a hectic lifestyle, dual income parents and single parents are eating outside of the home at least once a week. Additionally, many parents want to provide healthy snacks for their children in between meals. However, the real “snackies” are the millennials. There are three defining characteristics about this group. They are budget conscious, they want healthy food and eat a few small meals a day and they prefer to eat at off-peak times. As their purchasing power increases, restaurants will have to rethink their menu development in order to capture their business.
In the Technomic 2016 Snacking Occasions Consumer Trend Report, some of the responses by millennials were not that surprising. If available, 44 percent of millennials would order snack delivery from restaurants. Additionally, 54 percent of this group prefer unique flavors and pairings in their healthy snacks.
Where The Opportunities Lie
The report also generated some interesting information that has the potential to drive more revenue and increase market share in the snack category. A restaurant consultant can help you with your menu development to capture these missed opportunities.
While 56 percent of snack purchases are planned, 44 percent of people attribute their snacking to an impulse buy. Restaurant consultants can help catch that impulsive buyer with better placement and creative menu design. Leveraging the restaurant consultant’s knowledge can also help restaurateurs take their share of the snack market. With statistics that demonstrate consumer snack buying behavior favoring 77 percent of snack purchases at retail locations and only 23 percent bought snacks at restaurants there is room for growth. Work with a restaurant consultant to develop an atmosphere that grabs some of the 72 percent of people eating their snacks at home.
Learn more about how menu development can help transform your snack business on our TRG consulting service pages.