As of October, both the frequency and the check average of business meals has increased. Casual and Fine Dining restaurants have become the targets of diners eating out for business-related meals, according to a survey by Consumer Edge Insight.
David Decker, president of Consumer Edge Insight remarked, “A higher-spending business meal customer is a very welcome development for the high-end but also the middle tier of the restaurant industry. For fine-dining restaurants, one of their core customer segments is starting to visit restaurants more often and is more likely to be trading up to fine-dining than a year ago. While this is a smaller customer segment for most casual-dining restaurants in terms of traffic, the higher average spending among this group makes them an important segment to understand and target as much as possible given your brand.”
So what does this mean for limited-service concepts?
Limited-service restaurants wanting to target business diners should seek ways to overcome obstacles to being perceived as less desireable for business-meal occasions. One idea is to promote catering.