STORES Magazine - April 2011 - (Page 18)

EXECUTIVE SUITE / ANALYSIS Signs point to an increase in consumers dining away from home N BY SANDY SMITH o one is singing “We’re in the Money,” that old tune about post-Depression hopes, quite yet. But there are positive signs that the restaurant industry is poised for a significant rebound in 2011. or because it’s easier. These people think they’re going to spend more and they are spending more. They’re not as concerned they’re going to lose their job. For others, they eat out because they simply have to, because they are time-starved. “People who are in this category are thinking about how An index of consumers’ anticipated restaurant spending in the next 90 days is up 11 points since the recession bottomed out, according to research by Prosper that was analyzed by international consulting firm Kurt Salmon. That led to improved expenditures in 2010: By the end of last year, same-store sales growth was on the increase, and overall restaurant spending had recovered about 4 percent. There was a slight dip in dining-out spending in January, and consumer confidence in the economy improved, though it was nowhere near the 2007 levels of exuberance. The increase in spending is driven by two factors, says Todd Hooper, retail and restaurant industry strategist at Kurt Salmon. “Consumers really are trying to rethink how they’re going to spend discretionary money,” he says. “Away-fromhome spending on food has a couple of dimensions. There is the aspect of doing something for yourself, for entertainment 18 STORES / APRIL 2011

Table of Contents for the Digital Edition of STORES Magazine - April 2011

Stores Magazine - April 2011
Editor’s Page
President’s Page
Retail People
Chain of Uncertainty
Digital Couponing
Energy Management
Social Media
Cross-Channel Metrics
Broadband Bonding
Workforce Management
Alternative Payments
Divisional Update
NRF News
Point of View
Retail Industry Calendar
End Cap

STORES Magazine - April 2011