Dine in Luxury at Affordable Prices- Food Trends 2011

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Restaurants also suffered the backlash of the recession when it hit. They lost costumers, especially those coming from the middle class. However, this did not stop people from enjoying good food though. It was just that they became more frugal and began choosing the places where they could still dine in luxury yet at very affordable prices.

Recession and the Restaurants

As stated above, the restaurant industry was also hit hard by the recession. It was not surprising to see restaurants with multiple dining rooms operating at only one room for the simple reason that there were fewer diners entering their doors. This is especially true when it comes to first-class restaurants who cannot afford to sacrifice quality for quantity.

Aside from this, some restaurants succumbed to the recession and totally reinvented their menus to adjust to the financially trying times. They began offering menus at very affordable prices just to keep their heads above the waters.

Then there is also the growing popularity of a “new” yet old concept of restaurants that popped up during the recession, one of which is the gastropubs. This type of restaurants offers excellent-quality food at very, very affordable prices. They became stiff competitors of family-owned restaurants who are already suffering from a losing battle against giant corporate restaurant chains. Middle class who wanted high-quality dining experience at cheaper prices gravitated towards this type of establishments in lieu of going to first-class restaurants that come with hefty-priced menus.

Lastly, many consumers opted to cook special meals at home instead of visiting high-end restaurant.

Dining Attitude for 2011

Things may slowly be going back to normal, but the restaurateurs and chefs admit that the recession has done substantial damage to the restaurant industry. In fact, they are one of the first to admit that the food and restaurant industry is still a very challenging environment that will need you to be innovative and creative just to survive.

Through the research that I have done on food trends, right now, I foresee that the trend of “dining in luxury at a very affordable price” will still continue come the new year. However, for those who have survived and are surviving the recession with some money to burn, they will go back to expensive menus amidst luxurious ambiance. To capitalize on this and recover from the losses incurred during the recession, we are sure to see more indulgent specials being offered by first-class restaurants.

On the other, most of the middle class society will still seek restaurants that will not only give them the luxurious gastronomical experience that they are craving for but also very reasonably-priced menus as well.

Beating Recession and Competition

We should not forget that we are still battling a financially-trying time, even though it seems that things are going back to normal, albeit slowly. For this reason, here are some of the things that you can do to give your diners that “dine in luxury at affordable price” experience:

The mini plates. One technique that many restaurants utilized is the mini plates. This way, you still get to serve your diners the same high-quality menus but at a price that is not heavy on their budgets and on your pockets, too. The only difference is that they will get to enjoy the “mini everything” concept – from mini appetizers to mini main dishes to even mini desserts.
The junk food upgrade. Yes, you can upgrade what people consider as junk foods and make them healthier for your consumers by making it yourself. One such junk food upgrade is the house-made Cheetos. Not only can you control the ingredients used in the “junk food” but you can also control the flavors and the textures, ensuring healthier food. Right now, there are many restaurants that are employing this technique.
The food truck concept. Because competition in the food and restaurant industry is still, you could always explore the new trend of food trucks. This way, you get to provide high-quality food at so affordable price to a larger number of audiences.
The everyday low price concept. There may be customers who are more than willing to shell out huge sums of money for luxurious fine-dining experience, but then again, there will always be a huge portion of customers looking for special rate menus. For this reason, why not create an everyday low price special for some of your menus? Offer the regular pricey ones but give them the option to choose the reasonable menus as well.

These are just some of the tips on how you can beat not only the recession but your competition as well.

Image Credit: bized.co.uk

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Currently 2 comments - But what do you think?

Posted on Wednesday, January 26, 2011 at 4:39 am
Filed under FnB Bits n’ Pieces, FnB Buzz · Tagged with Chefs, food trends, Restaurants

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Comments

2 Responses to “Dine in Luxury at Affordable Prices- Food Trends 2011”

Anna Johnston says:

January 28, 2011 at 7:03 am

Excellent post Chef Definatly agree on the food truck going off in Oz, they are even springing up in Canberra.

[Reply]
Chef Matthew J.G Reply:
January 28th, 2011 at 2:40 pm
Hello Anna,

Thanks for the thumbs up.

Have a great day.

Matthew

[Reply]