During the recent recession, if consumers went out to eat at all they often traded down to quick service establishments. This change in behavior benefited operators like McDonald’s which last week reported a revenue increase of 3.8% at restaurants open for over a year. But as the news of economic improvement continues, some industry watchers believe the family dining segment is a strong competitor.
As restaurants continue to search for ways to increase traffic during the recession, they are trying a variety of strategies. In the past couple of months I have highlighted reports that noted the growing healthy menu trends as well as improved offerings on the kids’ menus. Now it seems that restaurants are trying to lure customers with extended ‘happy hours’.