RETAIL VISITS FOR LUNCH INCREASE 29%
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CHICAGO—Visits to retail stores for prepared foods at lunch increased 29% since 2008, while restaurant lunch visits have declined, according to research from the NPD Group.
The foodservice market research report, The Retail Prepared Foods Market: Assessing the Competition, says consumers prefer retail stores, compared to restaurants and quick service restaurants (QSRs), for healthy options, a good variety of foods, light meal offerings, affordability and one-stop shopping convenience. These attributes are key drivers for the 29% visit growth for retail prepared foods at lunch. High unemployment and shaky consumer confidence are among the reasons lunch visits to restaurants have declined by 1% since 2008.
The growth in the retail prepared foods market is part of the broader trend on the part of Americans to consume more meals in home. A recent NPD forecast through 2022 finds that the instances of prepared food purchased at retailers for at-home consumption will increase by 10% over the next decade compared to a 4% increase forecast for restaurant traffic. The component of the retail prepared food market that is supporting growth is the portion that is purchased and eaten at home or at work for lunch and dinner.
The growth in the retail prepared foods market is part of the broader trend on the part of Americans to consume more meals in home. A recent NPD forecast through 2022 finds that the instances of prepared food purchased at retailers for at-home consumption will increase by 10% over the next decade compared to a 4% increase forecast for restaurant traffic. The component of the retail prepared food market that is supporting growth is the portion that is purchased and eaten at home or at work for lunch and dinner.
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