Why restaurant consumers are more value conscious right now

This podcast episode explores the challenges faced by the restaurant industry in maintaining consumer value and frequency of visits. It discusses the impact of rising costs on consumer dining habits, leading to a decrease in overall restaurant visits. The episode also highlights the "K recovery" phenomenon, where higher-income consumers are increasing their frequency of visits while lower-income consumers are reducing theirs. The impact of inflation on the industry is discussed, with brands catering to higher-income consumers performing better. The episode also examines the challenges faced by McDonald's in maintaining consumer satisfaction and perception of value. Additionally, it discusses the potential drawbacks of loyalty programs in the industry, including customer attrition and a divide between loyal and non-loyal customers. Overall, the episode emphasizes the need for a balanced approach to maintaining consumer value and loyalty in the restaurant industry.