There are very few chefs who want to brag about how well their restaurant is doing. More likely you’ll here the word “fine.” That’s right up there with describing an individual by saying “nice.” Not much information, but nothing inflammatory, either.
Yes, no matter how many steps we move forward from the economic mess, we are still left with the reality that this has been a difficult year and much has changed. Maybe not at the very high end that appeals to individuals who are still quite comfortable and have little idea what I am referencing. They are a small percentage of overall dining patrons. They will continue to dine where they dine and support high-end establishments.
The rest of the dining out universe looks for opportunities to make dining out an ongoing affair, but a more affordable one. Look at casual restaurant chains such as TGI Friday’s–click for the buddy coupon, Applebee’s, and Chili’s. Even Bonefish Grill wants to play. They all say: Come inside; have we got a deal for you!
Restaurants that hosted Restaurant Week promotions report strong results with many continuing them into multiple week promos. Diners love the 3-course prix-fixe concept. We’ll probably see more of those promotions as they help both the diner and the establishment.
At a much higher end is a popular annual summer promotion, the multi-pound lobster special at The Palm. These dinners for two cost significantly more than many people are spending for dining out, and one wonders if the reduced price in lobster should not have convinced the restaurant chain to lower prices this year. After all, lobstermen have been complaining about how little they are getting for a lobster. Maybe they should just befriend The Palm!
So many restaurants have not adjusted or understood that the diner is more cautious. Results often mean a closed spot such as the once popular Olives Restaurant (as in chef Todd English’s outpost) in Washington, DC. No more. Shuttered. A week seldom goes by without such an event. It’s tough out there.
Adjust. Listen to your guests. Find a direction.
You set that table. We’ll come.
