Restaurants feeling the heat from retail competition, says Technomic

Restaurants feeling the heat from retail competition, says Technomic PR Newswire READING, England, Oct. 25, 2012 READING, England, Oct. 25, 2012 /PRNewswire/ -- Consumers' increasing time pressures and demand for convenient away-from-home meals favour the growth of the retail foodservice channel. Restaurants and retailers have a long history of competing over consumers' share of stomach. However, retail foodservice allows consumers to purchase meals while visiting retailers for groceries and other items, ultimately saving consumers time and money by combining trips. Technomic's U.K. Retail Foodservice Consumer Trend Report finds consumers believe retail foodservice operators offer better prices, overall value and more convenience than limited-service and full-service restaurants, and that the taste, freshness and quality of retail foodservice offerings are generally on par with restaurants. The expansion of retail foodservice offerings puts retailers in a solid position to meet growing consumer demand for convenient meals and to compete with restaurants, particularly for takeaway occasions. "Facing a double-dip recession, some cost-conscious consumers are increasingly purchasing takeaway sandwiches at supermarkets instead of higher-priced items from restaurants and sandwich bars," says Darren Tristano, Managing Director of Technomic, a global research and consulting firm that extensively studies key players and developments in the retail foodservice segment.