Presentation Version October 11, 2019 787-600 Weighted Expenditure - - PowerPoint PPT Presentation

Presentation Version October 11, 2019

Incidence of visits

Eating & Drinking Places

Average

Monthly number of visits

Average

Expenditure per visit

Per month

Weighted Expenditure

2

Weighted Expenditure Per Month

The weighted average expenditure per month shows a 17% increase vs. 2018, or $64 more

$445

$381

in 2018

PR 2018 Source: ASORE, EAT Study, 2018

787-600

• 2156

Implications of Key Findings

HIGHER EXPENDITURE

Must be sustained by continuing to deliver superior Value for Money

• Consumers are spending 17% more

than in 2018 in restaurant experiences despite the short-term economic uncertainties

• Yet, 9 in 10 are satisfied with the

Value received for the price paid

• Restaurant operators must continue to

strive to ensure higher ticket averages, while delivering top value for money via reasonable pricing, superior service and value-added

• fferings

3

787-600

• 2156

Planned Expenditure Per Visit In Next 6 Months (%)

Net planned expenditures show “more” spending across all venues, except Ice cream, Deli and Doughnut

0% 25% 50% 75% 100%

QSR (80%) Casual (38%) Cafeterias (26%) Food trucks (24%) Ice cream (11%) Coffee shops (8%) Doughnut (7%) 17% 15% 18% 15% 25% 18% 11% 12% 10% 11% 23% 16% 17% 11% 14% 19% 21% 20% 22% 17% 16% 21% 17% 27% 24% 21% Will spend more Will spend comparably Will spend less Net change 2018 +2 +21 2

• 4

+17

• 5

+7 +3 +8

• 16
• 4

4

Net change is in percentage points, based on the difference between “Will spend more” and “Will spend less”

Net change 2019 +4 +8 +4 +6 +11 +4 +6 +4

• 5

+5 +1

• 1
• 6

PR 2018 Source: ASORE, EAT Study, 2018

Overall Satisfaction With Visits (%)

Customers are more “fully satisfied” with their visits to Pizza, Food trucks, Family and Ice cream shops

0% 25% 50% 75% 100%

QSR (80%) Casual (38%) Cafeterias (26%) Food trucks (24%) Ice cream (11%) Coffee shops (8%) Doughnut (7%) 16% 31% 20% 22% 13% 24% 19% 8% 11% 11% 13% 22% 14% 64% 51% 67% 62% 76% 56% 76% 88% 71% 80% 74% 74% 74% Fully + Somewhat satisfied Neither satisfied nor dissatisfied Fully + Somewhat dissatisfied

Fully satisfied 2018

35 49 35 39 29 51 42 17 44 21 38 27 39

5

Fully satisfied 2019

36 44 33 40 36 52 46 7 44 37 35 29 33

PR 2018 Source: ASORE, EAT Study, 2018

787-600

• 2156

95% 95% 94% 92%

Service in general Food quality Cleanliness Value received for the price paid

Higher Satisfaction with Key Attributes of Restaurants in PR

Percent of adults who say they are satisfied with the following attributes of restaurants

Puerto Rican consumers show higher Satisfaction with these key attributes than US consumers

6

85% 83% 82% 75%

US 2019 Source: National Restaurant Association, National Household Survey, 2019

Top reason why consumers like locally-sourced food in restaurants* (%)

The main reasons to choose these restaurants include the benefit of supporting local farms and food producers, and having fresher ingredients

18 35 53 70 It supports farms and food producers in the community It is more trustworthy 11 5 7 18 58 3 6 23 32 36 PR US

7 US 2019 Source: National Restaurant Association, National Household Survey, 2019

*Base: Respondents who say the availability of locally-sourced food would make them more likely to choose one restaurant over another

787-600

• 2156

52% 51% 47% 40%

Look up restaurant locations, directions or hours of operation View a restaurant menu online Read online reviews of a restaurant Pay for food or beverages using a mobile platform such as ATH Móvil*

PR generally lags the US in the use of restaurant technologies. An exception is mobile payments

8

64% 69% 50% 17%

*Not measured in US. Statement also included “ApplePay or Samsung Pay”

US 2019 Source: National Restaurant Association, Consumer Technology Survey, 2019

Puerto Rico: Behind US in multiple technological uses, while on parity or ahead in a few

Percent of adults who did these restaurant-related activities in the past year

32% 30% 26% 23%

Follow or interact with a restaurant on a social media platform Look up nutrition information for restaurant food

• nline

Place an order for takeout or delivery using a restaurant app or website Make a restaurant reservation online

Following or interacting with a restaurant in social media is also ahead of US, 32% vs. 19%

9

19% 24% 44% 23%

US 2019 Source: National Restaurant Association, Consumer Technology Survey, 2019

Puerto Rico: Behind US in multiple technological uses, while on parity or ahead in a few

Percent of adults who did these restaurant-related activities in the past year