Fine Dining Restaurants Decline in Sales

1336 Words Feb 22nd, 2018 5 Pages
The restaurants generally have a more sophisticated décor and ambiance, the wait staff is usually highly trained and often wars more formal attire, and there is often a dress code for patrons” (Trends in Fine Dining). Economic downturn caused high-end restaurants decline in sales and even going out of businesses. During the recession period, restaurant operators are facing challenge of food price inflation and consumer’s preference change. Consumers want less tradition, relaxed and less expensive restaurants. Fine dining become unaffordable to most people during the downturn. Also, food price inflation are tighten their budget and operators are trying to balance the cost while generating profit. On the other hand, income stay leveled and did not competing with inflation. Consumers still want good food and services but they are seeking for place they feel connected, comfortable, quick services and affordable price. Fine dining restaurants become a luxury and not affordable to some consumers; operators are facing challenges to attract and retain their consumers.
The economic downturn started in 2008 to 2009, according to “Hudson Riehle, an economist for the National Restaurant Association, “this is the most challenging period for restaurant operators since 1991. In a recent NRA survey, 53% of restaurant owners cited either the faltering…
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