Has the Value Proposition Gone to Sh#t?

2 Aug

ValueWith this new economy have consumers taken matters into their own hands? Over the last few months we’ve noticed more and more consumers looking for deals. Take for example markets such as NYC: saving money, couponing and self made are in, and that NYC chic has crossed over into the average American household – their thoughts are – “it’s okay for me to be cheap now”. It’s also most likely why we’re seeing such a rise in business from Olive Garden – great article in Fast Company this month if you have a chance to read 

While many food analyst have said that it’s not a matter of trading down, it’s more a matter of consumers dining out less. I’d tend to throw a wrench in there and say – yes, consumers are most definitely trading down. While they are dining out less they are also dining out smarter. That Friday night date night to Seasons 52 has now turned into Friday night date night at the local taco joint for a bucket of beer and nachos. The happy hour at the local watering hole is now a wine party at home with close friends.

My new value equation is as follows: value = money saved while spending time with the people who are closest to you. Experience is what you make of it and doesn’t = indulgence and being seen is gone. Therefore it’s probably not the best time to open up a sexy bar in soho, it’s the time to open up a dive bar with an old juke box. 

Value is perception, there are only so many $5 meals that establishments can come out with. My advice: be consistent, be clean, be courteous.  The three C’s of Sunday.

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