Cravens Blog
A Fork in the Road
The softening of the economy has created a fork in the road for restaurants, cafes and drive-thru’s. They are asking themselves – do I take the path of quality at a value and retain my business, positioning myself for the future, or do I “cut and run” sacrificing quality, going with price and hoping I survive. Those are the two paths at the fork in the road.
Interestingly, the consumer is not seeing the same fork in the road. Our deduction, evident through sales, is that Specialty Coffee, at its very best, is a great value, therefore the choice it is not an issue. The informed consumer is seeking, purchasing and enjoying high quality coffee at a reasonable price despite a recessionary environment.
When I see so called “fine dining” and supposedly “high quality casual dining” establishments buying low quality, low price coffee, it makes no sense. They are terribly out of touch with the consumer.
People are still eating out, just maybe not as often. But when they do it has to be spot-on. And if they finish with a lousy cup of coffee, these days there is minimal forgiveness for preaching quality, yet brazenly having bought on price, which sadly many establishments have done.
The businesses who are committed to quality, and take that path when the road forks, are being rewarded with loyalty. And customer loyalty is priceless.