By Investment U:
By Jason Jenkins
A new Technomic report found that bakery-café chains are stealing market share from quick-service and casual-dining brands at a feverish pace.
The Bakery Café Consumer Trend Report reported that in 2008, only 43 percent of consumers had visited a bakery café, such as Panera Bread (Nasdaq: PNRA). This year, that figure shot up to 71 percent. Among that 71 percent, 72 percent visit at least once a month.
About the Technomic Report
Operators and suppliers use these types of reports to understand consumption behavior, identify purchase and traffic drivers, explore catering usage and size up the competition, which allows them to take advantage of growth and better compete.
Bakery-café patronage is increasing as consumers take a pass on traditional full-service restaurants to save a few bucks. On the other hand, they spend a little more money and trade up from fast-food restaurants for higher quality and healthier
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