Using Female Purchasing Power To Grow Your Restaurant

Posted by Karen Erdelac on Nov 21, 2016

Using Female Purchasing Power To Grow Your RestaurantAccording to several economic sources women account for 85% of consumer spending.  With that type of purchasing power it is in a restaurants best interest to make their business as appealing to women as possible.  In general, women tend to seek out healthier food options much more frequently than their male counterparts.  They also tend to be more willing to try newer concept restaurants and foods.  Fresh quality ingredients as well as the ability to customize their order rank high in importance to women consumers.  Here we’ve outlined some of the best ways to appeal to the purchasing power of women.

Concept Shops

Statistics show that women are far more likely to visit concept restaurants.  This can include those that promote organic, gluten free and artisanal dishes.  Restaurants that haven’t already adapted these themes would be smart to do so.  Keeping your traditional favorites on the menu is a good idea but seeking out the best ingredients to create them will make for better quality food and a broader customer base.  Make your new offerings well known and stay committed to a more healthy and diverse menu.

Plant Based Protein

Plant based proteins are becoming a sought after part of a healthy menu.  The reasons for this have to do with reduced calorie intake and sustainability.  Only about 3.3% of Americans are vegetarian but many others are looking for meat alternatives whenever possible.  Deriving protein sources from plants and using them on their own or as ingredients for more complex dishes is becoming common practice.  With the health risks of red meat becoming more apparent it’s no surprise women are seeking out healthier protein sources.

Healthy Desserts

Using Female Purchasing Power To Grow Your RestaurantWhen we talk about healthy desserts we’re not exactly saying lower calorie desserts, but ones that are made with fresh and high quality ingredients.  This could include supplementing your ice cream selection with frozen yogurt and using organic chocolate and fruits in your pies and cakes.  Small differences like this can impact the decision of whether or not the dessert is “worth the calories”.  It’s also a good idea to include whole foods on your dessert menu such as fruits and nuts.

Smaller Portions

While using higher quality ingredients can increase inventory costs they can be offset with another trend that is becoming more popular; smaller portions.  This may seem counterintuitive but with a society becoming increasingly health conscious it will not have the negative impact some may think.  While you can still offer your traditional large meals, you should have options for smaller cuts of meat, bite sized desserts and lower calorie side dishes. 

Healthy Drink Options

Americans have become aware that diet soda is not really a healthy drink alternative.  While lower calorie options should be made available, offering drinks that provide health benefits are the more inviting choice.  Fresh squeezed juices, low calorie smoothies and infused water are extremely popular and can provide a significant profit margin for restaurant owners.  Innovative owners are taking this a step further by offering alcoholic beverages that also provide nutritional value.

Nutritional Information

While some states are beginning to require nutritional information to be included on menus, proactive restaurateurs are taking the initiative to make theirs well known.  Restaurant food has developed a reputation as being higher calorie than the same dish cooked at home.  Being up front about the amount of calories and nutritional value of your meals will help patrons make more informed choices.  This is very important for those that are health conscious and that transparency can breed loyal customers.

A restaurant cash advance from Quikstone Capital Solutions can help your business respond to market shifts, grow and profit. The upfront costs for finding new vendors, upgrading your ingredients and marketing your new menu items can be significant but well worth the investment.  If you’re looking for the cash flow to make this possible consider a merchant cash advance from Quikstone Capital Solutions

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Topics: Restaurant