As they jockey for consumers’ precious dollars this holiday season, restaurants have had to adjust their business approach.
The holidays are hugely important for local restaurants, with families and friends in festive moods and companies celebrating the season with employee parties.
The difference this year, with shaky economic conditions taking a bite out of customers’ wallets, is that restaurants have had to work around the consumers’ needs much more than before.
“It used to be the restaurant would talk to the company, get the number of people attending the party and say, ‘OK, that’ll be $70 per person,’ ” said Celeste Corsaro, owner of Baltimore Eats Magazine. “Now it’s, ‘What’s you budget? How many people? What do you want to serve?’ ”
The restaurant industry has slowed from month to month this year as consumers continue to eat out but have altered their spending habits.
“I was out in Little Italy last week, and the area was packed on a Thursday night — you wouldn’t be able to tell that people are pulling back,” Corsaro said. “People are still going out, they’re just not getting the bottle of wine or the really expensive entree.”
At Pazza Luna in Locust Point, General Manager Lydia Fitzsimmons said she’s noticed consumers are looking for value more than ever. The restaurant offers various dinner deals throughout the week, including a $10 pasta dinner on Wednesdays and half-price wine on Thursdays.
“On nights we offer our specials, we’re packed,” Fitzsimmons said.
The restaurant industry as a whole has fallen on tough times, with the National Restaurant Association’s Restaurant Performance Index falling to a record low in September, the most recent outlook on the industry.
“Nearly two out of three restaurant operators reported negative same-store sales and traffic levels in September, while 50 percent expect their sales in six months to be lower than the same period in the previous year,” said Hudson Riehle, senior vice president of research and information services for the restaurant group.
One Baltimore restaurant is looking to capitalize on the Black Friday rush. At Ruth’s Chris Steak Houses throughout the region, diners who purchase an entree on Friday or Saturday will receive a free petite filet or New York strip entree, about a $20 to $30 value.
