"FoodBusiness" news and stories

Despite the current economic downturn, the vast majority of Americans are still spending their money eating out. A recent article from USA Today explains that between 2007 and 2008 there was no change in the amount of people purchasing meals outside of the home. According to NPD Group, a marketing research firm, Americans bought 1% more meals at a restaurant in November of 2008 than November 2007.

As NPD vice president Harry Balzar states: "There hasn't been a recession in eating. We may postpone a car purchase or a new coat, but we won't postpone eating." The survey USA Today refers to deals with all kinds of eating out, whether it's at a three-star Michelin restaurant or McDonald's. I'd be curious to know how certain categories of restaurants are holding up through this economic decline. The article does point out that people are trying to save money and time, and, as a result, they are turning to "inexpensive takeout options."

Check out the poll below to let us know if your eating habits have changed.

This past Saturday's New York Times had an intriguing article on how Whole Foods is trying to overcome its nickname, Whole Paycheck. Considering the high food prices sweeping the entire nation, this attempt is crucial for the company's survival. Since its financial peak in 2006, Whole Foods' stock has dropped more than 70 percent. The market for organic foods and specialty foods is in trouble.

A report from TNS Retail Forward produced a survey last month that shows that 20 percent of shoppers have altered where they purchase groceries because of the economy. To make matters worse for Whole Foods, market researching firms, like the Hartman Group, say that consumers are less interested in organic foods.

In this current economic environment, what is Whole Foods doing to change its image as an overpriced grocery store?

1. Offering more discounts
2. Increasing lower-priced store brands
3. Advertising products they sell at a good value
4. Organizing budget-focused store tours
   

Do you think Whole Foods will be able to suppress its nickname Whole Paycheck?