Diners are happy to pay top prices for good-quality steak

29 June 2011
Diners are happy to pay top prices for good-quality steak

Diners will pay more for steak than other dishes on a restaurant menu, research has revealed.

According to the survey, conducted on behalf of Knorr Bouillon, consumers will happily pay up to £5 more for a steak than for other menu items when dining out, providing operators with a great profit opportunity.

The research found that the average price diners are prepared to pay for a steak in a hotel or restaurant is just over £15.50, while in pubs it is £12.54. More than 40% of consumers, irrespective of the type of dining venue, said they would be willing to pay up to £17 for a great steak dish, and a further 20% were prepared to pay up to £21.

Nearly all of those questioned (96%) said they were likely to return to a restaurant where they had been served a great steak. However, 84% said they would be unlikely to recommend an establishment where the steak was unsatisfactory.

Richard Firth, Unilever Food Solutions channel marketing director, commented: "Never has the argument for serving great-tasting steak been more compelling. Consumer eating-out habits have changed over the past 18 months, with diners being more price conscious than ever.

"When eating out, customers are less likely to take risks with food they have not tried before and favourites, including steak, are a top choice."

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