Understanding the trends of restaurant consumption and predicting and preparing for changes are very important in the restaurant industry, which has a high rate of start-ups and closures. For modern people living in the Singlelife generation, time is like money, preferring instant relationships and ...
Understanding the trends of restaurant consumption and predicting and preparing for changes are very important in the restaurant industry, which has a high rate of start-ups and closures. For modern people living in the Singlelife generation, time is like money, preferring instant relationships and becoming a generation familiar with online exchanges. Accordingly, consumption trends for "one-person consumption," "individual consumption," "experience consumption," "value consumption" and "mobile consumption" are drawing attention this year. Previously, if it was a cost-effectiveness consumption method that refers to price-performance, it has changed to a cost-effectiveness consumption method that seeks satisfaction over price. However, convenience is one of this year's trends in Trend Korea 2020. Currently, consumers value experience and want to do many things, but they are suffering from a lack of time, so they are setting new consumption standards for convenience and premium services that save effort and time. This consumption propensity is greatly affecting the development of food culture, restaurant franchise, and sales growth.
In this study, the effect of convenience consumption trend on menu production change and purchase intention was analyzed. Through this, the concept of convenience consumption trend will be established, and by seeking ways to change menu production, the company will promote the intention of purchase and present it as a useful basic data for boosting sales in the restaurant franchise industry.
Literature research and empirical research were conducted to achieve the purpose of research and to identify the results thereof. In the literature study, concepts and sub-factors were organized through domestic and foreign literature and prior research on convenience consumption trends, menu production changes, and purchasing intentions, and the basic framework was set for empirical analysis.
For the demonstration analysis of this study, a survey was conducted on consumers who had experience using convenience services at restaurant franchises in Gangneung and Seoul with prior questions. The survey period was 31 days from August 1, 2020 to August 31, 2020, and a total of 305 questionnaires were distributed and 305 were recovered, of which a total of 300 were used for empirical analysis, except for five unfaithful or inappropriate questionnaires. The SPSS 21.0 program was used for statistical analysis of survey data and frequency analysis was conducted to identify the demographic characteristics of respondents. The exploratory factor analysis and reliability analysis were performed to verify the validity and reliability of each measurement item. In addition, for correlation analysis and hypothesis testing, multiple regression analysis and medial regression analysis were performed to identify the relationship between variables prior to hypothesis testing.
The analysis results of this study can be summarized as follows.
First, convenience consumption trend will have a significant effect on franchise menu production change. As a result of the verification of the research theory, it has been shown that among convenience consumption trends, cost-reducing consumers have a significant positive influence on menu development and price acceptance, while price sensitivity and packaging materials have a significant negative impact. Latency has been shown to have no significant impact. In addition, convenience factors have been shown to have a significant positive effect on price sensitivity and packaging materials have a significant negative impact. It has been shown that it has no significant impact on menu development, price acceptance and waiting time. These results showed that consumers who were willing to accept the costs except waiting time, while consumers who sought convenience preferred convenience over quality or commodity menu development. The fact that both factors dislike longer waiting times suggests that modern people are suffering from a lot of time shortages and are trying to buy time with money.
Second, the change in menu production will have a significant effect on the intention of purchase. As a result of the verification of the research hypothesis, menu development, price acceptance, price sensitivity, and packaging materials, excluding waiting time, have a positive effect on purchase intentions. As a result, they have no intention of buying it if waiting time is longer.
Third, convenience consumption trend will have a significant effect on purchasing intention. Both cost reduction and convenience pursuit have a positive effect on the intention of purchase.
Fourth, the change in menu production will bridge the relationship between convenience consumption trend and intention of purchase. The research hypothesis, "is used to analyze the influence of menu production change between convenience consumption trend and intention of purchase." As a result of verification, menu development, price acceptance, and packaging materials have partial selling effects between cost reduction and purchase intention, and price sensitivity and waiting time have no mediated effect. Between the pursuit of convenience and the intention of purchase, price sensitivity has been shown to have a partial sale effect, and menu development, price acceptance, packaging materials, and waiting time have no mediated effect. These results show that consumers who reduce costs make purchases even if the price rises accordingly when the menu is developed, but those who demand convenience first consider convenience regardless of the quality or quality of the new menu and decide whether to purchase it or not according to the price. However, if the waiting time is longer, they do not buy it because they think the convenience consumption trend does not meet.
There have been many studies related to consumption trends, but prior research based on convenience and consumption trends is insufficient. Thus, this study sets up the concept and sub-factor of the fast-changing consumption trend, the 2020 consumption trend, the consumption trend. In addition, the purpose is to help boost sales of restaurant franchises by analyzing changes in menu production and intention of purchase.
Understanding the trends of restaurant consumption and predicting and preparing for changes are very important in the restaurant industry, which has a high rate of start-ups and closures. For modern people living in the Singlelife generation, time is like money, preferring instant relationships and becoming a generation familiar with online exchanges. Accordingly, consumption trends for "one-person consumption," "individual consumption," "experience consumption," "value consumption" and "mobile consumption" are drawing attention this year. Previously, if it was a cost-effectiveness consumption method that refers to price-performance, it has changed to a cost-effectiveness consumption method that seeks satisfaction over price. However, convenience is one of this year's trends in Trend Korea 2020. Currently, consumers value experience and want to do many things, but they are suffering from a lack of time, so they are setting new consumption standards for convenience and premium services that save effort and time. This consumption propensity is greatly affecting the development of food culture, restaurant franchise, and sales growth.
In this study, the effect of convenience consumption trend on menu production change and purchase intention was analyzed. Through this, the concept of convenience consumption trend will be established, and by seeking ways to change menu production, the company will promote the intention of purchase and present it as a useful basic data for boosting sales in the restaurant franchise industry.
Literature research and empirical research were conducted to achieve the purpose of research and to identify the results thereof. In the literature study, concepts and sub-factors were organized through domestic and foreign literature and prior research on convenience consumption trends, menu production changes, and purchasing intentions, and the basic framework was set for empirical analysis.
For the demonstration analysis of this study, a survey was conducted on consumers who had experience using convenience services at restaurant franchises in Gangneung and Seoul with prior questions. The survey period was 31 days from August 1, 2020 to August 31, 2020, and a total of 305 questionnaires were distributed and 305 were recovered, of which a total of 300 were used for empirical analysis, except for five unfaithful or inappropriate questionnaires. The SPSS 21.0 program was used for statistical analysis of survey data and frequency analysis was conducted to identify the demographic characteristics of respondents. The exploratory factor analysis and reliability analysis were performed to verify the validity and reliability of each measurement item. In addition, for correlation analysis and hypothesis testing, multiple regression analysis and medial regression analysis were performed to identify the relationship between variables prior to hypothesis testing.
The analysis results of this study can be summarized as follows.
First, convenience consumption trend will have a significant effect on franchise menu production change. As a result of the verification of the research theory, it has been shown that among convenience consumption trends, cost-reducing consumers have a significant positive influence on menu development and price acceptance, while price sensitivity and packaging materials have a significant negative impact. Latency has been shown to have no significant impact. In addition, convenience factors have been shown to have a significant positive effect on price sensitivity and packaging materials have a significant negative impact. It has been shown that it has no significant impact on menu development, price acceptance and waiting time. These results showed that consumers who were willing to accept the costs except waiting time, while consumers who sought convenience preferred convenience over quality or commodity menu development. The fact that both factors dislike longer waiting times suggests that modern people are suffering from a lot of time shortages and are trying to buy time with money.
Second, the change in menu production will have a significant effect on the intention of purchase. As a result of the verification of the research hypothesis, menu development, price acceptance, price sensitivity, and packaging materials, excluding waiting time, have a positive effect on purchase intentions. As a result, they have no intention of buying it if waiting time is longer.
Third, convenience consumption trend will have a significant effect on purchasing intention. Both cost reduction and convenience pursuit have a positive effect on the intention of purchase.
Fourth, the change in menu production will bridge the relationship between convenience consumption trend and intention of purchase. The research hypothesis, "is used to analyze the influence of menu production change between convenience consumption trend and intention of purchase." As a result of verification, menu development, price acceptance, and packaging materials have partial selling effects between cost reduction and purchase intention, and price sensitivity and waiting time have no mediated effect. Between the pursuit of convenience and the intention of purchase, price sensitivity has been shown to have a partial sale effect, and menu development, price acceptance, packaging materials, and waiting time have no mediated effect. These results show that consumers who reduce costs make purchases even if the price rises accordingly when the menu is developed, but those who demand convenience first consider convenience regardless of the quality or quality of the new menu and decide whether to purchase it or not according to the price. However, if the waiting time is longer, they do not buy it because they think the convenience consumption trend does not meet.
There have been many studies related to consumption trends, but prior research based on convenience and consumption trends is insufficient. Thus, this study sets up the concept and sub-factor of the fast-changing consumption trend, the 2020 consumption trend, the consumption trend. In addition, the purpose is to help boost sales of restaurant franchises by analyzing changes in menu production and intention of purchase.
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