2020 Eatertainment Predictions: What’s in Store?

It’s a good time to be in the “eatertainment” industry.

CBRE recently released their annual “predictions” report, US Food in Demand Series - Restaurants November 2019 which found that: 

“Consumer demand is rising for more experience-rich recreation and dining options in retail properties. Consumers increasingly want food, drink and entertainment all in one place, creating ‘eatertainment’ destinations. About 70% of consumers prefer to visit eatertainment venues for group outings, rather than casual dining. And 21% of diners are willing to pay more at eatertainment venues than traditional bars and restaurants.”

To meet this growing demand, retail centers are seeking concepts like Punch Bowl Social in order to attract those groups who want something more — experiences — and are willing to pay more for it. Eatertainment destinations are the new anchor tenant, appealing to the demographic most desired by retail properties, promoting social connections, and serving as a key component of successful place-making. 

 The report went on to state:

“Eatertainment venues are revitalizing urban main streets and shopping centers in select markets by drawing traffic and consumers seeking high-quality service, diverse entertainment and unique dining experiences.”

While we can’t predict the future, we can predict what our consumers want. We can secure Punch Bowl Social’s place, both in the physical real estate sense, and through the social connections with our guests. 

We’re coming for you, 2020.