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As consumer purse strings loosen, experts identify opportunities in Europe
July 25, 2011
Fern Glazer
As the U.S. economy moves slowly toward recovery, American consumers are feeling a bit more optimistic and are starting to open their wallets again at restaurants. But across the pond, consumers in many countries are still grappling with the impact of the economic crisis, and it’s having a dramatic effect on the restaurant industry, say officials at global market research firm The NPD Group.
The major European markets did show some early signs of improvement this year, buoying optimism about the potential for U.S. brands abroad, but for the restaurants already doing business there, 2010 was an unquestionably difficult year.
“When tough times started [in Europe] at the end of 2008, it hit the market relatively hard,” said Joche...
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