Recently, my family (two adults and one 10 year old) “broke” our record when we paid $91 for breakfast of egg benedicts, pancakes, and fine coffee at a popular cafe. While we were mentally (and financially) prepared for that enjoyable meal, it seemed quite clear that dining out and entertaining can be costly. Especially when we are only free on peak periods – Friday evenings, Saturdays and Sundays.
Catering to families can be a highly profitable venture for any consumer facing business. Don’t believe me? Consider the following research commissioned in 2005 by Family Matters! Singapore and MCYS:
– Households with young children collectively spend $1.5 billion annually
– They tend to shop as a family nearly 2/3 of the time