By Mae Velasco, Associate Editor
The restaurant industry is so saturated with openings, there has been talk of the "bubble" that is about to burst. A shortage of cooks and an abundance of new concepts — along with rising rent, increasing minimum wages, and a more demanding customer audience — is putting more pressure than ever on brands to stay relevant.
This challenge is no doubt much easier for a celebrity chef to tackle, considering they "aren't just people — they're majorly successful brands," as Cornell University School of Hotel Administration professor Alex Susskind told journalist Eileen Ogintz. With so many options to choose from, how many guests are restaurant risk-takers and how many prefer a brand that is tried-and-true?
"Having a reputation and a clientele that's developed over time really helps. It's a big advantage.... People want an experience that is proven. They come because they like the brand," Charlie Palmer, the brains behind the popular Aureole in New York, said to Fox News.
“Celebrity chefs tend to come with media buzz,” Avery Fletcher, who teaches at the NYU School of Professional Studies, said in the same article. "The more people talking about the restaurant, positively, the more people will want to try it…Attention tends to beget more attention…and business.”
Celebrity chefs have shaped what consumers watch and what they eat, but perhaps celebrity status does not guarantee success. Millennials have shifted the market, as they are seeking a more authentic, unique experience at a more convenient price point. As a result, upscale concepts have moved to casualization, giving birth to a more laid-back sister restaurant.
“This is something which many of the older and more famous brands have had a hard time in providing, as formulas that have worked in the past no longer work today,” Anderson Pugash of The Dorian and Palm House said. Read More