Consumers putting value-for-money first, says Marcus Wareing

In the credit crunch market, value-for-money is more important to many consumers than provenance and seasonality, leading chef Marcus Wareing has warned.

Speaking at the annual Arena lecture, held by the industry networking body at the Hilton, Park Lane, Wareing also warned that a spate of discounting at the top end of the eating out market could be storing up problems.

Wareing split with longtime mentor Gordon Ramsay last year. He runs the two Michelin star Marcus Wareing at the Berkeley restaurant - which, as Pétrus, was part of the Ramsay restaurant empire.

Wareing told the Arena audience that "absolutely, value-for-money" is currently a key consideration for customers in London's fine dining market. His menus feature British produce such as Welsh suckling pig and Scottish lobster, and he said it was important to maintain the quality of produce while also offering good value.

He added that a current wave of discounting and 'two-for-one' offers by many of London's top restaurants could prove damaging in the longer term as it could be hard to restore full pricing.

Even so, this week's snow had led to more cancelled bookings than the credit crunch, said Wareing. Interviewed by BBC food and drink writer Nigel Barden, he also said he was sure he and Ramsey would sit down and talk again one day "over a cup of tea".

• The annual Arena Face to Face lecture will see ITN journalist Alistair Stewart interview Patrick Dempsey, managing director of Whitbread Hotels & Restaurants. The event takes place on Friday April 3 at the Dorchester Hotel, London. For more information go to Arena​