Key Points:
Price Sensitivity: 78% of Americans find dining out more challenging due to higher prices. This leads to:
Less dining out: 41% eating out less frequently.
Fewer delivery orders: 45% reducing food delivery.
More home cooking: 60% cooking at home more.
Seeking Value: Consumers are heavily motivated to dine out by:
Promotions: 86% find these a major incentive.
Coupons/Discounts: 81% are attracted by these.
Loyalty Programs: 65% find value in these.
Happy Hour Deals: 47 % find these attractive.
Implications
Restaurants need to focus heavily on providing value-oriented offerings to keep customers coming back despite inflation. This includes promotions, discounts, loyalty benefits, and happy hour specials.
The trend toward less dining out and more meals at home could present opportunities for grocery loyalty programs.
Comments