Findings:
Eating out remains a priority: Despite financial pressures, eating out is a top spending priority for 21% of Gen Z consumers.
Cost is a critical factor: Cost is the most important factor in Gen Z's dining choices, even more than taste.
Deals and discounts are influential: 42% of Gen Z consumers are influenced by deals and discounts when eating out.
Recommendations from friends and family are highly valued: 93% of Gen Z consumers trust recommendations from friends and family.
Social media plays a role in discovery: 48% of Gen Z consumers use social media to discover new restaurants.
Gen Z prefers takeout: 42% of Gen Z consumers prefer ordering takeout over dining out on a Friday night.
Key takeaway:
Gen Z values eating out and ordering takeout, but cost is a major consideration. Restaurants can attract this demographic by offering deals, discounts, and leveraging recommendations from friends and family and social media.
Trend:
Gen Z is a cost-conscious generation that values convenience and social recommendations when it comes to dining. They are also increasingly influenced by social media platforms like TikTok and Instagram when discovering new restaurants.
Consumers Addressed:
The primary consumers addressed in this report are Gen Z consumers in the United Kingdom and the United States.
Conclusions:
Gen Z is a valuable consumer segment for the restaurant industry, but their spending habits are influenced by cost and convenience. Restaurants that cater to these preferences and leverage social proof can successfully attract and retain Gen Z customers.
Implications for Brands:
Prioritize value for money: Offer deals, discounts, and promotions to attract price-conscious Gen Z consumers.
Leverage social proof: Encourage user-generated content and testimonials to build trust and credibility.
Cater to convenience: Offer convenient options like takeout and delivery to appeal to Gen Z's preference for staying in.
Embrace social media: Utilize platforms like TikTok and Instagram to reach and engage with Gen Z consumers.
Implications for Society:
The growing preference for takeout and delivery among Gen Z could have implications for the traditional dine-in restaurant experience. Restaurants may need to adapt their business models to cater to this shift in consumer behavior.
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