If you gave your bank account a look right now, what percentage of it would you say was spent on restaurants?
For someone in the restaurant industry, the number likely wouldn't surprise them…but for those who aren't, the number might be a surprise and show that folks have been eating out a lot more than they used to. According to the U.S. Bureau of Labor Statistics, the amount of money spent on food “away from home” (vs. at home) has risen 94% since 2003.
Despite increasing food and energy prices and tighter budgets, U.S. consumers continue to actively support local restaurants with 58% stating that they are eating restaurant food more often this year compared to 2021. Recognizing financial hardships restaurants have endured, the majority of consumers stated that they are ok with restaurants raising menu prices—though value is top of mind as consumers keep a watchful eye on economic trends.
According to two nationwide, anonymous surveys by Popmenu, a leading innovator in digital marketing and ordering technology that works with over 10,000 independent restaurants and hospitality groups, restaurant meals remain an important part of consumer budgets.
When Popmenu asked 1,000 consumers who increased their restaurant spend this year why they were doing so, they responded as follows:
61% – I like the convenience.
43% – I want to support local restaurants.
36% – Grocery prices are so high, it’s more cost-effective to order from restaurants.
28% – I don’t have time to cook.
Is takeout or delivery, therefore, slowing down?
No. While fears around the pandemic continue to subside—resulting in a much-appreciated return to restaurant dining rooms— takeout and delivery remain a way of life.
In fact, 69% of consumers order takeout or delivery as often or more often than they did last year. The No. 1 cuisine consumers say they will always order from restaurants vs. cooking at home? Mexican, followed by seafood and sushi.
Consumers report understanding the significant challenges restaurants are facing and say they are willing to throw in a little extra to help restaurants out. They also welcome new technologies restaurants have implemented to serve guests.
Further results:
68% of consumers are ok with restaurants raising menu prices.
51% are ok with restaurants decreasing portion sizes.
45% are ok with restaurants adding a temporary inflation fee.
71% say restaurant technology, both online and on-premise, makes their guest experience better.
Brendan Sweeney, CEO and Co-founder of Popmenu says, “You can almost hear the rallying cry for restaurants as consumers do their part to support their neighborhood favorites in a precarious time. While mindful of their own household economics, 61% of consumers said they would pay more to keep restaurants open if a recession hits in 2022 or next year. That says a lot about how important restaurants are to their local communities and how much people rely on and empathize with them.”
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