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Insight of the Day: 78% of Americans Agree Higher Menu Prices Have Made Dining Out More Challenging This Year

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.

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