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Insight of the Day: Popmenu Survey: Consumer Spending For On-Site Dining Declines

Key Takeaways:

  • Reduced Restaurant Spending:  Consumers are spending less of their food budget on restaurants due to inflation, with the average dropping from 40% in 2022 to 30% in 2024.

  • Increased Competition: Restaurants are facing intensified competition for customers as consumers become more selective with their spending.

  • Consumer Priorities: Consumers prioritize value, with 52% looking for restaurants that offer larger portions for leftovers. They are also actively researching menus online to assess cost and value before dining out.

  • Tipping Trends: While many consumers are dining out as frequently as before, they are tipping less. This may be due to financial constraints or a growing awareness of tipping fatigue.

Summary:

The Popmenu survey reveals a shift in consumer dining habits due to inflation. While Americans still enjoy dining out, they are spending less on restaurants and prioritizing value. This trend has led to increased competition among restaurants, with those offering budget-friendly options and engaging with customers online faring better. Additionally, tipping is declining as consumers try to save money. Restaurants need to adapt by focusing on value-driven promotions, leveraging digital channels, and potentially rethinking their tipping policies to remain competitive in this changing landscape.

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