Restaurants: Consumers expected to spend 7% less on restaurants this summer
- InsightTrendsWorld
- May 5
- 6 min read
Why it's trending:
Inflation: Rising prices are affecting consumer spending habits, making them more cost-conscious and selective about where they spend their money.
Declining incomes: Many consumers are experiencing a decline in income, which is further reducing their disposable income and ability to spend on non-essential items like dining out.
Tariffs: The expectation of tariffs increasing prices is also contributing to consumer caution and reduced spending on restaurants.
Detailed Findings
69% of consumers are eating more at home to save money, with 85% of them citing cost savings as the primary reason.
Breakfast is the most common meal to be prepared at home, with 75% of consumers eating at home during the morning, compared to 67% for lunch and 68% for dinner.
Quick-service restaurants (QSRs) are seeing an increase in demand, with 26% of consumers eating more frequently at QSRs that offer promotions like buy-one-get-one offers and value meals.
Key Takeaway
The key takeaway is that consumers are becoming more selective and cost-conscious in their spending habits, recalibrating their budgets to prioritize savings and essential expenses.
Main Trend
The main trend is "Cost-Conscious Consumption", where consumers are prioritizing cost savings and value-driven promotions in their spending habits.
Description of the Trend
This trend involves consumers becoming more selective and cost-conscious in their spending habits, prioritizing value-driven promotions and cost savings. Consumers are seeking ways to reduce their expenses and make the most of their budgets.
Consumer Motivation
Consumers are motivated by the desire to save money and make the most of their budgets. They are seeking value-driven promotions and cost savings, and are more likely to prioritize essential expenses over discretionary spending.
What is driving the trend
The trend is driven by the ongoing impact of inflation, declining incomes, and concerns over tariffs on consumer spending habits.
Motivation beyond the trend
Beyond the trend, consumers are motivated by a desire for financial stability and security. They are seeking ways to reduce their expenses and make the most of their budgets, and are more likely to prioritize essential expenses over discretionary spending.
Description of consumers
The article refers to consumers who are likely:
Age: 18-67 years old
Gender: Both males and females
Income: Varies, but with a focus on middle to lower-income households
Lifestyle: Busy and tech-savvy individuals who value convenience, quality, and value-driven promotions.
Conclusions
The trend of cost-conscious consumption is expected to continue, with consumers prioritizing cost savings and value-driven promotions in their spending habits. Brands that offer value-driven promotions and cost savings are likely to benefit from this trend.
Implications for brands
Brands should prioritize value-driven promotions and cost savings to appeal to cost-conscious consumers. They should also consider offering promotions and discounts to drive sales and increase customer loyalty.
Implication for society
The trend has implications for society, as it highlights the ongoing impact of economic uncertainty on consumer spending habits. It also underscores the importance of value-driven promotions and cost savings in driving consumer behavior.
Implications for consumers
Consumers will continue to prioritize cost savings and value-driven promotions in their spending habits. They will also be more likely to seek out brands that offer convenience, quality, and value-driven promotions.
Implication for Future
The trend is expected to continue, with consumers prioritizing cost savings and value-driven promotions in their spending habits. Brands that adapt to this trend are likely to benefit from increased sales and customer loyalty.
Consumer Trend
"Value-Driven Consumption": Consumers are prioritizing value-driven promotions and cost savings in their spending habits.
Consumer Sub Trend
"Cost-Conscious Dining": Consumers are becoming more selective and cost-conscious in their dining habits, prioritizing value-driven promotions and cost savings.
Big Social Trend
"Economic Uncertainty": The ongoing impact of economic uncertainty on consumer spending habits is driving the trend of cost-conscious consumption.
Worldwide Social Trend
"Spending Recalibration": Consumers are recalibrating their budgets to prioritize savings and essential expenses, driving the trend of cost-conscious consumption.
Social Drive
"Financial Stability": Consumers are motivated by a desire for financial stability and security, driving the trend of cost-conscious consumption.
Learnings for brands to use in 2025
Prioritize value-driven promotions: Brands should prioritize value-driven promotions and cost savings to appeal to cost-conscious consumers.
Offer promotions and discounts: Brands should consider offering promotions and discounts to drive sales and increase customer loyalty.
Focus on convenience and quality: Brands should focus on offering convenience and quality to appeal to consumers who value these attributes.
Strategy Recommendations for brands to follow in 2025
Develop value-driven promotions: Brands should develop value-driven promotions that offer cost savings and convenience to consumers.
Invest in digital marketing: Brands should invest in digital marketing to reach cost-conscious consumers and promote their value-driven promotions.
Focus on customer loyalty: Brands should focus on building customer loyalty by offering promotions and discounts to loyal customers.
Final sentence
The trend of cost-conscious consumption is expected to continue, with consumers prioritizing cost savings and value-driven promotions in their spending habits.
What brands & companies should do in 2025
Brands should prioritize value-driven promotions and cost savings, and consider offering promotions and discounts to drive sales and increase customer loyalty. They should also focus on convenience and quality to appeal to consumers who value these attributes.
Final Note
Core Trend: Cost-Conscious Consumption - a trend where consumers prioritize cost savings and value-driven promotions in their spending habits, driven by economic uncertainty and a desire for financial stability.
Core Strategy: Prioritizing value-driven promotions and cost savings - a strategy that involves developing promotions and offers that provide value to consumers, while also driving sales and increasing customer loyalty.
Core Industry Trend: Shifting consumer spending habits due to economic uncertainty - a trend that highlights the ongoing impact of economic uncertainty on consumer spending habits, and the need for brands to adapt to changing consumer behavior.
Core Consumer Motivation: Desire for financial stability and security - a motivation that drives consumers to prioritize cost savings and value-driven promotions in their spending habits, and to seek out brands that offer convenience, quality, and value.
Final Conclusion
The trend of cost-conscious consumption is expected to continue, with consumers prioritizing cost savings and value-driven promotions in their spending habits. Brands that adapt to this trend by prioritizing value-driven promotions and cost savings are likely to benefit from increased sales and customer loyalty, and will be better positioned to succeed in a competitive market.
Core Trend: Cost-Conscious Consumption
Description
Cost-Conscious Consumption refers to a trend where consumers prioritize cost savings and value-driven promotions in their spending habits, driven by economic uncertainty and a desire for financial stability. This trend involves consumers becoming more selective and cost-conscious in their spending habits, seeking ways to reduce their expenses and make the most of their budgets.
Key Characteristics of the Trend (summary)
Prioritizing cost savings and value-driven promotions
Seeking convenience and quality
Increased focus on essential expenses over discretionary spending
Recalibrating budgets to prioritize savings and essential expenses
Market and Cultural Signals Supporting the Trend (summary)
Economic uncertainty and inflation
Declining incomes and reduced disposable income
Growing demand for value-driven promotions and cost savings
Increased focus on financial stability and security
How the Trend Is Changing Consumer Behavior (summary)
Consumers are becoming more selective and cost-conscious in their spending habits
Increased focus on essential expenses over discretionary spending
Growing demand for value-driven promotions and cost savings
Consumers are recalibrating their budgets to prioritize savings and essential expenses
Implications Across the Ecosystem (summary)
For Brands and CPGs: Brands need to prioritize value-driven promotions and cost savings to appeal to cost-conscious consumers.
For Retailers: Retailers need to offer promotions and discounts to drive sales and increase customer loyalty.
For Consumers: Consumers will continue to prioritize cost savings and value-driven promotions in their spending habits.
Strategic Forecast
Brands that prioritize value-driven promotions and cost savings will benefit from increased sales and customer loyalty.
Retailers that offer promotions and discounts will drive sales and increase customer loyalty.
Consumers will continue to seek out brands that offer convenience, quality, and value-driven promotions.
Final Thought
The trend of Cost-Conscious Consumption is expected to continue, with consumers prioritizing cost savings and value-driven promotions in their spending habits. Brands that adapt to this trend by prioritizing value-driven promotions and cost savings will benefit from increased sales and customer loyalty.
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