Cost-of-Living Impact on Eating Out - Consumer Survey Insights

Cost-of-Living Impact on Eating Out - Consumer Survey Insights

Summary

This report is part of the GlobalData Case Study report series, which analyzes trends explored on GlobalData's TrendSights Map. The consumer insight offered throughout the report is drawn from GlobalData's Q4 2022 global consumer survey- a quarterly survey designed to capture consumer sentiment as it evolves throughout the year.

Throughout 2022 H2, consumers have continued the trend of eating out less. Between 2022 Q3 and Q4, the ratio between diners who wish to continue/start/more frequently eat out and those who wish to cut back on eating out has been consistent. This decline in footfall highlights the importance for brands to align closely with consumer demand to maintain repeat visits.

Scope

• Brands must acknowledge that many consumers are eating out less due to a variety of reasons, one being the cost-of-living crisis.
• Brands must ensure that they align closely with demand from younger generations. Brands must consider the demand from older generations, who are more likely to be discount-focused than younger generations.
• The cost-of-living crisis has influenced consumer purchase behavior around the world, however, affordability has affected consumer choices most in the Asia-Pacific region.

• Understand the relevant consumer trends and attitudes that can drive and support innovation and brand strategy. - Access valuable strategic take-outs to help direct decision-making and inform new product development.