A new report from marketing insights firm Acosta shows that consumers are feeling the bite of inflation and are responding by dining out less or choosing more affordable restaurants and meal options.
In its foodservice-specific research report based on online surveys of shoppers, Acosta found that 54 percent of U.S. consumers were dining out less frequently due to inflation.
“Consumers are feeling the pinch of inflation and reacting accordingly. To continue participating in dining out activities, many are sharpening their focus on costs,” Travis King, President of CORE Foodservice, a sales agency that partners with Acosta, said in a statement.
About one-third of polled consumers said higher prices were driving them to spend less, including by ordering less expensive menu items, opting for cheaper restaurants, or hunting for deals….