Survey: Consumers spending less at restaurants
Americans are looking to not only spend less during restaurant visits, but also hope to dine out less frequently this year, according to a survey by AlixPartners. It polled 1,000 consumers about their current and planned frequency of dining occasions across convenience stores, restaurants and ready-to-eat grocery.
The survey, which also looked at expected spending on meals outside of the home, preferred types of restaurants and criteria for consumer preference in restaurant selection, found that consumers planned to spend $14.95 per meal this year compared to last year's $15.20.
The news wasn't great for fast casual restaurants with just 32 percent of millennials reporting that fast casuals were their preferred places to eat. That was a 5 percent drop from last year, and fast food is beating out the fast casual industry with an increase from 30 to 35 percent.
Those surveyed said spending less on dining out was because of other expenses and purchases.
"We're starting to see a shift in spending patterns among the Millennial generation, and restaurant operators need to be prepared," Global Co-head of AlixPartners Adam Werner said in the release.
The survey also revealed that technology may no longer have an influence on dining choices as 40 percent said they had never used any type of mobile technology linked to restaurants.
Results revealed that ready-to-go meals from the grocery store could be a threat to restaurants with 25 percent of consumers saying they helped to reduce meal spending, which has increased 6 percent since last year.