Research: Fewer but Still Significant Number of Consumers Cutting Back on Dining Out
42% dined out less in 2009, while 46% are eating home-cooked meals more often, says a new study on consumer shopping behavior.
-- Restaurants & Institutions, September 30, 2009
[PRESS RELEASE] CLEVELAND, OH--(Marketwire - 09/30/09) - One year after the Lehman Brothers collapse sent the stock market into a tail spin and a subsequent increased climb in the unemployment rate, the American workforce's outlook on the economy is brighter, yet its mindset continues to show caution.
In a review of BIGresearch's CIA-Trends from 2007 to 2009 by WorkPlace Media, a marketing solutions firm that monitors the shopping behavior of the country's workforce, data shows that increased confidence doesn't mean a quick return to a greater focus on wants or to previous rates of discretionary spending on things such as dining out.
Working Consumers Sep '07 Sep '08 Sep '09
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Confident/Very confident in the economy 43.6% 29.4% 33.4%
More practical in purchases 47.2% 56.9% 56.4%
Focus more on needs vs. wants 52.8% 62.2% 59.4%
Reduced dining out 35.9% 53.7% 41.6%
Source: BIGresearch, Consumer Intentions and Actions Trends
As a result of saving money through reduced dining out, the 2009 survey shows that nearly half (46.1%) of workers report eating home cooked meals more often, suggesting that saving money through eating habits remains high.
"As consumers start to migrate toward their own kitchens, restaurant marketers need to find ways to attract new customers, nurture loyalty, and appeal to the economy-conscious mode," said Dan Wheeler, WorkPlace Media's Executive Vice President and Restaurant Category Leader.
Indeed, the very reason that working consumers are drawn to eating out -- convenience, convenience, convenience -- bodes well during cost-cutting times for consumer packaged goods companies who produce on-the-go meal solutions.
"Working consumers, like all consumers, are looking for ways to save money, and some have done this through decreased dining out. Yet, the workforce has the added element of finding meal solutions that not only save money, but also complement their rushed mornings and hectic evenings," said Stephanie Molnar, CEO of WorkPlace Media. "Therefore, many are meeting these needs through simple, portable products that are great for meals and snacks which can be eaten on the way to work or while sitting at a desk."
About WorkPlace Media:
WorkPlace Media is a national media company that delivers superior ROI for the world's most prestigious brands by helping them reach consumers at work. Additionally, the company conducts ongoing research into the attitudes and purchase behavior of this valuable, largely untapped consumer segment through regular polls and surveys among their network of over 920,000 businesses representing over 64 million working consumers. (www.workplacemedia.com)
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