From supply and employee retention issues caused by the pandemic to inflation concerns and soaring gas prices, the restaurant industry has been in flux for nearly three years.
This report provides timely insights into this fast-evolving industry, including:
From supply and employee retention issues caused by the pandemic to inflation concerns and soaring gas prices, the restaurant industry has been in flux for nearly three years. This report dives into the restaurant and dining industry, looking at current and emerging market trends and shifts in consumer behaviors and preferences directly impacting this industry.
KEY STAT: Gen Z adults are 2x more likely than Gen X to dine out or order take-out three or more times a week.
Three out of four adults go out to eat or order take-out at least once a week. With a quarter saying three or more times a week. Those dining out more frequently skew younger. In fact, 42% of Gen Z and 30% of Millennials say they dine out three or more times a week.
Diverse menu options and quality ingredients are what consumers value most when dining out, but upscale diners also care about the atmosphere and a higher level of service. Those that dine at casual restaurants are much more interested in price.
Making reservations with an online app, like OpenTable or Yelp, is preferred by those driving the marketplace, upscale diners, and young consumers.
Food delivery services saw a significant surge during the pandemic; now, nearly a quarter use it once a month or more. Unsurprisingly, this trend is mainly driven by younger consumers. Other trends, like online waitlists and using QR codes for dining, are also being adopted faster by young consumers. Although young consumers aren’t fans of online waitlists, they seem to like using QR codes.
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