Consumers to cut back on restaurant spending — even at QSRs
High prices are pushing consumers away from dining out in an effort to cut costs.
That’s according to new data released by SmartSense by Digi, an Internet of Things (IoT) Sensing as a Service solutions provider, which noted that 66% of consumers are cutting back on dining overall as 59% of consumers report worsening economic conditions over the past six months.
The most common type of restaurant consumers plan to curb spending at is full-service restaurants, with 78% reporting that they plan to do so. Nearly seven-in-10 (69%) say they will decrease spending at fast-casual restaurants, primarily fast counter service locations with customizable order options.
Study: Consumers to cut back on restaurant spending — even at QSRs | Chain Store Age