Dining out still popular despite rising costs
This is particularly popular amongst millennials.
A survey report by global payments company Square revealed that eating out remains a popular social activity despite rising costs, with 44% of respondents saying the amount they dine out has increased over the last 12 months.
Alongside this, 49% say the amount they are willing to spend when they dine out has increased over the last 12 months, rising to 60% amongst millennials.
The research has also found the top boroughs for eating out are Hammersmith & Fulham (5.5 times per quarter), Camden (5.4), Sutton (4.8), Wandsworth (4.6), and Islington (4.6).
When it comes to getting customers to return to a restaurant, the most important factors are price and affordability (53%); consistent quality of food (52%); and service quality (47%).
Interestingly, service quality matters differently to different generations, with 54% of millennials citing this as an important factor, compared to only 40% of Gen Z, to whom price and consistent quality matter more.
Nearly half (46%) of respondents say they wouldn’t dine at a restaurant if there was a maximum seating time, and with word of mouth remaining the most popular way to find places to dine out (42%), restaurant owners need to consider how they can make their processes more efficient without causing friction with customers.
People also want to find different ways to dine out, as 48% say they love the idea of a supper club as a way to spend an evening.
Sustainability is coming up as a key factor to consider, with half (51%) of millennials saying they choose a restaurant based on whether it is farm-to-table, compared to only 17% of Boomers who say the same.
