Derrick Yarbough

Household financial outlook declines over six-month period; consumers plan lower spending to address persistent debt concerns, budget pressure, financial anxiety Perception of fast-food value records biggest six-month decline among restaurant categories; fine dining only restaurant category to increase value perception Consumers reluctant to trade down to cheaper food or restaurants; cutting back on eating out, ordering take out as menu price increases outpace inflation Younger consumers...

Consumer debt is rising, but rather than trading down, diners are reducing visits and prioritizing dine-out occasions. Steady price hikes are hitting fast food and casual dining restaurants the most—over a quarter of consumers say QSR offerings have declined in value.

 Find out more about Lexology or get in touch by visiting our About page. Register To view this article you need a PDF viewer such as Adobe Reader. If you can't read this PDF, you can view its text here. Go back to the PDF . USA August 28 2024 THE GREAT DINING TRADE-UP Restaurant operators evolve products and services as ideas around ‘value’ shift 2 • Consumer debt is rising, but rather than trading down, diners are reducing visits and prioritizing dine-out occasions.