Leisure and hospitality
Redefining social spending
Consumers are exhibiting caution in their social spending. Since our mid-year report in May 2024, the percentage of people planning to cut back on dining and drinking out has increased by 5%, reaching 35%.
Many consumers are adjusting their dining habits to align with their financial priorities, with a significant number planning to dine out less frequently and actively seek discounts or promotions to make outings more affordable.
Our research also highlights a resilient segment with 20% of respondents reporting no intention to cut back on dining experiences, up from 17% last year.
Thinking about the next 6 months, do you plan to reduce the amount you spend on eating/drinking out of the home, in any of the following ways?
of families plan to reduce their frequency of eating out, with their focus on managing household budgets and redirecting spending toward essentials or experiences.
of Baby Boomers do not plan to reduce spend on eating and drinking out, making them the least likely to change their habits.
Gen Z are the most likely to prioritise eating out. Social and lifestyle experiences remain more of a priority for this group.
Unlocking social spend
The rise in discount-seeking behaviour, particularly among families and Gen X, suggests that consumers are more selective with their spending, prioritising savings and deals.
Gen X are the most likely group to seek out special offers.
29% of consumers will seek out special discounts and offers, rising to 32% for those with families.
Venue choices
Restaurants are set to become the preferred choice of venue for consumers in 2025, a shift from previous years, where pubs have traditionally held that top spot.
