The recession is forcing consumers to cut back even more on dining out, particularly at higher-end restaurants, according to a new survey.
The study by market research firm Morpace Inc. found that 48 percent of U.S. consumers are eating out less often now than they did about six months ago, when the economy began its tailspin.
“By last September, more than one-third of consumers had reduced restaurant dining -- but now it's almost half the population,” said Kirsten Denyes, vice president of retail services at Morpace.
Fast-food chains, such as McDonald's, KFC and Taco Bell, are faring best, the study indicated, as consumers appear to be trading down to lower-priced restaurants. However, Denyes said one-third of customers have even cut back on their fast-food visits.
American Consumers dining out even less
Like to receive news like this by email? Join and Subscribe!
Join Our Telegram Channel for regular updates!
Highlighted Company
Related News
![J&J green paper, a Miami-Dade company, announces the implementation of its game-changing sustainable packaging initiative Janus® in partnership with arcos dorados, the largest MCDonald's independent franchisee in the world J&J green paper, a Miami-Dade company, announces the implementation of its game-changing sustainable packaging initiative Janus® in partnership with arcos dorados, the largest MCDonald's independent franchisee in the world](https://media.potatopro.com/arcos-dorados-mcdonald-1200.png?width=600&height=357&crop=center&mode=crop)
June 27, 2024