Consuming the facts, the evolution of dining out

Consuming the facts, the evolution of dining out

What’s in a name? What is it that sways a consumer to support a certain product, brand or service over another, and how have their spending habits changed in the last year? Is brand-protectionism dead and is the endangered high street still falling behind the allure of online shopping? 

With the uncertainty of Brexit, possible political divide and economic turmoil, understanding spending habits is more crucial than ever to not just survive but succeed in 2019. The era where the consumer wields more power than ever before. In order to help you follow the money, RSM has surveyed over 2,000 consumers to lift the lid on where exactly consumers are spending their pounds.

Cost-consciousness is paramount to consumers in 2019. While saving habits will remain similar to previous years, people are likely to spend less on many products and services in the next 12 months. Spending on holidays, gym memberships and hobbies will stay relatively stable, whereas there’s now a push to curb spending on going out to eat, experiences, takeaways and drink. 

Consumers expect living costs to have most impact on their disposable income in the next 12 months followed by Inflation and Brexit. It seems that millennials and Generation Z are upping their saving, yet not cutting back on some pleasures to the same extent as older generations.

Consuming the facts, the evolution of dining out - Long live the takeaway

Long live the takeaway

Despite more people becoming health-conscious, the humble takeaway is alive and kicking in the UK. A fifth of UK adults eat takeaways at least once a week or more often, with just over a third of Millennials and 29 per cent of Gen Z partaking in a, preferably recyclable container or two. A third of the adult population eat a take-away once or twice a month, compared to 20 per cent who never eat take away meals...
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The dry generation

Despite lower disposable incomes, our research shows that society still wants to remain social, with people seeing dining out as a major part of their lives. Yet the recent Brexit climate has not made everyone reach for more than one glass of wine. In fact, younger generations appear to be turning their backs on the pub, favouring restaurants, good food and good alcohol over a night on the pints...
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Consuming the facts, the evolution of dining out - The dry generation
Consuming the facts, the evolution of dining out - Premium is the new norm

Premium is the new norm

There appears to be a prominent difference in quality over quantity for younger generations and the argument for premium products as the new standard is increasingly strong. While Generation X and Y are shying away from the big alcohol fuelled evenings like their elders, they are making a conscious choice to choose luxury products...
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Protecting the pounds

Though consumers are becoming more conscientious about their spending, it doesn’t mean they are saving. Instead, their hard-earned cash is going on more lifestyle products such as gyms, with 900 of the 2,000 people surveyed stating they have a gym membership and most millennials planning to use it...

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Consuming the facts, the evolution of dining out - Protecting the pounds
Consuming the facts, the evolution of dining out - Guided by the stars

Guided by the stars

As consumers, we no longer rely on word of mouth when picking our next venue. Instead, we use trusted reviews and influencers. Millennials and Generation Z seem less concerned about the range of food and drink on offer, as they do about the brand and trying something ‘new’. Is it time for operators to collaborate and harness the star power that is already helping to sell millions of products on social media apps such as Instagram and Facebook. How can you use influencers to grow your business and how do you also protect it from negative feedback?

Fear of fraud

The threat of fraud is always prevalent, especially as we move into the contactless era. Any breach will destroy trust in a brand, and it will impact future spending habits, ‘Consumers have a fear of fraud, so businesses must realise that any headline data breach will impact consumer spending. It doesn’t really matter what it is, you just lose the trust instantly. A company’s procedures and buffers are what keeps people safe, or should do’...
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Consuming the facts, the evolution of dining out - Fear of fraud
Consuming the facts, the evolution of dining out - Will consumers forgive us

Will consumers forgive us

After several scandals in 2018, brand sustainability has been a hot topic of conversation across the age groups. In the past brand loyalty was a powerful advertising tool, yet in the last few years this has diminished rapidly. Nearly 60 per cent don’t see brands as an important factor when purchasing. Following this, over 50 per cent say negative press coverage concerning a brand would prevent them from purchasing their products again. Finally, nearly 75 per cent say they would avoid an outlet which had been reported for hygiene or food poisoning...
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