PORT WASHINGTON, NY, August 23, 2007–American consumers continue to experience skyrocketing gasoline prices, which reached an all-time high in May at $3.19 per gallon. Coinciding with the rise in gas prices, there has been a slowdown in per capita visits to restaurants. According to leading consumer and retail information company The NPD Group, consumers report going out to eat less, especially at casual dining and family-style restaurants. Instead, they say they are opting to eat at home more, citing “cheaper prices” as the primary factor.
NPD’s data shows that one quarter of consumers say they are visiting quick-service restaurants less frequently and one-third of consumers say they are visiting casual dining and family-style restaurants less frequently. Instead, these consumers say they are choosing to eat at home more often. In fact, 42 percent of people who are visiting quick-service restaurants less say they now eat at home more, while half of consumers who went to casual dining and family-style restaurants less say they now eat at home more.
Motivations for visiting restaurants less frequently differ by restaurant type. NPD asked its panelists why some consumers may visit quick-service and casual dining restaurants less often now than previously. While the high price of gasoline was a popular response, the top reason for eating at home more was consumers’ belief that it is cheaper. Also, by eating at home, quick-service consumers believe they are getting “more healthy options” and “better quality food.”
About The NPD Group, Inc.
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,600 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, commercial technology, consumer technology, entertainment, fashion, food and beverage, foodservice, home, office supplies, software, sports, toys, and wireless. For more information, visit www.npd.com.