#United States #Atlanta #economic trends #Popmenu #Consumer Spending

Overview

Recent findings from Popmenu reveal significant shifts in consumer spending habits among U.S. households amid growing economic uncertainties. With rising tariffs and geopolitical tensions influencing the marketplace, many Americans are reevaluating their discretionary expenses. Over two-thirds of respondents reported a desire to cut back on personal spending across various sectors, particularly dining and retail.

Spending Trends

Average Weekly Expenditures

According to the study, U.S. consumers are currently spending an average of $115 weekly on restaurant outings and approximately $235 on grocery purchases. With economic forecasts suggesting the possibility of a recession, 75% of participants expressed concern regarding the financial outlook for the country this year.

Areas of Expense Reduction

Analysis of consumer priorities showed that the majority are scaling back in specific categories:
1. Restaurants: 61% of consumers noted a reduction in dining out.
2. Clothing: 52% said they are buying new clothes or shoes less frequently.
3. Entertainment: 49% are cutting down on entertainment activities.

Other categories seeing decreased expenditure include travel, hobbies, streaming subscriptions, and personal grooming.

Restaurant Preferences

Further insights from the survey indicate that the majority of Americans prefer quick-service restaurants, with:

• - 69% favoring fast-food options (e.g., McDonald's, Culver's).
• - 47% opting for fast-casual establishments like Chipotle or Panera Bread.
• - Casual dining venues such as Applebee's or Chili's were chosen by 42% of respondents.

Among the dining choices, takeout has become increasingly popular, appealing to 44% of diners who prefer convenience over dining in, where delivery fees can add to costs.

Summer Spending Outlook

Notably, as summer approaches, 44% of consumers expect to further reduce their spending on restaurants compared to the previous summer, while only 18% anticipate increasing it. This trend signals a cautious approach to discretionary spending in the wake of rising food prices and overall inflation.

Grocery Shopping Strategies

In response to escalating grocery costs, consumers are adopting various tactics to manage their food expenses:

• - 49% report purchasing cheaper or generic brands.
• - 47% are buying fewer snacks.
• - 43% aim to stick to essential items only.
• - 43% are utilizing coupons to cut costs.

As consumers become more selective regarding their dining and grocery habits, the competition intensifies among restaurants and retailers to attract and maintain customer loyalty. Brendan Sweeney, CEO of Popmenu, emphasizes the importance of engaging consumers through digital avenues and offering financial incentives as essential for survival in this volatile market.

Conclusion

The Popmenu study sheds light on the fiscal adjustments many Americans are making in response to economic challenges. With a continued focus on necessary expenditures and cautious spending, both the restaurant industry and grocery retailers must adapt strategies that meet evolving consumer preferences while fostering loyalty.

About Popmenu

Founded to enhance restaurant profitability, Popmenu's innovative technology solutions serve over 10,000 restaurants. The platform integrates a suite of digital marketing tools, online ordering, and insights on guest preferences, paving the way for restaurants to navigate this challenging economic landscape successfully. For more details, visit popmenu.com.