It’s that time of the year when people make promises to themselves or, thanks to social media, publicly declare their plans to do something different in the new year. Whether it’s to accomplish a goal or break a bad habit, the new year offers us a chance to make a fresh start.
Unless you’re my husband who declared, “my only resolution is there are no resolutions,” often New Year’s resolutions involve improving one’s health–eating better, exercising more, drinking less–and finances–saving more, buying less. These types of resolutions can have a direct impact on restaurants. However, people have been making and breaking New Year's resolutions since the time of Babylon, so how should restaurants factor in what are often short-lived changes in lifestyle?
Technomic recently asked 1,000 consumers if they’re making New Year’s resolutions about dining out, and 59% plan to make some changes in their dining habits in 2023.
Consumers are looking to tighten their belt in more ways than one, however, resolutions are not always about deprivation.
As expected, consumers are most likely to say they’ll order healthier meals in 2023. While strict diets or intense exercise routines tend to be the most unsustainable resolutions, it doesn’t mean that operators should just write off January and wait for their customers to fail. Operators should be meeting customers where they are by featuring healthier items early in the year and also promoting healthy swaps, such as substituting a creative vegetable side for a fried option, especially as willpower starts to wane in February.
Nearly a quarter of consumers (24%) say they plan to try new foods and beverages in 2023, which jumps to 41% for consumers ages 18-24. Early in the year, especially as traffic declines along with the temperatures, is an ideal time to feature unique limited-time offers to attract those who resolved to be more adventurous eaters in the new year.
Lastly, it wouldn’t be a Technomic Take if I didn’t talk about inflation. About a quarter of consumers say they are planning to spend less money dining out in 2023. Although inflation is expected to slow in the coming year, prices will remain elevated which will continue to impact consumer spending habits. As with other resolutions, it’s the younger consumers driving the data. They are both more hopeful and likely to make resolutions and are more price-conscious given lower incomes. Operators should consider their guest demographics, as well as those they’re targeting when thinking about how to increase value perceptions and whether to offer discounts or deals, especially in the early part of the year.
As for me, I’m only making one resolution, and that’s eating more pizza in 2023. It’s a bold move, but I’m confident I have the discipline to meet my goal. Happy New Year from Technomic!
For more information, please reach out to Technomic at info@technomic.com or technomic.com. Technomic is a sister company of Restaurant Business.