Maybe people are just hungry.
That’s the best explanation for a pair of surveys from different industries on roughly the same topic, whether they would rather eat out or stay home and make their meal.
On one hand, we have a recent survey from the consulting firm 84.51, which found that two-thirds of shoppers want to eat more fruits and vegetables. And more than half, 54%, say they want to cook at home more often.
As it happens, 84.51 is the research arm of Kroger, one of the nation’s largest supermarket chains.
We found that survey fascinating, because we are also aware of another survey of consumers, from the National Restaurant Association.
In the group’s State of the Industry report, 76% of consumers said that they would eat out from a fast-food restaurant if they had more money. That same survey also said that 82% would order more delivery and 81% would visit a sit-down restaurant if they had the personal funds.
Which one is true? Probably both.
As a rule, it’s good to take any survey of what consumers say they want with a huge grain of salt. That same holds true for surveys of what consumers plan to do.
Generally speaking, human beings are unreliable. They are poor predictors of their own behavior, and enough of them will shift to the answer that sounds better.
Ask me at any one point if I would eat out more often if I just had the money and I’d probably say yes. And I’m the editor of a restaurant publication who eats out at restaurants, both chains and independents, with regularity.
At the same time, making a home-cooked meal more often sounds good and healthier, especially if I’m talking with someone taking a survey.
Either way, just because they say they plan to do something doesn’t mean they’ll actually follow through. It’s why so many people don’t follow through on New Year’s resolutions.
There is at least some sense, however, that consumers have been cutting back of late. So they may want to dine out more often. But they know that their finances might not be able to take it. Ergo, eating at home would be the better option.
And, in fact, consumers are spending plenty at restaurants, even if it’s not altogether evident based on traffic and other industry data. Americans spent 53% of their food dollar at restaurants, which was higher than pre-pandemic levels.
If anything, consumers’ vocal complaints over restaurant menu prices could be a reflection of a diner that sees how much they’re spending, compared with their actual frequency of restaurant dining. It annoys the hell out of them.
This all means, however, that the restaurant diner can be easily convinced to eat out at a restaurant or stay at home and cook their meals there.
Supermarkets might be able to keep those shoppers by convincing them that their offerings are healthier and cheaper. And throw some excitement to boot.
The same could be said for restaurants. In October, we saw major fast-food chains generate strong sales with promotions that apparently resonated with consumers. Wendy’s in October generated 10% same-store sales growth by calling a burger a Krabby Patty. McDonald’s put chicken on a Big Mac and did great until E. coli.
So, is there pent-up demand? Sure. But there is plenty to convince people to make their own meals, too.
Now if you’ll excuse me, I have to make some restaurant leftovers for dinner tonight.