Dining Out Declines

But people have to eat… at home…

The restaurant industry is taking a hit as economic struggles plague the country. New consumer research from Mintel1 reveals that over half (54%) of people who dine out regularly are cutting back on restaurant spending because of the economy.

Rising gas and food prices, home foreclosures and a fear of recession have caused many Americans to curb out-to-eat spending. Seventy percent of those trying to cut back are saving money by going out to eat less, rather than by choosing cheaper entrees or dining at less expensive restaurants, reports Mintel.

But as budgets tighten, home cooking is getting a lot more attention. Mintel found that 72% of people who regularly cook at home do so because it is cheaper than other options

Dining Out Declines

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