163M people dine out at least once a week, survey finds
41% are dining out more often than two years ago
Former CKE Restaurants CEO Andy Puzder discusses the New York City restaurant sales hitting $22 billion annually, whether food delivery service is a bubble, and consumer strength’s helping the restaurant industry across the board.
Despite the uptick in online ordering, nearly 163 million people – or 64 percent of people – say they dine out at least once a week.
In fact, nearly 50 percent say dining out is an essential part of their life, according to the International Council of Shopping Centers (ICSC), which surveyed 1,004 American consumers.
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Collectively, this dining expenditure equates to more than $600 billion annually, or an average of $71 per week, according to the findings.
“Dining options have grown significantly in recent years as Millennials seek experiences and Baby Boomers become empty nesters,” said ICSC President and CEO Tom McGee. “In the last five years, the sector has added over one million jobs and increased its share of GLA by 1.3 percentage points.”
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Despite customers increasingly latching onto the rising popularity of ordering out, more than 60 percent of consumers said they haven't changed how often they eat at restaurants.
Regardless, restaurants continue to capitalize on changing consumer preferences as they vie to keep their customer base.
The $26.8 billion online ordering market is the fastest-growing source of restaurant sales in the United States, according to David Portalatin, a food industry adviser for the NPD group. Digital orders, while still accounting for just 5 percent of all restaurant orders, are growing some 20 percent each year.
The biggest reason for those opting to dine out was convenience, the survey found.
Convenience, however, differs per person, so while 83 percent of consumers desire a quick bite at fast-food and fast-casual restaurants, 67 percent continue to utilize takeout or delivery services.
However, despite the desire to save time and energy, 67 percent said they continue to dine at full-service restaurants weekly.
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Engine Insights conducted the consumer survey on behalf of ICSC.
The Associated Press contributed to this report.