A study by Square, a digital payments platform, reveals a shift in American eating habits, with a decrease in spending during the week in favor of weekends and evenings, transforming the restaurant industry.
Briefly
Eating habits in the United States have undergone a significant shift with the advent of hybrid work. According to a recent study by Square, a digital payments platform, lunchtime transactions during the week have decreased by 3.3% compared to 2019. In contrast, spending during weekends and happy hours during the week has increased by 4.2% and 0.3%, respectively. This trend, supported by data from the University of Toronto, shows that consumers are saving their spending during the week to spend it on leisure activities, thereby transforming the landscape of restaurants and bars in the U.S.
Key Takeaways
- Lunchtime transactions during the week: -3.3% compared to 2019
- Weekend transactions: +4.2%
- Weekday happy hour transactions: +0.3%
- Increase in brunches: from 1.60% to 1.88% of transactions between 11 AM and noon on Saturdays (2019 vs. 2023)
Analysis and Breakdown
Changing Consumption Habits: The reduction in weekday transactions is attributed to fewer workers being present in offices, a direct consequence of hybrid work. Consumers now favor leisure and social experiences, concentrated on weekends and evenings.
Impact of Hybrid Work: The flexibility of remote work has led to decreased foot traffic in dining establishments during lunch hours. This necessitates a reevaluation of operating and service strategies.
Price Increases: Rising costs of dining out are pushing consumers towards more affordable alternatives, such as brunches or happy hours. This trend is exacerbated by menu inflation in restaurants compared to grocery prices.
Business Opportunities
Establishments need to reinvent themselves by offering attractive deals during weekends and evenings to capture consumers' attention and spending. Innovation in menus, promotions, and opening hours is crucial to adapt to these new habits.
While this study highlights a profound shift in eating behaviors in the United States, it is important to note that Americans have a different culture compared to Europeans, and particularly the French, regarding lunchtime. In France, lunch remains an important part of the day, often longer and more structured than in the U.S. Therefore, it would be relevant to conduct a similar study on the French population to analyze if these trends are also reflected in Europe.
Alice P
