7 in 10 Aussies expect cost pressures to maintain: report
This means a shift in spending habits and possible cutbacks on eating out.
More than seven out of 10 Australians have experienced the cost of living pressures and 70% are expecting those pressures to become greater this year, a report by New Corp Australia revealed.
The report revealed that people are pulling back on takeaway food however many are still spending more on dining out due to the experience it offers, something they missed during the COVID-19 pandemic.
The pandemic has pushed several trends to take hold. For example, eating at home increased by 38%, with an increase in vegetarian and holistic eating. A new golden age of entertaining guests at home also grew, with entertaining occasions with family and friends up by 30%. Dinner parties are also making a comeback along with the era of casual outdoor dining starting with barbecues. There has been a 97% increase in intent to purchase a BBQ this year.
Meanwhile, almost eight in 10 Australians said they enjoy food from all over the world, seeing a trend of food-based adventures with friends and family emerging in the near future.
One of the main effects of the COVID-19 pandemic is how more Australians have been taking charge of their health with 91% of consumers saying they are ‘opting in’ to health and wellness.