Why eat out when there are plenty of reasons to eat in? According to a research from the NPD Group, more diners will stay home in 2019, which is bad news for all those restaurateurs out there trying to launch the next big eatery.
NPD reports that while half of people’s dining expenses are spent eating out, a whopping 82% of the meals are prepared at home. So it costs more to eat out than to stay in, and if you factor that in with projected increases in rent, stagnant wages, tight finances and higher US tariffs, you can do the math.
Another big factor entering into the mix is those darn millenials – a 75 million market segment – apparently love to cook. A study by Better Homes & Gardens indicates that 93% of millennials spend four nights a week dining in.
There’s also the rising popularity in “gourmet” meal kit delivery services, which allow aspiring Top Chef contestants the opportunity to cook home meals that suit their epicurean or dietary lifestyles.
It appears the average neighborhood supermarket is getting better at providing quality prepared foods and a wider variety of ingredients for home cooks, as well. And believe it or not, all the Netflix bingers out there are contributing to the desire to just stay in for the night.
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