Continued inflation drives consumers to seek
out more promotions, discounts and loyalty programs to manage costs
associated with dining out.
CHICAGO, May 9, 2024
/PRNewswire/ - Givex, (TSX: GIVX) (OTCQX: GIVXF), the
cloud-based global customer engagement and business insights
platform, has released findings from its latest survey examining
the impact of inflation on American dining preferences and habits.
The Givex 2024 Restaurant and Dining Trends Survey draws from
responses of over 1,000 Americans, offering a detailed look into
evolving consumer behaviors as the economic landscape shifts.
"The ongoing economic challenges have understandably altered the
way people approach dining out," said Givex's Chief Commercial
Officer, Mo Chaar. "Our survey
indicates that while price sensitivity has increased, so has the
appreciation for value-added services like loyalty programs and
promotional offers, which can help restaurants maintain customer
engagement during these challenging times."
According to the survey, 86% of Americans cite promotions as a
major incentive to dine out, closely followed by coupons and
discounts at 81%. Additionally, 65% of respondents find value in
loyalty programs, and nearly half (47%) are attracted to Happy Hour
deals. This shows a clear trend of consumers seeking ways to
maximize value in response to rising menu prices and the ongoing
impacts of inflation.
Other key insights from the Givex 2024 Restaurant and Dining
Trends Survey include:
- Inflation Impact: A notable 78% of Americans agree that
higher menu prices have made dining out more challenging over the
past year.
- Shifts in Dining and Delivery: Some 41% of respondents
are dining out less frequently, while 45% have reduced their food
delivery orders compared to last year. Meanwhile, 60% report
cooking more at home.
- Loyalty Programs: Nearly half of all Americans
prioritize grocery loyalty programs, with 49% rating them as most
important. Overall, 87% of Americans participate in at least one
loyalty program.
- Technology Adoption: There's a growing acceptance of AI
— specifically conversational AI-driven product recommendation
technology — in the restaurant industry, with 52% of Americans
comfortable with its implementation. In the 2024 Restaurant
Technology Study co-sponsored by Givex, 63% of restaurant operators
surveyed said they are planning to use or add AI or
automation/robotics into their operations. Both data sets
underscore the growing demand for emerging technology to enhance
the customer experience and restaurant operations.
"As we navigate a period marked by economic adjustment,
understanding consumer priorities is essential for businesses
aiming to enhance customer experiences and drive sales," said
Chaar. "The insights from our 2024 survey provide critical data
that can help restaurant owners and operators make strategic
decisions that align with customer preferences."
For more information about the technology solutions offered
by Givex, visit givex.com.
About Givex
The world is changing. Givex is ready.
Since 1999, Givex has provided technology solutions that unleash
the full potential of engagement, creating and cultivating powerful
connections that unite brands and customers. With a global
footprint of 132,000+ active locations across more than 100
countries, Givex unleashes strategic insights, empowering brands
through reliable technology and exceptional support. Givex's
integrated end-to-end management solution provides Gift Cards,
GivexPOS, Loyalty Programs and more, creating growth opportunities
for businesses of all sizes and industries. Learn more about how to
streamline workflows, tackle complex challenges and transform data
into actionable insights at www.givex.com.
View original
content:https://www.prnewswire.com/news-releases/78-of-americans-agree-higher-menu-prices-have-made-dining-out-more-challenging-this-year-givex-survey-reveals-302141022.html
SOURCE Givex Corporation
