A new Consumer Culture Report has revealed dining out as the most popular expense consumers intend to spend most of their disposable income on in 2022.
Consumers Plan to Spend Majority of Disposable Income on Dining Out
The report was compiled by 5W Public Relations, who are one of the largest independently-owned PR firms in the United States. The research itself was conducted in November last year by Censuswide, who surveyed 2,002 respondents aged 16 or above across the USA.
Research to Guide Strategy and Planning
As an award-winning digital agency, 5W Public Relations are hoping the study’s findings will encourage small business owners, especially those in the restaurant industry. They hope the information gathered from the research can help guide strategy, planning and execution of consumer and digital client campaigns.
Restaurants have been among the worst hit by the restrictions brought in to fight the pandemic. There is hope on the horizon though and many restaurants have even been able to introduce outdoor seating to compensate a little for restrictions on indoor gatherings.
The survey also asked respondents about their use of such outdoor seating, with 45% saying they have visited restaurants featuring the outdoor set-up. About half of those also stated that they planned on continuing to use outdoor seating, even through the colder months.
An ‘Incredible Year of Rebound’ Ahead
The Consumer President of 5W Public Relations, Dara A. Busch, said: “It is no coincidence that the top industries consumers want to spend their disposable income in this year were also among the areas hit the hardest during the pandemic.
“As safety measures continue to improve, consumers are looking to resume a sense of normalcy and engage in activities that have eluded them these last two years. 2022 will be an incredible year of rebound and further growth for experiences.”
Other Expenses Popular with Consumers
While dining out topped the polls for the most popular way consumers plan on spending their money in 2022, travelling and having experiences came in a close second. Also popular was spending on clothing and fashion, as well as spending on electronics and technology.
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With the rate restaurants are increasing prices, they’ll need a lot of disposable income.