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Some consumers returning to restaurants
By Sam Craine on Apr 19th, 2010
One of the main ways consumers may have tried to find some financial relief is through cutting back on discretionary spending, including shying away from restaurants.
However, a recent survey shows some may be returning to eating out as the economy shows some signs of improving. According to the poll from market-research firm NPD Group, 14 percent of respondents said they were sacrificing restaurant visits so they can do other things with their money. That's down from the 18 percent who said the same last year.
"It's clear from our research and other indicators that consumers are feeling more positive about the economy," said Bonnie Riggs, restaurant industry analyst for NPD.
The survey showed that consumers are not as focused on looking for good deals, down from 29 to 22 percent. When the poll was taken last year, 32 percent of respondents said they were choosing less expensive options regarding restaurants, although this year's poll shows that number dropped to 27 percent.
However, many people are still staying away from eating out, perhaps in an effort to control spending and pay off debt. If cutting back is still not enough to help consumers settle their bills, they may consider an option like debt consolidation, which can lower the amount of interest they pay on credit cards.
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