According to the latest survey conducted by NPD Group Inc, a research firm, 82 per cent of Americans are now preparing their meals at home. This percentage is higher compared to the number recorded a decade ago. Even restaurateur Leonardo Gonzalez Dellan was not surprised by the new findings because his restaurants are also facing the same challengers as every restaurant in the world – how to beat the convenience of staying at home to eat home cooked meals while watching Netflix.
Apart from this, there are other reasons that impacted this change in eating habits especially among Americans. There are those people who are getting more conscious about the food they eat therefore they shy away from fast food chains and ready-to-cook meals. There are also those who are saving money because they have to pay their student loan therefore they do not have the budget to go to a restaurant to have fine dining even at least once a month.
Despite the fact that big fast food chains have reported in increase in revenue, they are not actually getting more customers but rather they are earning more because of the price hikes. Based on MillerPulse data, the fast food industry is slowing down for the past 29 months because the foot traffic has slowed down by 1.1 per cent.
NPD’s food industry adviser, David Portalatin, said that there are misconceptions because of the reports that fast food chains and restaurants are earning more. The truth is that majority of the households in America are still cooking their own meals.
This change is starting to have a negative impact on the fast food industry because they are already facing a number of issues such as the higher labor costs and the rent is also increasing. These added costs have to be shouldered by the paying customers therefore it is more practical for many Americans to just cook at home considering the price hike. Leonardo Gonzalez Dellan admitted that they have had to increases prices in the past year along with fast food chains because of the growing costs and the overhead they have to consider.