The holiday season brings along a flurry of changes to everyday living. The weather begins to change, kids have a break from school, and employees receive time-off. The lucky ones get a bonus check with it. As the season changes; consumer behavior, as well as spending habits and preferences change in restaurants. Restaurants must take full awareness of these changes as this has a large influence on their eateries. Customers are very likely start dining out more during the holidays.
Dining Out While Shopping
According to MasterCard Spending Pulse, holiday season restaurant sales have increased between 4.2% and 6.4% every year since 2010. Not surprising. We asked customers if they are more likely to dine out during the holidays and more than 65% answered yes. This data is the result of a few factors. For one, the holidays bring people out shopping and shoppers get hungry. For those who spend hours out shopping, a restaurant is the perfect spot to take a break. Of those that said they dine out more during the holidays, 43% said they dine out because they are shopping. Restaurants also see an increase of sales because of gift cards. Many shoppers purchase gift cards as a quick and easy gift to give to relatives, friends and coworkers.
Dining Out with Good Company
The atmosphere also plays in to why restaurant sales increase during the holidays. The holiday season brings families and friends together, and they are more willing to spend money this time of year. Of those surveyed, over 50% said that bringing family and friends together is a reason to go out and spend money on a nice meal. With the recent increase of the economy, more consumers feel they have the ability to dine out. This is especially true after many employees receive bonuses or holiday gifts from their employer. Consumers see dining out as a sort of holiday gift for themselves.
The holiday season is underway and restaurants must prepare for the increase of customers throughout the holiday season. As consumers flood shopping malls and centers to purchase gifts, they will also take a seat in your restaurant. Whether shopping alone, or out to celebrate with family and friends, restaurant goers are more willing to spend money on a bite to eat. Remember, tis the season to be jolly so as customers walk in, greet them with a smile that is merry and bright.