Forward Looking Consumer Survey with 1,500 Respondents
Throwing Caution to the Wind
RR’s Intent to Eat Out Index (our survey of 1,500 consumers’ plans to eat-out over the next month) declined just about -1% on a y/y basis despite extensive media coverage over virus concerns.
Results are also better than expected given a -2% reduction in the amount of individual income tax refunds through 2/28/20.
What is interesting is the improving trend of the 18 – 24 age demo despite steady increases in the average QSR promotional price. It seems America’s youth is throwing caution to the wind…
This contrasts with a sharp increase in the 65+ crowd that plans to eat-out a lot less according to our survey. All-the-same, half of all the seniors do not intend to make any changes to their dining-out habits no matter all the advice they receive to stay-in — we know the type 🙂