Almost one third of consumers are planning to spend less money on eating out during 2019, according to a new report from PwC.
According to the findings in its Retail Outlook 2019, which surveys more than 2,000 consumers, 30% said they planned to spend less on eating out, with 11% planning to spend more.
The report also found that 24% of consumers planned to cook more at home, while 21% said they planned to spend less when eating out in their usual restaurants and pubs as previously, while 17% planned to eat out in cheaper restaurants.
Overall, 60% of respondents said that Brexit has not and would not impact their spending this year, with those in the north east least concerned and Londoners the most – 41% of those living in London said they had already changed their spending habits, with a further 14% planning to make changes this year.
In terms of demographics, around half of consumers aged under 35 years old, said they had changed, or would change, their spending in response to Brexit, compared to less than a third of over-45s.
Lisa Hooker, head of consumer markets at PwC, said: “When speaking to consumers in recent years, they’ve consistently told us their main priorities for increased spending are groceries and holidays. This year, these categories remain important but we are seeing subtle changes for the younger generation who are prioritising spending money on their homes, health and beauty.
“What is consistent across the board is that consumers are looking to get more for their money, with almost a third saying they will shop around more and buy more items on promotion. Pressure on consumer spending will impact the little luxuries - such as eating out - with just over a third of people saying they plan to cook at home more.”