2024 Report: Hospitality Insights and Dining Dynamics
A survey of over 500 hospitality owners and more than 1,000 consumers reveals in-depth insights on dining trends, the financial shifts in Australia, restaurant technology and what to watch in 2024.
The report answers several key questions, including:
- How often are consumers eating and drinking out?
- How much are consumers spending on dining out and takeaway?
- Which dining trends do venues plan to introduce in 2024?
- What trends to diners want to see adopted by hospitality venues?
- What do consumers think about surcharging?
- How are venues using AI?
Key takeaways from the report include:
Sustainability is on the menu for hospitality owners and diners
100% of operators are implementing at least one environmentally friendly initiative, and 34% of consumers want to see more sustainable food sourcing from venues.
Veganism causes a dining disconnect between venues and diners
Hospitality operators rank vegan and plant-based items as the most important dining trend to implement this year. Diners, however, ranked it at the tail end of the dining priorities scale – in position 7 out of 8.
Cost of living crisis hits 99% of hospitality venues
Diners are feeling the pinch too, with 70% of customers needing to fork out more on their hospitality bills in 2023 than in 2022.
Menu prices increase by one-third as operators battle inflation
Venues have also had to change menu items, let staff go and renegotiate with suppliers to combat rising prices.
