As Prices Rise, Consumers Shift to Meals at Home

With ongoing food price increases come even more consumers opting out of restaurant purchases in favor of more affordable meal options.

By the Numbers

Research from PYMNTS’ study “Consumer Inflation Sentiment: Inflation Slowly Ebbs, but Consumer Outlook Remains Gloomy,” which drew from an August survey of 2,169 consumers, found that 78% expect to eat at home more often to save money, up slightly from the 77% that said the same the month prior.

Read more: New Survey Shows Consumers Less Optimistic Than Fed on Taming Inflation

The Data in Action

Consequently, many grocers and other non-restaurant food businesses are looking to woo these cost-conscious shoppers with more prepared food-at-home options. Meal kit companies, for one, have been adding heat-and-eat options for lower-effort restaurant alternatives.

See more: Meal Kit Companies Dabble With Faster Options for Kitchen-Weary Consumers

Take, for instance, Berlin-based direct-to-consumer (D2C) meal kit provider Marley Spoon, which operates in eight countries across three continents. On a call with analysts Friday (July 29) discussing the company’s second-quarter fiscal year 2022 earnings results, Marley Spoon shared how its moves into ready-to-eat meals are helping the company adapt to consumers’ changing demands.

On the call, Founder and CEO Fabian Siegel said the “integration of our newly-acquired, ready-to-eat Chefgood business” contributed to the company’s incremental growth in Australia. Additionally, Marley Spoon Chief Financial Officer Jennifer Bernstein noted that this ready-to-eat business helped drive “the increase in average order value” that the company saw in the quarter.