Even if restaurants succeed in staffing back up to pre-COVID levels, they may have trouble finding headcount of a different sort: Diners.
A new survey, Numerator Quick Pulse: Inflation & Consumer Expectations, asked consumers where and how they'd cut spending as prices rise. Nearly 70% said they'd cut back on out-of-home dining (including fast food).
And prices are rising. The Bureau of Labor Statistics this week reported that consumer prices rose 5.4% "for the 12 months ending July, the same increase as the period ending June."
Second on the list of consumers' cutbacks was out-of-home entertainment, where 57% of those surveyed said they'd spend less on movies, concerts and amusements.
Rounding out the top five categories for which consumers said they'd spend less: holiday gifts (52%), holiday celebrations (46%) and travel (44%).