- September 2023
Inflation is reshaping the out-of-home dining preferences of Asia-Pacific consumers
The easing of the stringent COVID-19 restrictions unleashed pent-up demand for out-of-home dining experiences in the Asia-Pacific (APAC) in 2021 and 2022. However, after the pandemic, inflation has emerged as the new disruptor, influencing how often, when, and where consumers dine out.
The COVID-19 outbreak in 2020 proved a bane for dine-in restaurant operators and a boon for food takeaway service providers. Amid the lockdowns, dine-in transaction volumes and value plunged in 2020, while takeaway transactions rose. However, the pent-up demand for dine-ins resurged as authorities began easing the pandemic control measures in 2021. Despite the prevailing social distancing and face mask mandates, consumers began flocking back to their favourite eateries in 2021. As a result, dine-in transactions began rebounding, while takeaway transactions decelerated.
In this Whitepaper
• Dine-in and food takeaway services have had a rollercoaster ride in recent years
• Different consumer cohorts are reacting differently to spiralling inflation
• Challenging times ahead for the foodservice sector
Lab-grown food pivotal for food security in the Asia-Pacific
