The restaurant and hospitality industries can be pleased with a recent consumer survey about the things Americans would least like to give up.
Dining out topped the list (49%), according to a HomeServe survey, followed by streaming TV at 47% – which might not bode well for movie theaters – and vacations at 45%. Conversely, the two things consumers were most willing to give up included regular pet grooming (16%) followed by club/golf/pool membership (18%).
At 47%, however, vacations were also on the list of purchases that respondents are also putting off on buying due to inflationary pressures, along with home furniture and household items and a new or used car topping the list.
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A super majority (82%) said that inflation is impacting their budgets with groceries, utilities and gasoline most prominent.
A bit disturbing and consistent with previous surveys was how few Americans have funds saved for home repairs. Over one-third (36%) have $500 or less – or even no money – set aside to pay for a repair. Almost 15% have absolutely nothing set aside.
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