Lazard’s Middle Market Consumer, Food and Retail Group, in partnership with CH Consulting Advisors, surveyed more than 1,000 consumers across a range of demographics about their past, current, and expected future food purchase behavior.
Most respondents prefer cooking at home
- Consumers report having decreased dining in restaurants significantly, down 70% from pre-COVID levels to account for only 3% of weekly meals today
- Consumers reported offsetting that decrease almost entirely with scratch cooking at home, which jumped to account for 57% of weekly meals from 50% pre-COVID
In-restaurant dining is likely to suffer for a while
- No matter what happens with COVID over the next six months, consumers currently expect that their in-restaurant dining will, at best, return to only 70% of pre-COVID levels
