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Is a meal at a restaurant making your wallet feel tighter? It’s not the food doing that.
In a culinary trend that has caught the attention of both foodies and economists alike, Wisconsin has emerged as a standout in the realm of restaurant spending. According to a recent analysis conducted by USA Today, Wisconsin ranks fifth in the nation when it comes to restaurant inflation.
Restaurant spending in Wisconsin has seen an impressive uptick of 21% in the past year. In comparison, the overall restaurant spending increase in the United States stands at a still notable 9%. This stark difference between national trends and Wisconsin's dining habits showcases the state's relationship with culinary spending. Digging deeper into the specifics, the average Wisconsinite now spends a notable $91.16 on restaurant meals every two weeks. This marks a substantial jump from the $75.15 recorded in November of 2022.
While many states have witnessed a decrease in restaurant bookings, Wisconsin's restaurant reservations have remained steady. Bucking the national trend, most in the state are still going out at a regular rate, just spending more while doing so.
Demographics of Dining
The group that emerges as the biggest spenders in restaurants are individuals aged 40 to 54. This particular demographic seems to have embraced their local culinary scenes, contributing significantly to the surge in restaurant spending.
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The comprehensive analysis undertaken by USA Today relied on multiple data sources to derive these insights. Data from the United States Census Bureau Household Pulse Survey weeks 50 to 58 provided the foundation for comparing average restaurant spending over various periods. Weeks 50 and 51, covering October and November of 2022 respectively, were juxtaposed with weeks 57 and 58, spanning April and June of 2023. This data allowed for an accurate assessment of the rising restaurant expenditure trend.
To assess the cost increase, the United States Department of Agriculture Consumer Price Index was consulted. This index, spanning from January to July 2023, facilitated an understanding of the rising cost of restaurant food that has prompted the surge in spending.
The study also used data from OpenTable between February and July 2023. This provided valuable insights into the number of bookings and highlighted Wisconsin's unique stability in this aspect.
Simply put, Wisconsinites still prefer to go out for a meal regularly. The surge in restaurant spending by 21% is an indicator of the state's commitment to enjoying dining experiences, and stability in reservations showcases a steadfast bond between Wisconsinites and their favorite eateries. While we all may be going out the same, it just may cost a little more, and that’s before they ask if we’d like desert or not.
Read the complete findings of the study here.
