The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
Are you taking your lunch to work? Good. You’re probably saving a lot of money, and very likely calories as well. You’re also part of a growing movement.
It turns out that people aren’t eating lunch at restaurants as often as they used to, according to recent data from NPD Group, a global research firm. Lunch visits to restaurants, which represent 33% of U.S. restaurant traffic during the day, were down by 4% percent in the second quarter of this year compared to the same period last year, according to NPD.
Part of the reason is the rise in the number of people working at home, the research firm said. Add to that more shopping online, which cuts down on foodservice meals and snack breaks, and increases in menu prices, and you get less overall lunch traffic.
A pricing analysis done by NPD Group found that the price point where consumers are most satisfied and most likely to visit is when they feel it is “affordable to eat there often” and “good value for the money.” Average lunch checks in the second quarter of 2016 have increased by as much as 5% compared to the same quarter a year ago. NPD Group said that has also moved them beyond consumers’ “sweet spot” price.
“Simply said, who can afford to go out to lunch on a regular basis when checks have risen for some as much as they have recently,” says Bonnie Riggs, NPD Group, restaurant industry analyst, in a press release. “Historically, foodservice lunch has been the occasion where consumers didn’t want to invest a lot time, money or energy into this meal. It’s apparent by the drop in lunch traffic that the current value proposition isn’t meeting these needs.”
If you’re still buying your lunch most days, chances are you could experience some significant savings with just a little bit of advance planning. In fact, it’s possible to spend less than $2 on lunch every day by making it yourself. You can see how the savings can quickly add up, especially if you’re currently spending $10 or more each time you eat lunch.
That extra money can go toward saving for a dream vacation or a new car. You could even pay down your student loans or credit card debt, which can dramatically improve your credit scores. You can see how your spending habits and debt are impacting your credit by viewing your free credit report summary, updated every 30 days, on Credit.com.
Image: Maridav
April 11, 2023
Uncategorized
September 13, 2021
Uncategorized
August 4, 2021
Uncategorized