'Convenience generations' kept catering trade running in 2023
Dutch NewsYounger generations who book a restaurant table or a night out to “destress” helped keep the catering sector running in 2023 and offset the pressure of rising costs. FSIN also said that the sector was being sustained by the under-45s, with the “convenience generations” spending €2,265 a year on average on eating out, compared to €485 for so-called baby boomers – the over-60s, most of whom are now retired. “It’s increasingly clear that the real problem for the catering industry is not on the customer-facing side but behind the scenes.” However, there were signs of hope for 2024, when disposable income is expected to rise as inflation continues to fall while the wage increases agreed in many sectors last year take effect. With younger generations accounting for 79% of spending in restaurants and cafés, the sector could look forward to another two decades of growing demand, Blokker added.
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Catering sector recovering quickly, though costs continue to rise: ING
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