Rise of the eat-at-home economy | FT #shorts

Industry Trends - UK consumers are increasingly opting for premium ready meals as an alternative to eating out due to rising costs [1] - A broader post-pandemic trend shows consumers favoring less social, more convenient at-home experiences, boosting food delivery services [2] - Restaurants are facing challenges due to decreased visits and increased labor costs [2][3] Financial Impact - The insolvency rate for UK restaurants and food services businesses is approximately twice the average across all sectors [3] - Mid-market restaurants are particularly affected as customers choose to eat at home or reduce spending when dining out [3] Restaurant Strategies - Restaurants are attempting to counter the trend by enhancing the dining experience with experiential features, atmosphere, service, and entertainment [4]