Diners Are Ready to Spend Big at Bars and Restaurants This Holiday Season, New Data Shows
Diners are ready to go all out this holiday season.
A whopping 88 percent of people are prepared to spend more during the upcoming holidays than they do on a regular night out, according to a new survey from reservation platform Tock. A healthy 17 percent would increase their spending by 50 percent or more, the data shows. After facing several rocky years, the hospitality industry will likely appreciate the extra cash.
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“We are seeing a promising trend toward increased spending on dining out during the holidays, which is welcome news for restaurants, bars, and wineries,” Matthew Tucker, the head of Tock, said in a statement. “With an up-and-down economic environment characterizing most of 2024, restaurateurs should be planning now in order to embrace consumers’ desires to splurge at hospitality establishments around the holidays.”
Of the more than 1,000 diners polled by Tock, an impressive 68 percent said they planned to celebrate the holidays at restaurants or bars. While that could mean an intimate date night or cozy family dinner, more than half of the respondents (52 percent) said they’re planning parties of eight or more people. After years of pandemic-influenced small gatherings, holiday parties may be back.
As for what these diners are looking for when they go out this holiday season, 44 percent would shell out for themed meals and 39 percent would like multi-course feasts. As for add-ons, 62 percent of people are most likely to pay for dessert, followed by holiday-themed gifts (36 percent), wine pairings (35 percent), and festive non-alcoholic options (31 percent).
“Diners are actively seeking out meaningful, experience-driven celebrations,” added Tucker. “Restaurants that tap into this desire for connection are likely to thrive.”
For some people, the holidays can come with added baggage or stress, especially when hosting. But among those surveyed by Tock, 65 percent said they’re pretty or extremely enthusiastic for the upcoming season. Perhaps planning for a lavish, fun night out makes for a lighter load. It at least ensures that your holidays will be accompanied by delicious food and drinks—which you won’t have to deal with cleaning up afterward.
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