A survey indicates that spending on takeout and dining out will be slashed first if incomes are squeezed this fall.
Almost half of the British households stated they would reduce their takeout consumption if they were forced to cut costs.
The study indicated that 44% of respondents would spend less on eating and drinking away from home, while the same percentage would spend less on apparel and footwear.
Internet service, consumables, and personal care were cited as the three areas where respondents would reduce spending the least.
According to a report by LEK Consulting, many seek to offset price rises by switching to less expensive food options, such as store brands and bargain stores.
However, it was also discovered that customers, many of whom have been on a shopping binge since Covid limitations were lifted, are hopeful about their ability to weather the impending recession.
Half anticipate that their level of living will either increase or remain the same within the next year.
