The Blubber

Per Axios

A new study by Axios has found that Americans were spending less on groceries than they had been spending on restaurants. From 2021 to 2023, the gap will widen.

It was reported that Americans spent $95 billion on dining out compared to the $72 billion spent on groceries. This resulted in 20.7% more being spent on restaurants than groceries in 2022.

In the first two months of 2023, the gap rose to 29.5%, according to JLL's compilation of data from the Commerce Department. In other words, this meant that for every $100 spent on groceries, Americans spent $130 on dining out.

In March, it was reported that restaurant spending had increased by 13% compared to a year earlier, per a report by the Commerce Department. This took over the spending on retail, which saw just a 2.9% gain.

Over the past ten years, it was revealed that spending on groceries was more than on restaurants for a period of time. Throughout the years 2013 to early 2015, people spent more on groceries than restaurants.

During the pandemic in 2020, spending on restaurants saw a steep decline, while groceries suddenly increased by over $10 billion.

In February, it was reported that the average worker in New York City is now spending $4,661 less compared to a year ago on meals, shopping, and entertainment near work. This comes as a result of a three-day workweek.

In December 2022, it was reported that food inflation had affected around 70% of Americans, which has resulted in them struggling to afford groceries. This was based on a survey which included 1,500 participants.

It was found that products like eggs, coffee, and cereal have seen a massive increase in prices. The survey also found that 83% of them rely on coupons, reward apps, and loyalty programs.

See flow at unusualwhales.com/flow.

Other News:

• The average worker in New York City is spending $4,661 less per year on meals, shopping and entertainment near work as a result of the new three-day workweek
• Around 70% of Americans Reportedly Suffer from Food Inflation and Now Struggle to Afford Groceries

Resources:

Axios