More Americans are cooking at home to save money, according to major food brands that are seeing shifts in consumer buying habits. With restaurant prices climbing, many shoppers are opting for nutritious home-cooked meals over dining out or purchasing snacks.
"Most of the prices at restaurants have gone up substantially even at fast food places," said one consumer.
"It's expensive, it's really expensive now, even groceries are expensive," said another shopper.
According to cost of living database Numbeo, the average San Diegan spends at least $23 when dining out. The average cost of a meal prepared at home is approximately 75% less.
"I was spending $30 every time I went out. I did the math and I figured I would get a lot more out of grocery shopping," one shopper said.
Campbell's Company CEO recently reported on an earnings call that more people are buying their broth and condensed soup products. However, sales for snack items like Goldfish and Cape Cod potato chips fell by 4% this past quarter.
The company noted this trend mirrors consumer behavior during the pandemic, when Americans focused on purchasing long-lasting meals that offered better value.
"Tonight we're doing protein-style burgers. So little lettuce wrap burgers," said one home cook.
"I have tons of boys at my house all the time, so buying four pizzas versus going out is saving money," another parent said.
Executives at large food chains, including McDonald's and Chipotle, have reported declining sales at the beginning of the year. They attribute this drop to consumers spending less due to economic uncertainty.
"You go to McDonald's, it's $20 to get a burger and fries, so we tend to go out a little less," one customer said.
For many shoppers, the reality of tight budgets is driving them to grocery stores rather than restaurants.
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