Consumers 'can't afford' to eat out
04 September 2008
The Credit Crunch is hitting the restaurant trade as people no longer have enough spare cash to enjoy eating out, experts have warned.
Paul Foley, Managing Director of discount supermarket chain Aldi, and celebrity chef Phil Vickery say consumers are staying in as they simply don't have the funds to pay restaurant bills.
Mr Vickery said: "Even on bog standard chain restaurants that you get in every high street, for a family of four it's still the best part of £100 and people just can't afford to spend that anymore."
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He added that the price of meals in restaurants have risen due to an increase in the cost of core products and when this is combined with rising household bills, shrinking disposable incomes simply mean less meals out.
However, Mr Foley suggested that people do have a number of alternatives open to them. He noted that consumers have been "bombarded" with celebrity chefs showing them how to cook different meals at home.
