Restaurant closures rise as consumers cut back on dining out spending

Breakdown

• Restaurant closures are increasing due to financial pressures and rising operating expenses.
• Consumers are cutting back on dining out, ordering less expensive meals, and sharing dishes. 36s
• Many are also reducing orders of alcoholic drinks to save money. 56s
• Data shows single-person households spend about $222 monthly on dining out, while families spend around $500. 1m 9s
• People are seeking ways to save, such as eating out less often and looking for happy hour deals. 1m 41s