National Restaurant Association recently posited this question. With the whirlwind of news coming out of the past year of campaigning, it’s important to consider how that is affecting the economy, especially in the food sector.
The NRA’s latest survey suggests that nearly one-third of Americans may feel less confident in personal spending as a result of the election. However, 55 percent of those surveyed felt that their spending habits have remained unchanged, while 14 percent of adults say they are more confident in spending.
A variety of factors go into these answers, but age plays an important factor, according to the NRA. Among those surveyed, adults over the age of 65 were the largest segment that said their confidence had wavered, at 36 percent. That same group had only 5 percent answer they were more confident.
That gap closes considerably among 18-34 year olds. In that group, the ‘less confident’ only beat the ‘confident’ by 8 percent, at 28 to 20 percent, while 52 percent remained unchanged.
How will these attitudes affect the food industry, and your bakery? That remains to be seen. A recent Gallup Poll suggests that the food service industry is the most popular business sector among Americans, and of course people have to eat, so food service would be the most likely sector to remain unchanged by the presidential campaign. One could even make the argument that bakeries and other food service establishments would be important in the coming months, as political distress may lead to increased food consumption.