Buffet Usage Plummets Amid High Inflation... Hotels Nearing '200,000 Won' Were Crowded

Recently, amid prolonged high inflation, the preference for buffet-style restaurants has declined compared to before as dining-out costs have soared. Buffets are generally more expensive than regular restaurants, making them a consumption choice that does not align well with the current economic situation. However, there is also a considerable opinion that buffets are rather reasonable because they allow customers to enjoy a variety of dishes in ample quantities.

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On the 16th, market research firm Embrain conducted the "2023 Buffet Restaurant Related U&A Survey" targeting 1,000 adults aged 19 to 59 nationwide who have experience using buffet-style restaurants. The results showed that 67.9% of respondents felt that buffet prices have risen too much due to inflation, indicating a high level of psychological resistance to the price aspect.

Respondents generally viewed buffet-style restaurants as a type of consumption that does not fit the economic conditions of high inflation and recession. 61.1% of all respondents said they felt it was a waste because they could not eat as much as the price when going to a buffet restaurant. They also showed an attitude that eating mainly high-priced menu items to get their money's worth (57.6%) was the way to break even. As a result, the usage rate of buffet-style restaurants has also declined. In 2012, 98.1% of respondents said they had used a buffet restaurant within the past year, but last year, this dropped to 82.6%.

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However, about half of the respondents (49.2%) answered that considering the cost of desserts such as coffee after meals, buffet-style restaurants could actually be a "cost-effective (performance relative to price)" option. Additionally, 40.3% of respondents said that with recent dining-out prices rising so much, buffet restaurants actually feel inexpensive, and 45.2% agreed that it is good to be able to eat as much as they want at a relatively low price. This shows that public attitudes toward buffet-style restaurants coexist with both dissatisfaction and satisfaction regarding price.

Among types of buffet-style restaurants, family restaurant salad buffets were the most visited (77.3%, multiple responses allowed), followed by hotel buffets (71.5%) and Korean food buffets (70.2%). Notably, the usage rate of hotel buffets increased significantly from 55.3% in 2016 to 71.5% last year, confirming that as high inflation and economic downturn continue, interest in cost-effective products is rising, while consumption polarization persists with people opening their wallets for special experiences.

This trend is also clearly reflected in the reasons for visiting buffet-style restaurants. For family restaurant salad buffets, the main reasons cited were being able to enjoy a variety of desired menu items (40.6%) and being able to eat as much as they want (34.4%), indicating a high appreciation for the ability to taste "various menus relative to price." In contrast, for hotels, the highest response (36.0%) was that it is suitable for a special meal, followed by a luxurious atmosphere (34.6%) and visiting because the company is enjoyable (27.3%), showing a difference in motivations.

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