A new survey from the Good Food & Wine Show has confirmed that the rising cost of living is affecting how people wine and dine, with 71.7 per cent of respondents revealing they are eating out less often.
This shift in consumer behaviour is not just about cutting costs - it’s leading to a resurgence in home cooking and at-home entertaining. As event director of the Good Food & Wine Show, James Laing has seen this trend play out first-hand and discusses what this means for the future of the industry.
The survey, conducted by Australia’s longest-running national food and wine event, sheds light on evolving culinary habits across the country, with the cost of living emerging as a pivotal factor.
Affordable luxuries drive shopping trends
Consumers are increasingly focused on affordable luxuries, with 19.7 per cent seeking indulgent items that provide long-term value. At the Good Food & Wine Show, attendees discover premium, gourmet products that often become new staples in their kitchen. This exposure creates new shopping trends, as consumers start to demand these gourmet products from their local retailers.
With 61.7 per cent of survey respondents spending more time searching for sale items, retailers can capitalise on this trend by offering premium staples, artisanal ingredients, and gourmet snacks at accessible price points. By curating a selection of high-quality products, retailers can meet consumer desires for affordable luxury within a price-conscious mindset, enhancing their overall shopping experience.
Elevated home cooking
With 48.2 per cent of Australians cooking more at home, and 46.9 per cent still craving fine dining experiences, gourmet home cooking is becoming increasingly popular. The Good Food & Wine Show’s cooking demonstrations, led by celebrity chefs in the Harvey Norman Kitchen, inspire consumers to elevate their skills by showcasing the latest trends in the industry.
These demonstrations focus on practical, accessible techniques that can be easily replicated at home, directly impacting consumer shopping habits. As attendees seek out the ingredients, tools, and products showcased at the event. Retailers can make the most of this by stocking similar items and aligning their offerings with the latest home cooking trends, tapping into the growing market of consumers eager to recreate fine dining experiences at home.
Education and inspiration
Home cooking is not only about practicality and cost-cutting—it has become a lifestyle choice, with nearly 30 per cent of Australians turning to at-home cooking to escape daily stress. The masterclasses and live cooking demonstrations at the Good Food & Wine Show, like Kirsten Tibballs' new Chocolate Masterclass, play into this movement by offering educational experiences for those looking to incorporate more at-home cooking into their lifestyle.
Attendees learn new skills at the show and apply these techniques at home to elevate their cooking. This desire for learning experiences presents a unique chance for retailers and F&B businesses to directly engage, and create value for, customers. From hands-on cooking classes to wine tastings at family-owned vineyards, small businesses can thrive by supporting this growing lifestyle movement.
In challenging economic times, these retail trends offer a silver lining. By tapping into the growing interest in home cooking and the desire for quality, retailers have the opportunity to connect with a new market of consumers who are eager to invest in products that enhance their at-home culinary experiences.
The Good Food & Wine Show will head to Brisbane on the 25th-27th of October, followed by the Melbourne and Sydney Christmas Markets later in the year. Registrations for the 2025 Good Food & Wine Shows are now open. For more information on securing your place in Australia’s longest-running national food and wine event, head to the website.
