70% of Diners Willing to Pay More for their Dish if it’s Sustainable

Clelia Malinverni

Lightspeed Commerce

Standard Supplier 30th November 2023
Clelia Malinverni

Lightspeed Commerce

Standard Supplier

70% of Diners Willing to Pay More for their Dish if it’s Sustainable

- Diners admit they will pay more for sustainable dining

- Over a quarter of eco-conscious diners surveyed say they would stop visiting somewhere if they found out that it wasn’t being run in a sustainable way 

- Fine dining restaurants lead the way in being perceived as the most sustainable restaurants, leaving vegan and vegetarian restaurants in second place

- Hospitality industry urged to put customer expectations first to address sustainability concerns 

A new survey by the unified ePOS and payments platform Lightspeed Commerce Inc. (NYSE | TSX: LSPD), suggests that restaurateurs could lose just over a quarter of diners if they found out their business wasn’t being run sustainably. 

Lightspeed Commerce Inc., the unified ePOS and payments platform for ambitious entrepreneurs to accelerate growth, provide the best customer experiences and become a go-to destination in their space, looked at UK diners’ mindset when it comes to sustainability in hospitality and discovered diners are waking up to planet-friendly dining.

Over 70% of diners surveyed consider themselves environmentally conscious. This heightened awareness is driving a change in consumer behaviour, with 36% of Britons actively seeking restaurants that have robust sustainability initiatives in place.

Of those who proactively seek planet-friendly restaurants, over a quarter (26%) stated that they would stop visiting a restaurant if they discovered it was not run sustainably, showing that for many diners, the commitment to sustainability is not just a preference but a principle.

The future of the UK dining industry is increasingly intertwined with sustainability, with 82% of respondents believing that the restaurant industry must make sustainability a focus if they want to thrive.

When it comes to paying the bill, 70% of the respondents polled are willing to pay more for a meal at a restaurant committed to environmentally friendly practices, with one in five (19%) saying they would be prepared to pay more than £10 extra for an environmentally-friendly dining experience.

Amongst the sustainability proof points expected from diners, eco-labelling emerges as something that will help diners make better choices for the planet, with 50% of respondents expecting to see restaurants label their dishes with carbon footprint ratings, similar to calories outlined on menus seen in many casual dining restaurants today.

For more about sustainability in the restaurant industry, read our 2024 trend blog: www.lightspeedhq.co.uk/blog/top-restaurant-trends/

Notes to editors: 

About the research: 

1,000 UK-based adults, aged between 18-100 years old were polled via an online survey by Perspectus Global, conducted in November 2023. 

About Lightspeed 

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks. 

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With a dedicated London office, as well as teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries. 

Forward-Looking Statements 

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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