According to HGEM’s Consumer Survey Insights report, which cited information from the insight company’s Covid Safety Tracker, the average safety score is now 8.34 out of 10 – up from 7.9 in September, 7.19 in July and has been slowly rising since October 2020, when the number was 7.07.
Confidence is highest in the Generation Z group (8.78) and lowest with those aged over 66 (7.92). Furthermore, women were slightly more risk averse than men (8.27 and 8.57 respectively).
The report also revealed more than three quarters (83%) of consumers would prefer to spend money on experiences rather than goods (17%).
When broken down into food-focused experiences, if money were no object, 70% would choose to eat at a seven-course Michelin star restaurant however, almost a quarter (22%) would prefer to go to their local independent pub or restaurant.
Some 5% said they would choose either a high street favourite restaurant or an upmarket pub or bar.
The research also dissected the data into age groups and from this found 82% of those aged 35 to 45 were most likely to choose a Michelin restaurant. This age group also had the lowest percentage of people choosing a local venue (10%).
All the other age groups were closer to the average percentage of 24% and local venues were a particular favourite with those aged 56 to 65 where the figured reached 29% of responses.
Meanwhile, the report also stated sustainability could be a key differentiator and selling point for hospitality brands, as people make choices more carefully, but currently, consumers are happy to pursue luxury experiences, such as Michelin-starred venues.
When it comes to accommodation, 24% of consumers would choose to stay at a luxurious country inn, while half (50%) would prefer an overnight stay at a five-star hotel or resort. A further 8% would prefer to either stay at an ultramodern aparthotel or go glamping.