Finnish consumers cut back on dining out amid economic challenges

During challenging economic times, many consumers in Finland are choosing to reduce their outings to restaurants, cafes, and bars first, according to Miika Lipiäinen, a professor of experiential economy at the University of Tampere. He notes that especially in Finland, people easily let go of communal joys, which he views as unfortunate.

Recent reports indicated that an unusually high number of restaurants have closed this year, with consumer purchasing power being a contributing factor to the struggles faced by restaurant owners. Timo Lappi, CEO of the hospitality industry organization Mara, suggests that improving consumer purchasing power and confidence in the economy would be the best solution for the sector.

Lipiäinen observes that dining out is often seen in Finland as a non-essential activity compared to cooking at home. This mindset may stem from the belief that one can simply prepare meals at home, diminishing the urgency to dine out. He stresses that visiting a restaurant is not just about consuming food and drinks; it encompasses the overall experience of ambiance, social interaction, and community building.

He does not advocate for excessive consumption but highlights the importance of experiences in fostering community ties, especially relevant as the festive season approaches.

Lipiäinen also contrasts Finnish pub culture with that of other countries, noting that in Finland, pubs are often associated primarily with alcohol consumption rather than as vibrant, communal spaces like in the UK, Italy, or France.

Ultimately, he believes it is essential for Finnish society to rethink its approach to socializing outside of the home. The emergence of a new academic chair in experiential economy at the University of Tampere aims to explore the role and potential of this sector in Finland, encompassing various fields such as events, culture, entertainment, sports, and hospitality.