Third places are out, as prices rise. Hosting dinners, craft nights, and book clubs are in.
Rising costs of living are driving a shift in social habits, with people moving away from expensive 'third places' like restaurants toward hosting gatherings at home. This trend reflects broader economic pressures affecting discretionary spending.
Why it matters
It illustrates how inflation is fundamentally altering social structures and the hospitality industry's business model.
Emily O'Brien and her friends have been meeting up for book club every month for roughly a year. Rachel Wisniewski for BI Emily O'Brien, 26, said in mid-July that she had about 200 pages to go in "Just for the Summer" by Abby Jimenez, before attending book club at a friend's place the following week. She loves attending the monthly meet-up, which friends take turns hosting at their homes in Philadelphia, a tradition they started roughly a year ago. She finished what she needed to read before gathering with her friends on a rooftop. Talking about the book is less important than making sure the friends meet every month to catch up without breaking the bank, she said. "It's paying off more so than just an occasional dinner would, in my opinion, because you're also sitting there and you just need to talk to one another," O'Brien said.
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