Study: Millennials spend lots of money at restaurants

KUSA - Millennials right?! With their lack of home ownership, ruined relationships due to the contentious election and pervasive love of avocado toast, perhaps it should come as no shock that they spend more of their income at restaurants than their parents.

Or maybe not – depending on how many articles about millennials you read on any given day (side note: if you read a lot about millennials, that’s very millennial of you).

That’s according to the Food Institute’s analysis of USDA food expenditure data from 2014. The numbers show that millennials spend 44 percent of their food dollars eating out.

POLL: How often do you eat at restaurants? 

That’s almost $3,000 a year! Do you know how many pieces of bread with avocados mashed on them that buys? ACCORDING TO SOME INTERNET PEOPLE, YOU COULD BUY A HOUSE WITH THAT. 

As for baby boomers, they spend 40 percent of their food budget on restaurants.

If you’re in the restaurant industry, here’s some encouraging news: Millennials are on pace to spend even more money eating out in the years to come.

Their restaurant spending rose 10 percent from 2010 to 2014. 

Copyright 2016 KUSA


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