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Affluent Consumer Insights - Wealthy Consumers Plan Less Restaurant Spending in New Survey Marketing Articles | May 28, 2009
Spending for dining at upscale restaurants is to be reduced by 54% of the affluent consumers and to be increased by only 2% of the affluent consumers. The survey respondents indicated a negative 12 month outlook for business conditions and personal household income.
Record low levels of spending for dining out in both casualfamily restaurants and upscale restaurants is suggested by the most recent survey in a series of twice-yearly studies that began in Spring 2002.
Negative attitudes about the current economy and the economic outlook for the next 12 months are contributing to plans for reducing restaurant expenditures by affluent consumers during the next year Cheap Joshua Dobbs Jersey , according to the Affluent Market Tracking Study#15 conducted by the American Affluence Research Center.
In the Spring 2009 survey of the wealthiest 10% of all U.S. households, spending for dining at casualfamily restaurants during the next 12 months, in comparison to their spending for such items during the past 12 months Cheap Cameron Sutton Jersey , is to be reduced by 29% of the affluent consumers and to be increased by only 7% of the affluent consumers. The remainder (64%) expects to spend the same for dining at casualfamily restaurants during the next year as in the past year.
Spending for dining at upscale restaurants is to be reduced by 54% of the affluent consumers and to be increased by only 2% of the affluent consumers. The remainder (44%) expects to spend the same for dining at upscale restaurants during the next year as in the past year.
To reduce expenses for dining out, the affluent consumers are most likely to eat out less frequently and to dine at less expensive upscale restaurants compared to the prior 12 months. Other methods for reducing restaurant expenditures are dining more often at casualfamily restaurants and spending less for wines and liquor when dining out.
The survey respondents indicated a negative 12 month outlook for business conditions and personal household income. They also reported declines in their net worth, as a result of substantial declines in the value of their home and their investmentssavings during the past two years. Together Cheap Joe Haden Jersey , these factors have contributed to a general attitude toward reducing or deferring expenditures in all areas. The intentions to reduce expenses for dining out are consistent with the overall mood. Cheap Jerseys Wholesale Jerseys China Cheap Jerseys From China Cheap Jerseys Free Shipping Cheap NFL Jerseys Wholesale NFL Jerseys Cheap NFL Jerseys China Cheap Nike NFL Jerseys Wholesale NFL Jerseys China Cheap Jerseys