Generation Y Are You Dining Out So Much?
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Jupiterimages/Thinkstock(NEW YORK) — Members of Generation Y, otherwise known as millennials, may not have a lot of disposable income but that doesn’t mean they can’t live the good life every now and then.
In fact, research firm Technomic says that 42 percent of this crowd, who began being born around 1982, will visit upscale casual-dining restaurants at least once a month. That’s compared to 33 percent of their immediate Gen X predecessors and 24 percent of Baby Boomers.
So what gives? While it’s true that members of the older generations make more money, especially during these tough economic times, millennials aren’t typically saddled with things like mortgages, kids, double car payments or adult children forced to live with their parents.
Therefore, they’re a little freer to enjoy a nice restaurant, even as 43 percent who go out at least once a month are more apt to use coupons and discounts. Millennials will also take advantage of combo meals more often than older people.
Gen Xers and Baby Boomers are also inclined to be homebodies because they’ve developed a talent some younger folks haven’t yet — namely, how to cook for themselves.
As for the future, over half of millennials who’ve encountered a weak job market think the country’s financial situation will improve during the coming year, as opposed to 38 percent of the older crowd.
Copyright 2012 ABC News Radio