A new research study from the venerable NPD Group is reporting that young adults--those of Generation Y, are cutting back on dining out.
Gen Y were hit hard by the recession, with a nearly 20% unemployment rate. And in turn, they're pinching their pennies and finding cost-effective ways to consume.The study says that between May 2008 and May 2010, annual per-capita meal and snack occasions dropped from 242 to 216 for those ages 18 to 24. Those between the ages of 25 to 34 decreased their dining out occasions from 257 to 238 during the same period.
National Restaurant News reports that Besides watching their budget, “young adults are also looking for healthier and lighter menu items, convenient locations, and good customer service,” said Kim McLynn, a NPD spokeswoman. “These ‘needs states’ of young adults are evidenced in the types of restaurants they have cut back on visiting, such as QSR hamburger and QSR pizza.”