Millenials Ruining Restaurants with Their Careful, Cost-Conscious Eating Habits
Restaurant visits are slipping and guess who they're blaming? Millenials. It's turning out that 18-to-30-year-olds just aren't going to restaurants much. Fifty to 60 million of these young people are going out to restaurants far less than baby boomers did at that age, according to Stephanie Strom. And restaurants are hurting. Strom reports that research has shown that "restaurant visits among millennials have fallen 16 percent over the last four years, failing to pick up even as the economy has improved. The outlook for the restaurant industry over the next 10 years is dismal,” Bonnie Riggs, a restaurant industry analyst at a consumer marketing firm, told Strom. Sales are expected to grow less than 4% in the next 10 years for places like McDonald's and even fast-casual outlets like Chipotle, a very bad thing for restaurants. In fact, McDonald's sales in stores open a year fell 1.2%, after rising every quarter for almost the last decade...