Restaurant spending among gens is shifting. For years, young consumers have been driving spending at restaurants, but a recent shift shows a decline in their average per-visit spending. Meanwhile, older gens like Boomers have increased their spending, closing the gap and in some cases surpassing younger gens. A recent PYMNTS study found that older gens are more likely to reduce their restaurant visits when faced with inflation, while Gen Z and Millennials are more likely to opt for cheaper restaurants—like fast food. Gen Z consumers spent an average of $43 per restaurant visit in March 2022, but dropped by 21% to $34 by May 2024, while Boomers and seniors’ average spend increased to $35. (PYMNTS)
