Millennials Dine Out a Lot.
Are They Spendthrifts?

New data signals lots of restaurant meals

Author: Monica Melton

June 26, 2017

A new study added to the evidence that millennials dine out more often than older consumers.

A Bankrate survey found that 22% of those 18-29 dine out or get takeout food seven times a week or more. Less than 10% of those over 50 say the same. The average millennial dines at a restaurant or buys take-out food five times per week, Bankrate said.

Bankrate also noted that 29% of millennials go out for coffee three times a week or more, and that 42% of millennials go to a bar at least once a week.

The Bankrate data is the latest in a string of studies pointing up what might be called spendthrift millennial habits. Bankrate referred to these expenses as “financial vices.”

But millennials’ financial practices are a mix of frugality and splurges. A June 2017 survey by Acosta, a CPG consultancy, found that 51% of millennials said they look for coupons or offers online for restaurants, compared with 44% of Boomers. (Gen X respondents were even more likely to do so, at 57%.)

And a study from InMarket suggested that millennials have a distinct preference for discount options when it comes to brick-and-mortar shopping. The study, based on an analysis of foot traffic to physical stores, found that millennials overindexed for discount chains like Ross Stores, Kroger's Food4Less and 99 Cents Only Stores.