| Spending for dining at upscale restaurants is to be | | | | family restaurants and spending less for wines and |
| reduced by 54% of the affluent consumers and | | | | liquor when dining out. |
| to be increased by only 2% of the affluent | | | | The survey respondents indicated a negative 12 |
| consumers. The survey respondents indicated a | | | | month outlook for business conditions and |
| negative 12 month outlook for business conditions | | | | personal household income. They also reported |
| and personal household income. Record low levels | | | | declines in their net worth, as a result of |
| of spending for dining out in both casual/family | | | | substantial declines in the value of their home and |
| restaurants and upscale restaurants is suggested | | | | their investments/savings during the past two |
| by the most recent survey in a series of | | | | years. Together, these factors have contributed |
| twice-yearly studies that began in Spring 2002. | | | | to a general attitude toward reducing or deferring |
| Negative attitudes about the current economy | | | | expenditures in all areas. The intentions to reduce |
| and the economic outlook for the next 12 months | | | | expenses for dining out are consistent with the |
| are contributing to plans for reducing restaurant | | | | overall mood of the affluent. |
| expenditures by affluent consumers during the | | | | The survey is representative of the population of |
| next year, according to the Affluent Market | | | | the most affluent 11.2 million households in the U.S. |
| Tracking Study#15 conducted by the American | | | | that account for almost 40% of total personal |
| Affluence Research Center. | | | | income and two-thirds of the personal wealth of |
| In the Spring 2009 survey of the wealthiest 10% | | | | all Americans. |
| of all U.S. households, spending for dining at casual | | | | The 640 men and women included in the national |
| family restaurants during the next 12 months, in | | | | survey have an average annual household income |
| comparison to their spending for such items during | | | | of $290,000, an average primary residence value |
| the past 12 months, is to be reduced by 29% of | | | | of $1.2 million, an average net worth of $3.1 |
| the affluent consumers and to be increased by | | | | million, and average investable assets of $1.4 |
| only 7% of the affluent consumers. The | | | | million. This survey of the affluent market has a |
| remainder (64%) expects to spend the same for | | | | maximum margin of error of five percentage |
| dining at casual/family restaurants during the next | | | | points at the 95% confidence level. |
| year as in the past year. | | | | These surveys track how affluent consumers |
| Spending for dining at upscale restaurants is to be | | | | assess current business conditions and their |
| reduced by 54% of the affluent consumers and | | | | 12-month outlook for the economy, the stock |
| to be increased by only 2% of the affluent | | | | market, personal household income, and their |
| consumers. The remainder (44%) expects to | | | | spending plans for different products and services |
| spend the same for dining at upscale restaurants | | | | that include major appliances, home computers, |
| during the next year as in the past year. | | | | furniture/furnishings, home entertainment |
| To reduce expenses for dining out, the affluent | | | | equipment, casual and upscale dining out, |
| consumers are most likely to eat out less | | | | entertainment, recreation, domestic and |
| frequently and to dine at less expensive upscale | | | | international travel, designer and non-designer |
| restaurants compared to the prior 12 months. | | | | apparel, collectibles, fine jewelry, and political and |
| Other methods for reducing restaurant | | | | charitable contributions. |
| expenditures are dining more often at casual | | | | |