Nearly 163 million people, 64 percent of adults, spend on dining at least once a week, according to a recent ICSC survey. With an average weekly spend of $71, dining expenditure exceeds $602 billion a year. Almost 50 percent of adults say that dining out is an essential part of their lifestyle.
“Dining options have grown significantly in recent years as millennials seek experiences and baby boomers become empty nesters,” said Tom McGee, ICSC president and CEO. “In the last five years, the sector has added over 1 million jobs and increased its share of GLA by 1.3 percentage points.”
The survey found that the top reason for dining out is convenience. Busy consumers are looking for ways to save time and energy. In fact, 72 percent of people with children at home spend on dining at least once a week, and 41 percent say they are dining out more often than two years ago.
