Two weeks ago, I blogged and did a video about the report that Millennials are “killing” casual dining restaurants. The whole idea sounded like something made up by a fired Fridays manager.
Well, today, we got some new information that’s a real head-scratcher: Now Millennials are spending too much money eating out!
The new information comes from a survey by BankRate. And they at least had the sense to let a Millennial break the news to her fellow Millennials. Apparently Millennials money woes shouldn’t be blamed on avocado toast at all, it’s all the happy hours. (The Yahoo Finance article the video comes from had additional commentary on it as well.)
(Aside: Is she talking to me? Born 1977, am I Gen X, Millennial or a damn Xennial? I can’t freakin’ tell! Can we please make up our minds at least about this? Studying generations is like discovering a very uncomfortable version of time travel at 40. Like trying to Instagram while spinning in one of those old, banned metal merry-go-rounds. … I do not cook at home a lot.)
Let me tell you folks, I am SHOCKED!
Every time one set of data comes out saying this is what Millennials are and the impact they’re having, just wait a couple weeks and a new set of data will say the opposite.
So, are they killing restaurants or keeping them in business? And if they’re out eating and drinking multiple times a week, but classic bar and grills can’t bring them in, is the younger adults’ faults?
One thing’s for sure: They are spending money. In fact, judging from that video, Millennials are spending money more freely than just about any generation in history. So if you’re not getting a piece of that, that’s on you.
One other thing I’m sure of: Even though almost all the Millennials are out in the workforce now, a lot of corporate America and the researchers feeding them data still don’t know Jack about who this generation really is or how to reach them. (“Us”? I still can’t tell.)