Empty nesters to have heavy impact on restaurant industry.
About 82.8 million people, or 29% of the population, were born during the baby boom from 1946-1964. Now ranging from 41-59 years old, many of these adults are entering the "empty nest" phase of their lives, which NPD defines as couples ages 45-65 with no children under 18 years old still living at home. Now that their kids are out of the house, this group has more discretionary time and income. People visit restaurants less as they grow older, and although Baby Boomers may be going out less their absolute numbers are bigger. Empty-nesters represent per-person spending of nearly $1,300 a year, vs. the national average of $884.
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|Title Annotation:||Food service|
|Comment:||Empty nesters to have heavy impact on restaurant industry.(Food service)|
|Publication:||Frozen Food Digest|
|Article Type:||Brief Article|
|Date:||Oct 1, 2005|
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