You are probably tired of seeing the term millennial in headlines. We don't blame ya!
But as a marketer or operator, millennials are likely part of your target demographic. This segment of the population will soon have the greatest buying power, so its no wonder we are trying to predict their every move.
According to a recent report from "CNBC," there has been a shift in where consumers are choosing to spend their money.
"It stands out as a bit unusual how soft restaurant spending has been considering where we are in the business cycle," said Michelle Meyer, head of U.S. economics at BofA Merrill Lynch to "CNBC." "The consumer should be spending more on a broad range of items. But we've seen restaurants slowing more akin to a recessionary environment."
Part of the reason restaurant sales have been slowing down is because millennials are spending their money in other markets instead.