top of page
  • Writer's pictureThe Show Circuit

Growth in Higher-Income Households Bolsters Restaurant Sales

According to the National Restaurant Association, the number of households with income above $100,000 jumped 29% during the last seven years. That's got to be positive news for beef demand, as well.

Higher-income households are critical drivers of growth in the restaurant industry. According to data from the Bureau of Labor Statistics, households with annual income of at least $70,000 were responsible for 63% of total restaurant spending in 2018. This despite representing only 40% of all households in the United States.

The good news for restaurants is that the number of higher-income households rose steadily in recent years. According to data from the U.S. Census Bureau, there were 39.1 million households with annual income of $100,000 or higher in 2018. This was a record high, and represented an increase of 29% from the 2011 level, after adjusting for inflation.

Households in the $75,000-to-$99,999 income bracket were the second-fastest growing category in recent years, with their numbers rising 12% between 2011 and 2018. In total, there were 10.5 million more households with income above $75,000 in 2018 than there were in 2011, after adjusting for inflation.

The recent steady upward trend is important, because the number of higher-income households shrunk as a result of the Great Recession. After reaching a cyclical peak in 2007, the number of households with income of at least $100,000 fell 6% by 2011. During the same four-year period, the number of households in the $75,000-to-$99,999 income bracket declined 3%.

If the positive trend in higher-income households continues, it bodes well for restaurant sales growth in the years ahead.


Recent Posts

See All

NWSS Collegiate Livestock Judging Results

CONGRATULATIONS FROM THE SHOW CIRCUIT... Collegiate Livestock Judging Results: SENIOR COLLEGE 1) Texas Tech 2) Kansas State 3) Texas A&M High Individual: Braeton Kimble, Texas Tech


bottom of page