{"id":284342,"date":"2011-02-28T10:57:22","date_gmt":"2011-02-28T10:57:22","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/28\/rich-americans-flock-to-fast-food\/"},"modified":"2011-02-28T10:57:22","modified_gmt":"2011-02-28T10:57:22","slug":"rich-americans-flock-to-fast-food","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/28\/rich-americans-flock-to-fast-food\/","title":{"rendered":"Rich Americans flock to fast food"},"content":{"rendered":"<p><div readability=\"112.994043887\">    <!-- KEEP --><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/14a504fafood.ju_.top_.jpg\" alt=\"Wealthy Americans increase fast food spending\" width=\"475\" height=\"324\" border=\"0\" class=\"cnnstoryImageFull\" \/><span><b>The fast-food business has a new fan base: Wealthy Americans looking to cut costs.<\/b><\/span><span id=\"fb-recommend\"\/><br \/>\n<span>By Jessica Dickler, staff writer<\/span><span>February 28, 2011: 5:40 AM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK (CNNMoney) &#8212; When it comes to cutting back, the rich are learning a little secret the rest of us have always known: fast-food is cheap and good (if not good for you).<\/p>\n<p>Quick service restaurants, such as McDonald&#8217;s and Subway, saw a bigger rise in spending by ultra-affluent consumers than any other restaurant type last year, according to the most recent data by American Express Business Insights.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>Lori and Santiago Riviere are among those that have recently been turned on to fast-food dining. <\/p>\n<p>They call themselves &#8220;dinks&#8221; &#8212; as in dual income no kids. She&#8217;s an attorney, he works in finance and together they make &#8220;well over six figures.&#8221; Still, she says the recession has changed her mindset about spending.<\/p>\n<p>&#8220;Dining out on a daily basis was completely normal for us,&#8221; she says. &#8220;Now we eat in or get some form of take out of less expensive food.&#8221; <\/p>\n<p>Their economical dinner of choice: Chipotle or Baja Fresh.<\/p>\n<p>&#8220;Instead of going to a restaurant and coming out with a $75 bill you come out with a $25 bill,&#8221; said Riviere. &#8220;Tipping comes into consideration, too.&#8221;<\/p>\n<p>Riviere says they order take out most evenings instead of dining out in order to save some extra money for luxury goods. <b> <\/b><\/p>\n<p>&#8220;I think it&#8217;s a sacrifice, but when you have to choose between that and a pair of Jimmy Choos, I&#8217;m going to choose the Jimmy Choos.&#8221;<\/p>\n<p>In the aftermath of the Great Recession, even the <a href=\"http:\/\/money.cnn.com\/2011\/02\/22\/news\/economy\/income_inequality\/index.htm\">wealthiest Americans<\/a> are making similar trade offs to curb spending. <\/p>\n<p>In the fourth quarter of 2010, spending on fast food increased 4% among American Express&#8217; most affluent customers, or the top 10% of spenders, the AmEx survey said. Meanwhile, spending on casual dining decreased by 4%. <\/p>\n<p>&#8220;As the economy continues to recover, affluent consumers are showing restraint in spending in some areas, but not others,&#8221; explained Ed Jay, senior vice president of American Express Business Insights. <\/p>\n<p>Jay says that affluent consumers exhibited a &#8220;return to value&#8221; during the recession and are still demonstrating frugal behaviors where possible, like spending more at fast-food restaurants.<\/p>\n<p>&#8220;As wealthy consumers scaled back on consumption overall they started to go to more value or price oriented restaurants, and frankly chains,&#8221; added Milton Pedraza, the CEO of the Luxury Institute, which tracks spending among wealthy consumers with a minimum annual income of $150,000. <\/p>\n<p>&#8220;No one will do without their iPhone or iPad, and very few people want to forgo travel, but there are other categories that are not priorities,&#8221; he said. Particularly when it comes to dining, &#8220;people have been making trade offs.&#8221;<\/p>\n<p>Meanwhile, popular economical chains like McDonald&#8217;s are lovin&#8217; it.<\/p>\n<p>Danya Proud, a spokeswoman for McDonald&#8217;s says the company credits its recent growth in part to the addition of McCafe beverages, which include cappuccino, mocha and latt\u00e9 drinks clearly geared toward a more refined palette.\u00a0<a href=\"http:\/\/money.cnn.com\/2011\/02\/28\/pf\/wealthy_fast_food\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/14a504fafood.ju_.top_-150x150.jpg\" \/><\/p>\n<p>See the rest here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/D9u67K_NgHg\/index.htm\" title=\"Rich Americans flock to fast food\" rel=\"noopener noreferrer\">Rich Americans flock to fast food<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> The fast-food business has a new fan base: Wealthy Americans looking to cut costs. By Jessica Dickler, staff writer February 28, 2011: 5:40 AM ET NEW YORK (CNNMoney) &#8212; When it comes to cutting back, the rich are learning a little secret the rest of us have always known: fast-food is cheap and good (if not good for you)<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-284342","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rich Americans flock to fast food - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/28\/rich-americans-flock-to-fast-food\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Rich Americans flock to fast food - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The fast-food business has a new fan base: Wealthy Americans looking to cut costs. 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