Millennials splurging on steaks and wine are fueling NYC's indoor dining scene
- Millennials are driving the
indoor diningscene in New York City, reported Bloomberg's Kate Krader.
- Deprived of the experience, they're splurging on dinners and sending checks and tips higher.
- Dining is slowly rebounding, but
service workersare still at risk.
Restaurant owners in the city told Bloomberg's Kate Krader that although many diners still prefer outdoor dining, young adults are more likely to eat inside - and they're splurging while doing so.Nearly a year of restaurant deprivation and a decline in restaurant hopping amid restrictions is causing the cohort to shell out for high-priced items like steak, wine, and tasting menus, sending check averages and tips on the climb, restaurateurs told Krader. Tip averages increased from from 19% to 21% at Il Buco and Alimentari, she reported.
March has already seen an improvement in dine-in demand, per UBS, while BofA predicts more people will flock to restaurants when restrictions get lifted and upon vaccine rollout and better weather. "There is a significant amount of pent-up demand to eat out again as consumers are tired and bored of cooking at home," states Bank of America.Indoor dining in NYC resumed on February 12 (it's currently at 35% capacity), and millennials are fulfilling both banks' forecasts. But their spending may not be enough to save the restaurant industry, Krader reported, or those who work in it.
A struggling service industry
Service workers have been hit hard during the pandemic. While food services saw some notable increases in employment in February 2021, bar and restaurant jobs are still down by around 2 million since the start of the
Demographically, those workers have disproportionately been women and people of color - a continued trend of some of the most vulnerable workers being the hardest hit. In December, Eater reported that indoor dining was the "fastest growing" source for the spreading of
While New York City restaurant workers are now eligible for vaccines, The City reported that many were struggling to secure a coveted slot before restaurants reopened for indoor dining.
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