Upper Class and fast food-Kyle Davis

A recent American express study has shown that the “ultra-affluent” consumers have increased their spending on fast-food by 24%. Ultra-affluent is defined as someone who charges 7000 a month on their card and meet certain income requirements. These consumers have also increased their fine dining expense but are still showing signs of saving money. This agrees with how the economy is doing. The economy is recovering but still is bad which means people are becoming better off financially but not to a large degree.

"Subconsciously, I think I'm saving money by spending less on food, but my spending somewhere else must be going up, because the amount on my credit card is not going down”

Fast-food is the only portion of the restaurant industry which has seen increases during the recession. I think its interesting that even the upper class are subconsciously reducing their spending in aspects of their lives. The article brings up the point that their luxury spending is increasing on things like plane tickets and luxury hotels but they still have increased their spending on fast-food and retail shopping. Its interesting that this increase in lower end expenses makes the upper class consumers feel as thought they are watching and limiting their spending.

http://online.wsj.com/article/SB10001424052748703431604575522080669507478.html?KEYWORDS=fast+food