Are You a Big Tipper? Survey Shows Age Matters

Who are better tippers in restaurants, older or younger diners? You might be surprised, reports a new survey – 30 percent of those 18 to 34 admit they usually skimp on their tip, while nearly all customers age 65-plus say they tip the expected 15 to 20 percent. The survey from French company Michelin, publisher of well-known restaurant guides, found that on average, Americans tip 18 percent for good service after dining out, slightly less than the 19 percent a …

Boomers Turn the Tables in the Restaurant Industry

In the restaurant business, the conventional wisdom used to be that attracting young adults was the surest road to profit, because people invariably tended to dine out less as they got older. But boomers, an iconoclastic generation that’s refuted so many other age stereotypes, are upending the old equation. A recent study by NPD Group shows that visits to commercial food establishments – both restaurants and “snack” establishments such as coffee shops – by customers 65 and older have grown nearly …

Study: Older Workers Spend Less. And You?

I knew it! And now there’s another new study that backs me up. I’ve always suspected that young people – not just today, but in past generations as well – are less likely than their elders to appreciate the value of a dollar. In fact, I contend that increased frugality is a natural, subconscious part of aging.* The latest study to support my theory of aging thriftily was released this month by the recruiting and staffing firm Accounting Principals. Among …