ARI SHAPIRO, host:
And today’s last word in business is gold finger-licking good.
A new study by American Express found that ultra-affluent consumers have spent nearly 25 percent more on fast food this year compared to last. The company defines ultra-affluent as those who charge more than $7,000 a month on their credit card. So converting that to Chicken McNuggets, these are people who could’ve charged about 20,000 Chicken McNuggets a month on their card.
American Express says even the wealthy are trying to cut back these days, just not on calories. It also found that spending was up on fine dinning, but not by nearly as much.
And that’s the business news on MORNING EDITION from NPR News. I’m Ari Shapiro.
STEVE INSKEEP, host:
And I’m Steve Inskeep.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.
Its counter intuitive! for those of us who spend more than $7 K a month average on our amex, their spending increases on fast food numbers. That means they take their voting dollars to the big box and that is money not spent in locally owned small businesses or on locally sourced produce and veggies in their markets.