Consumer Spending Favors Fast Food

By Shawn Ward, Geezeo Co-Founder

Many people are spending more at restaurants despite the recent economic crisis.

While eating out is typically one of the first expenses cut -- whether it's skipping the morning coffee or the night out on the town -- the fast food sector is holding up surprisingly well.

Customers visiting Dunkin Donuts, Panera(PNRA) and McDonalds(MCD) have increased their average monthly outlays by more than 10% from March to September, according to the new Main Street Spending Index compiled by Geezeo, a personal finance Web site that helps consumers track their spending.

For September alone, consumer spending at restaurants tracked by Geezeo is up more than 5% compared with August.

Dunkin Donuts has seen the largest growth of the three companies. Although average spending per visit remains relatively stable at between $5.42 and $5.57, the gains reflect an increase in customer loyalty and repeat visits.

The average customer went to Dunkin Donuts 3.92 times during September, up 24.4% from the 3.15 visits in March, resulting in a $21.82 average monthly spend.

Of the major restaurants tracked on the MSSI, only P.F. Chang's(PFCB) showed a decrease in average monthly customer spend from $50.50 in August to $50.11 in September.

Geezeo's Main Street Spending Index tracks more than 4 million consumer transactions from 800 companies doing business in the United States and Canada. Market segments include retail, dining out, entertainment, household and utilities. Data is anonymously collected weekly and based on up-to-date bank information.

To view the full index and see how other stocks are performing, click here: Main Street Spending Index.

For more information about Geezeo or to track your own expenses and find ways to save, visit www.geezeo.com. More than half of people using Geezeo's free budget tools are saving an estimated $1,200 annually.