Friday, September 5, 2008

Overspending or Not?

Gone are the days when meeting up with friends for dinner simply means having a meal in the foodcourt or nearby coffeeshop. I feel that there has been an increasing trend which sees students, especially undergrads, dinning at more upmarket places like Cafe Cartel, Swensens, New York New York, NYDC, just to name a few, when eating out with friends. As a result, expenditures on meals have increased. Being one who is also guilty of this, I would like to research on this issue. To qualify as overspending on a meal, one would have to spend, on average, more than $15 on only a main course. My general research question in relation to this would then be are most undergrads overspending on a single meal when dinning out with friends?

My
hypothesis which follows would be:
Most undergrads overspend on a single meal when dinning out with friends.

The most crucial part of this research would be to conduct an
attitudinal survey to find out how much, on average, an undergrad would spend on a meal when eating out with friends. The survey would be a fairly simple one, which compromises 2 main questions: where they usually eat and how much they usually spend on average on a single meal. A simple survey like this is important for one to guage if a student actually overspends by means of the qualifiers as mentioned above.

The objective of this study
would be to determine if dinning outlets frequently patronised by many of the undergrads should offer tertiary student discounts to them if they indeed are spending too much when eating out. This would help reduce the students' meal expenditures, as well as boost the business of these restaurants/cafes.

The
target readers for this study would then be the restaurant/cafe operators as well as the student unions of the various local tertiary instituitions. This is because the student union looks after the welfare of the students, and would be involved in the negotiation with the relevant operators to offer the undergrads discounts.

I feel the pinch when I spend up to $10 for a salad like this when I dine out with my friends. Just curious, are any of you like me too?















Image courtesy of Getty Images: http://www.gettyimages.com/

3 comments:

Chong Guan said...

Hi Joyce. I do admit that i am also one of those who overspends. Just yesterday, a meal i had came up to $50 per person and it burnt a huge hole in my pocket. With regards to your study, i think there are some restaurants that are offering tertiary students' prices but it is still expensive to eat out. Perhaps it has got more to do with the rising costs of living, for instance, a fast food meal can now cost around $10. Also, another reason why people dine at those upmarket places might be due to convenience. Those places usually offer table service as compared to food courts or coffeeshops. In addition, people might feel more comfortable dining in those places.

Cheers,
Chong Guan

Brandon said...

Hello Joyce, the issue you described is indeed real and I can pretty much relate to it. From what I’ve noticed, it does not only apply to tertiary students, but also those in the secondary level as they are often seen patronising these ‘upmarket’ dinning outlets. Although a number of restaurants such as Swensens, CafĂ© Cartel and Delifrance do offer student discounts during a specific period of the day, usually weekdays, I would still consider these prices high in my opinion. As the term ‘overspending’ is vague and subjective, it would be more accurate to allow participants to define ‘overspending’ by specifying a reasonable price range in the survey.

However, even if it could be proven that students are overspending, I feel that this would probably not be an immediate concern to the food and beverage outlets as it would mean compromising on their revenue. I feel that this could be a point we have to look deeper into.

miranda said...

Hey Joyce!
I am one hell of a spendthrift! It doesn't pain me when I spend $80 on a piece of clothing and I wouldn't mind paying $60 over dollars for food. (Well, I will feel the piercing pain after I have paid for the merchandise.)

It think that it is very much the aim of our country. Glorious food and endless shopping extravagances. This is one of the important ways for money to roll in. Just take a look at the offers given by the credit cards and retailers, who wouldn't be moved?

Anyway, I think what brandon said is correct. Overspent is vague. The definition of overspending should be defined. However, the problem is how do we judge whether our overspending is similar to theirs overspending?

Anyway, nice work!!