Abstract
In the harsh economy situation, consumers spend less because their household wealth is contracted. This study investigated how household wealth consisting of housing asset, financial asset, and income has influenced food consumption and sales of full service restaurant and quick service restaurant. The study analyzed the data from Bureau of Economic Analysis and Compustat ranged from 4th quarter of 1999 to 4th quarter of 2008. The study found that income is the only significant predictor for the food consumption among other household wealth, while in restaurant, three components of household wealth have significant impact on sales of quick service and casual dining restaurant.
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