Monday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
Poll: 48% say grocery costs eat up majority of budget
In a recent survey of 1,800 U.S. adults, 48% said their grocery costs are eating up the majority of their monthly budget, followed by utility bills and credit card debt.
Gen X is spending the most on groceries, according to the poll from Usertesting and OnePoll.
The study also revealed that when it comes to finances and banking, people across all generations prefer a human touch — 83% said they prefer using a physical bank for their financial needs.
U.S. airlines reported nearly $7B in baggage fees in 2022
U.S.-based airlines had baggage fee revenue of more than $6.7 billion last year, according to the U.S. Bureau of Transportation statistics.
American Airlines alone earned almost $1.4 billion from checked bags, accounting for more than 2% of the carrier’s full-year revenue.
For decades, most bags flew for free, but in recent years, baggage fees have surged.
U.S. airlines hauled more than 470 million passenger bags in 2022.
Live Nation posts record revenue in Q1
Live Nation posted a record $3.1 billion in revenue – up 73% from last year – in the first quarter of 2023, despite possible regulation and tremendous fallout from botched Ticketmaster sales for Taylor Swift’s “Eras” tour.
The ticket-industry giant said more than 19 million people attended events across 45 countries in the first quarter of this year.
Many venues and markets opened fully for the first time since the global pandemic began in 2020.
Getting prescription meds via telehealth may change soon
The expansion of telehealth has made care more accessible for many people, especially those in rural areas, and patients have been able to receive prescriptions from providers without seeing them in person.
But that may change on Thursday when the federal government is set to end the COVID-19 public health emergency that made this convenience possible.
Report: More Americans are hitting the buffet
In March, visits to three leading buffet restaurants — Golden Corral, Cici’s, and Pizza Ranch — were up 125% from January 2021, according to data from placer.AI, which tracks foot traffic at restaurants and stores.
Analysts say the boom in buffets is due in part due to financial strains on consumers and diners are looking for value.