3%? That’s terrible.
Think about the article though. What’s the first thing people cut back on when money is tight? Restaurants. Eat at home to save money.
They’re the canary in the coalmine.
I was going to comment but you nailed it succinctly.
Yep! In the summer of 2007 my stepdad, a restaurant operator said, and I quote: “Jeez this economy is rotten. Do you guys not see how bad things are? Sales are down double digits over the last two quarters at the restaurant!”
Everyone else laughed. They were busy cashing the equity out of their homes for that summer vacation or a boat or some other stupid thing they didn’t need that ended up putting them upside-down.
restaurants, yep. bars. most things entertainment related.
i can make a lot of dishes at home that taste better than what I get at restaurants.
if its not critical/vital spending, it is the first to be pared back.
We are unbelievably spoiled, that's what.
People don't want to eat at home because SOMEONE has to get into the car, drive to the market, SHOP for the food, drive home, lug the bags upstairs, put the groceries away AND then finally prepare the meal.
Then there are the dishes to do, that is, put them into the dishwasher, put soap in the dishwasher, start the machine...THEN empty the dishwasher AND put the dishes away.
Sigh, just TOO much for a girl to do!
WHY, o WHY do all that when we can just GO OUT and get all that done for us?
Lol. Are we SPOILED or what?
That and the service is terrible these days. What’s supposed to be cold is hot and what’s supposed to be hot is lukewarm at best...
These chains hire the dregs of the millennials
I had a brass shop through the 90s. I never got rich but it provided an okay living. When the economy took just the least dip my business totally dried up and I shut it down. That sort of a shop is pure luxury work in that no one has to have it. It’s not like appliance or auto repair. I didn’t lose any money and didn’t owe anybody when I closed it but obviously it wasn’t going to make any more money.
Almost as bad as an Uber Driver's net.
If I take the fam out, it’s $100 even for a simple deli dinner. I can make a gourmet dinner at home for half that.