My back of the envelope / rudimentary assessment of the industry’s predicament.
Over the last 20 years wages for new college grads has almost doubled (excluding the new techie elites), otoh sit-down restaurant tabs have almost tripled/quadrupled… the fast casual explosion & other cheaper alternatives offers an opportunity to right size one’s dining-out expense relative to wage growth. At the expense of sit-down restaurants.
I’m not finished with this article (so much good info) but am loving it. It puts into words a lot of things I think about the biz and try to express but don’t have the expertise or knowledge to convey.