Casual dining is in danger — and Millennials are to blame.
Brands such as TGI Fridays, Ruby Tuesday, and Applebee’s have faced sales slumps and dozens of restaurant closures, as casual-dining chains have struggled to attract customers and increase sales.
“Casual-dining restaurants face a uniquely challenging market today,” Buffalo Wild Wings CEO Sally Smith recently wrote in a letter to shareholders.
According to Smith, these sit-down restaurants’ struggles can be blamed on a frequently besmirched generation: Millennials.
“Millennial consumers are more attracted than their elders to cooking at home, ordering delivery from restaurants, and eating quickly, in fast-casual or quick-serve restaurants,” Smith wrote.
While blaming Millennials has become a trend to the point of cliché in retail, Smith isn’t wrong to zero in on younger customers’ changing tastes as a major factor in casual dining’s downfall.
“Now there’s many, many options that people are replacing chains with,” Victor Fernandez, the executive director of insights at the restaurant-industry tracker TDn2K, recently told Business Insider.
Many of these options involve…[read full article at Business Insider]