It’s easy to forget about lower-income consumers, but the restaurant industry takes a risk when it does.
Anecdotal evidence suggests that lower-income consumers have cut restaurant spending as chains aggressively increased prices, and as grocers simultaneously reduced their food prices. In August, grocery prices fell 1.9 percent, according to federal data. Restaurant prices rose 2.8 percent. That marks a significant 4.7-percentage-point gap.
Meanwhile, restaurant traff
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Contact: Desiree Torres [email protected]