Is the Restaurant Industry Going Stale?
It is no secret that America loves to eat. The nation is the most gluttonous country in the world, with more than a third of its citizens being classified as obese. While this trend does not appear to be going on a diet anytime soon, recent studies suggest that restaurants will need to be mindful of slimmer wallets.
From celebrating a special occasion to simply taking a break from cooking at home, people enjoy eating out. However, eating habits have yet to fully recover from the greatest financial crisis since the Great Depression. According to the NPD Group, a leading global information company, restaurant traffic at over 61 billion visits in 2012 is still below pre-recession levels, as almost three of every four Americans consider themselves “cautious and controlled” in their spending habits.
Many consumers have less confidence in their government and employers. Furthermore, the recently imposed payroll tax increase, which affects the majority of Americans bringing home a paycheck, is hitting wallets and waistlines…