In the bustling streets of Manhattan, a food delivery messenger is seen carrying a take-out bag from Sweetgreen on a crisp September day in 2023.
Recent reports from high-income consumers have shown a surge in sales for Chipotle Mexican Grill, Wingstop, and Sweetgreen, defying the current consumer slowdown affecting other restaurants.
While the restaurant industry at large is experiencing a decline in sales and foot traffic due to reduced consumer spending, some major players like McDonald’s, Starbucks, and Yum Brands are feeling the pinch.
McDonald’s CEO is responding to the demand for value by introducing a $5 value meal, aiming to attract deal-seeking diners. Meanwhile, Applebee’s owner Dine Brands noted a significant drop in sales from customers with lower incomes.
Interestingly, fast-casual chains like Sweetgreen, Chipotle, and Wingstop are bucking the trend, showing growth in traffic and sales despite the challenging market conditions.
2024-05-11 06:00:01
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