Restaurant Sales Tanked In January
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- Опубліковано 23 сер 2024
- Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses how fine and casual dining is doing with securing jobs and how inflation is changing the way people are going out to dinner. He spoke with Paul Sweeney and Bailey Lipschultz on Bloomberg Radio.
It’s not that our household can’t afford to eat out. We’re just choosing not to. I’m officially tired of paying these inflated prices on everything. We’ve cut back on events, concerts, dining, etc. The price of things now steals your joy. Consumers can have some affect on this mess if we all choose to make better purchasing decisions.
Helps to just stop looking at the price and just acknowledge that 'the new price is the price'. Hopefully your salary increased enough and you are in the same position before all the inflation.
@@brent4073that’s total BS. So just close your eyes and pretend the 9+ % overall inflation over the last 3 years and 15%+ on household good increases just is the “new norm”. Yes, I can afford it but it doesn’t make it right. Being ignorant doesn’t help and very, very few salaries have kept up with the pace of this rate of inflation. On what planet?
Same for us. I and my partner can afford to eat out but I don’t feel food in restaurants justify the costs. Instead, we only eat out the restaurants can offer dishes with unique tastes. If not, we’d just get groceries and make the tasty dishes at home.
@@brent4073our rents increased at multiples of inflation... (our pay did not)
I have reduced my eating out budget by 75%. I can easily afford to eat out at least once a week in fine dining restaurants, now I do it once a month. I have never been a fan of fast food irrespective of the cost because it is terrible for my health. I am also very turned off by tip-flation.
I have stopped eating out all together, since tipping became so ridiculous. I now enjoy cooking and eating healthy.
Yep and it’s also an excuse for restaurants to continue to pay their servers $2/hr
Yes!
The proliferation of these surprise auto gratuities, health insurance surcharges etc. on the check at more and more restaurants definitely deters me from eating out as much. I’m sure I’m not the only one.
@@citizenofcorona8783 Get educated and get a better job if you don't like the pay.
@@TheJayhawker83 You think education is still a pathway to a better future and not a crushing debt burden, that's cute.
- item prices up 20-30%
- portions shrinking
- charging for items that were free (especially on delivery)
- surcharges
- adding tipping to the bill at 22%+
- quality downshifts
It time for a mass shakeout
Agree. Our reasoning too.
Exactly.
Not to mention having only one or two servers doing everything
Applebees has the most egregious shrinkage. They need to use smaller plates so it isn’t so obvious
Agreeing with all of ya'll. It's just not worth it anymore. Well, we don't have as much money now, because I teach and my wages aren't keeping up. So, once we found out the three magic words, "Google Copycat Recipes" ... YYYYIIIIIIIPPPPPPPPPPPEEEEEEEEEE -- we were off to the races. We are not gonna eat out much anymore, unless it's very cheap & has coupons.
You can go out to an average restaurant (not even high end) and you spend over $100 without even knowing it. That's ridiculous.
Yup. We went to have a Sunday lunch/brunch at a decent (but not great) local restaurant. After tip it was $150 for two of us. Just not worth it. Should have been more like $80-$90.
I could not agree more with you, I just went to a dim sum restaurant. myself wife and my two kids and it cost $160 and we don't drink. All we had was water.
The tips killed it! Asking for tips when picking up food is rude.
It’s not just rude, it’s extortion both for the customer and the front line staff
Pick up is the only way to go and pay in cash. From there I tip British style, round up to dollar since coins are a nuisance.
@@citizenofcorona8783 It is rude. There is no requirement to tip. Tipping is voluntary.
What place is asking for tips when you pick up your food?
Yep. The real workers who ship and make the food aren't getting any tips.
Dining out on a Friday night used to be something to look forward to. Now I don't even consider it.
JUST SLEEP IN AND EAT ORGANIC SALAD AND FRUITS
Me too. Even fast food would cost a family of four people $68! When I think of how many meals I can make for that price in a grocery store it is a no brainier
@@user-zu3md5qz8y Organic is gimmick.
Absolutely... Nothing wrong with $5 chicken and $10 wine. Your date will be impressed by your frugal lifestyle while paying off your mortgage while saving up for Future retirement
$5 Costco Chicken And $10 Red Wine 🍷 Tastes Just As Good At Home.
😂😂😂.
Restaurant Prices Are Nuts!
I used to buy Argentina and Chilean wines, never had a bad bottle of wine from Chile. Now, even thought those countries are struggling, the wine prices do NOT reflect the exchange. the supply chain is extorting high prices, no matter. When a 10 dollar bottle of Bodacious blend outcompetes bottles in the 25 to 35 dollar range (the women I date we usually split , so 15 for me) and it's just not worth the value.
Raising prices to ridiculous levels has an impact on whether or not people choose to visit your restaurant.
That's what happens when you print Trillions of dollars and wreck supply chains with lockdowns.
Speak for your own country. This is looking to be an USA problem. Hahaha you guys are really losing power. @@jordanmetcalf9496
Speak for your own country. This is looking to be an USA problem. Hahaha you guys are really losing power.
@@jordanmetcalf9496 Agree. 👍
You believe these restaurants are making money hand over fist? That's the most competitive and lowest margin industry in the US. They're raising prices because their costs are skyrocketing. You have very high cost of labor and your inventory spoils if you can't sell it.
I refuse to tip. If i pick up food, no tip.
I have no problem paying fine dining prices if I get a fine dining experience. The problem is that most fine dining restaurants don’t know how to give that experience anymore so you end up with an unsatisfying experience. It is so hit and miss that I end up passing on going out just because I’m tired of being disappointed both in the food but mostly in the service.
I know! Ruth Chris used to have the best meat you could get. Then Darden bought the chain. Prices are higher and the steaks are bleach!
Exactly. The quality is very rarely there.
Service seems to be really bad in our area so we're just not going out
Exactly right. On a recent visit to an independently owned Italian restaurant a 12 inch Hawaiian pizza cost $18, the soda pop was $3.89 (only 1 "free" refill) plus 20% tip and 18% consumption and state tax. Was it an "experience" worth paying for? No. Furthermore my pizza was undercooked which wasn't palatable but since I was there with other friends I didn't send it back. Compare that to a homemade pizza (get the dry mix dough packet, use leftover marinara sauce, etc plus store brand cola) $2. If I make the dough without the mix it is even cheaper.
Even so-called fine dining restaurants, often simply by entrées and microwave them in the restaurant. Actually getting a properly cooked meal in a restaurant is almost impossible. So it’s better just to eat at home.
I hate being "robbed" for trying to simply enjoy life.
Me, too. It is taking everthing to live in retirement. Rarely eat out.😢
@@lindajohnson. I'm retired, too. So glad I learned to cook well, my mom taught me and I learned to enjoy it. My friends think I'm a magician when I have them over for a home cooked meal. Chicken thighs were on sale for 99¢ a pound, I canned 50 pounds, rendered the fat out of the skin and froze it for cooking, biscuits, etc and boiled the bones to make broth to can. Nothing goes to waste in my house.
Cost too much to dine out… including McDs.
Culvers is much better quality and costs about the same. It's ridiculous what MCD charges for their slop
@@brianc2399Great place to eat. Love their butter bun burgers.
McDs has raised their prices sky-high and then takes it back off again if you use the app to order, it makes no sense to order in person at the counter these days as there is a 20% penalty for doing so.
@Seccat ... Yep, well, here's three magic words for you: "Google Copycat Recipes". [He he he] ... Problem solved -- FOREVER !!!!
@@solracer66 They're gathering free data from your cell phone or device. Personal data is a big maker nowadays for companies. Collect it and sellt it.
Popeyes, Mcdonalds prices has made me eat healthier 🙏🏼
Tots and pears 🍐
And made me a better cook as well!
Popeyes wanted 13 dollars for two pieces of chicken I went home and fried my own chicken
@@patriciaholiield5365 That's interesting. Popeyes near me sells 10 pieces of chicken for $21.99.
I can cook ribeye steak for less than taking the family to mcdonalds 😮
I would like to eat out, but it feels like a ripoff nowadays. Prices are sky high, portions getting smaller, and even quality of food going down.
It's not worth it anymore. Well, we don't have as much money now, because I teach and my wages aren't keeping up. So, once we found out the three magic words, "Google Copycat Recipes" ... YYYYIIIIIIIPPPPPPPPPPPEEEEEEEEEE -- we were off to the races. We are not gonna eat out much anymore, unless it's very cheap & has coupons.
It's fun to eat out, I miss it. I'm a good cook but love the treat of trying other recipes. None of my friends cook, but they love coming over to my house for a meal.
and interacting with the employees is almost always unpleasant in some way.
The economy is doing so well, I’m eating packaged ramen noodles only on days ending in Y.
Cheaper and healthier to cook up pasta and portion it out. Freeze. When wanting to eat, Add bullion and some freshly shredded cabbage or bits of frozen veggies. Ramen is loaded with very bad chemicals. Yes, eat on days ending in Y 😂.
I recently went to Taco Bell for the first time in 18 months. The meal that used to cost just under $5 is almost $9 now and the portions are smaller. I hate those kiosks, too. Done with fast food.
Prices for fast food and dining out in general have gotten to the point where it’s no longer worth it. Yes, “people need to eat” - but they’re realizing they can make a better meal at home, for 20% of the cost - and they don’t have to leave a tip.
Pay yourself the tip and put it in savings. 😂
@@patty6375 good idea! although I'm usually only worth 15% ;)
Even with inflated prices in restaurants, increasing grocery prices have made the resturant home price difference smaller. Earlier a home dish cost 10% of a similar dish in restaurants, now it costs 30%.
It may or may not surprise you all but near my house is a bar where you can get tons of fries and a big burger for $9 plus tax and that too brought to your table! I asked the manager how come they can afford prices which are comparable to McD or even cheaper for more food. He said, the bar makes the money off booze! Hungry people find good meal deals and end up drinking cheap booze. It seems working well for the bar as I have barely noticed any price increases due to the pandemic inflation except for chicken wings--which are too expensive even there. I live in American South.
@@larrman5409 Exact same feelings. Agreeing with all of ya'll. It's just not worth it anymore. Well, we don't have as much money now, because I teach and my wages aren't keeping up. So, once we found out the three magic words, "Google Copycat Recipes" ... YYYYIIIIIIIPPPPPPPPPPPEEEEEEEEEE -- we were off to the races. We are not gonna eat out much anymore, unless it's very cheap & has coupons.
fast food is expensive AF now
And if it's not expensive, you notice the crazy shrinkflation
Or both!@@MBarberfan4life
Yup! Burger and fries at Applebee’s (or the like) is roughly the same price as a “value” meal at a drive-thru.
Fast food chains are shrinking their portions and increasing prices. It shouldn't be a surprise.
yes, I noticed that, too. Sad to eat out and still leave a bit hungry without order an extra side of something. I gave up on deserts years ago.
Eating out is so hugely overrated. I cook at home and eat like a king. Food tastes like real food, not with that prepared industrial taste, and it's far far cheaper and without the crowds and hassle. I'm not sure Americans know what good food should taste like, to be honest.
I’m not sure making making a blanket assumption about 350 million people will ever make sense
I have learned to cook at home because for the price of ONE meal I can eat for the week. Quite literally.
Tips keep me away. FYI asking for a tip before getting your food is called a bribe.
I ordered a package the other day online. It asked me to tip. What? lol
My local restaurants automatically charged me 18% for service charge and I'll stay away. I only go out eat nowadays when I'm on a trip.
That is me, too. I used to eat in Panara often. They ask for tips at the order. I become worried about a worker spitting on my order if I don’t give generous tips. For this reason, I don’t eat in Panara anymore.
Good for you.@@chgone5034
Cost me just under 16.00 for a "you pick two" at Panera a couple months ago, that's almost 16 dollars for a dinky half sandwich and small cup of soup!!! All the other take out and eat in restaurants aren't any better, so why eat out when I can make the same food for a quarter of the cost!!! Like other folks have said, I can afford it, but refuse to pay the INSANE prices of prepared food!
It’s better to go with the Value Duet for ~$7.
I went to a Panera once. It was expensive and tiny portions of not very tasty food. I was hungry within 2 hours. Never again.
For us fine dinning is for special occasions, like birthdays, and anniversary only. It’s too expensive using $100.
McDonald margins have nearly doubled from the 2015 lows. Not hard to figure out they raising prices way too much just because they can
And they have record profits and sell sliders called BigMac's.
That's what happens when the government creates $6 trillion out of thin air and gives it away for "free" in the form of weekly payments for 72 weeks to 40 million people who don't work. Demand quadruples over the first year, and then prices double over the following 2-3 years. Textbook definition socialism. That's how hyperinflation happens. Go check out Venezuela and Argentina. Their currency is worthless because of how much money they printed out of thin air. Lucky for us, the USD is retracting rapidly and we're about to experience the worst financial depression ever and rapid deflation because we're in the largest asset bubble in world history. Every single thing money can buy will be 60% off shortly.
@@Scott_T_And they blame the minimal wage increases which in most places are just keeping pace with inflation lol. Lots of dummies are believing it too.
I can't afford to go out to a restaurant anymore, rent and groceries are crazy high
Question - do you think prices next year go up or down?
@@prancer1803up
@@prancer1803UP
Base on the current situation, the price is not going down for sure. We’ll be lucky if it stays the same.
@@promemes prices generally go up every year. Next year they’ll be higher
We are DINKs with a healthy multiple six-figure income in California. We've cut back on restaurant dining almost entirely and have reintroduced our love of cooking at home to save money. The $5 roast Costco chicken is our weekly staple - we can make a homemade chicken pot pie with that, have 2 days of leftovers, plus enough chicken to make chicken salad sandwiches for lunch. With tipflation, hidden "employee benefits surcharges", and overall inflationary price increases, the restaurant experience is no longer what it used to be. I'm so tired of being expected to tip 20-30% now, along with quick service counters expecting a tip when it was never expected before.
imagine self-identifying with the latest trendy buzzword. lmfao.
Exactly... Costco Chicken is still a great value. Nothing wrong cooking home, you eat healthy and eat like a king! Keep up good work and especially save $$$ towards your future retirement
I got tired of paying high prices for garbage food.
rude and poor service and automatically expecting tips is out of control. I used to eat out 7-10 times a week and now maybe 1 time a week. I've always been an over tipper but no more
Bad service and expecting a tip is crazy.
You just brought me some food and drinks, calm down, that's not worth 20 dollars. If I could I'd serve myself
Service has definitely gone downhill over the past 10-20 years. Wait staff used to hustle for 15% tips, now they feel entitled to 20%+ for mediocre service.
They demand tips now even if they get $20 an hour.
you mean they can't charge me $30 for burgers and fries?! 🙄
Bidenomics
Eating out was never really a thing until the 2000s. I don't recall many people or families eating out in the 80s or 90s. We are just reverting back because it is no longer cheap.
My father would treated us to brunch some times, and dinner once in a while.
??? , People have been eating out for generations. What do you think all those restaurants back then were empty??
Exactly, my family went out to eat once a month.
Family dinners were the thing.
Dude boomers ate out all thr time, the reason why Chillis, Applebees and the cheesecake factory were in business. Millennial actually eat a lot more at home.
Yup, us boomers were lucky to go out to eat in a sit down restaurant on holidays and birthdays.
20% surcharge with tipping. Corporate sourcing gouging us during covid, gobsmacked at how tolerant consumers are of ‘price elasticity’.
Tired of being hustled every transaction. Ill go to places and businesses not focused solely on extracting dollars, but on providing a fair exchange of value for cash.
For sure the money grab is real!! We went to pick up pizza and they wanted a 20% tip rofl
Restaurant servers should make more than nurses. They do more good for society😊
@@spacecoyote6646 restaurants should pay them a normal wage not $4 a hour and put the majority of their income on the customer tips. In my example the people get paid a normal wage, I ordered online and went inside and got the pizza. A tip shouldn’t be on basic transactions.
There is no more restaurant business! I closed my freaking restaurant last month for ever. Now I am unemployed. Looking for a job. Instead of gave job. Looking for job. People can make there own food by themselves!
The difference this time is fast food and the grocery store prices are also sky high unaffordable
I make pretty good money, but only go out to eat once a month now. The prices are ridiculous.
same
I stopped dining in. I used to dine in at least 1-2 times a month. I grab and go now. If I sit down to eat its at Chipotle or Subway. I don't fine dine-in anymore. The 20% gratuity charge. The tipping. The fees for insurance and even charging ME for the credit card use. YES! I went to one restaurant and the charge for credit card was on ME.
@@Chicago48 seems about right in chicago. they need to house those migrants
4 people for a "high end" burger, fries, 2 sodas 2 beers = $120 with tip. Bonkers.
Prices are too high. Portions are too small. Quality is way down. Wait time is too long. Accuracy is not so good. Its not fast food as we knew it.
In Bay Area, one hamburger with bacon, little fries and a milkshake cost me more than 28 dollars with tax. On top of that, fcking five guys still wants some tips some donations. What a time we live in. Can’t wait for what is next.
Northern California food prices are insane, make even San Diego look cheap. A side salad can run you $18. Takes out all of the enjoyment of going out. You just feel like you're being ripped off.
$28?
Oh my goodness. Oh my dayum!
The problem is Five Guys. They have always been expensive to begin with, even a few years ago.
Get out of that crazy state.
I read that Panera Bread is exempt from Cali's wage law, possibly because a big franchise owner is a friend of Newsom.
When I was a child in the 1960s and early 1970s going out to eat was a rare event! Special occasions, and maybe one or twice every three months. I hated it as parents made us dress up in a suit or very good clothes.
I prefer to eat at home after retirement and so much eating out for business travel.
This is to be expected, people are struggling, and they cut back on discretionary spending..
Here in CA restaurants are having to pay $20/hour to employees and food prices are up. Corporate fast food also can never allow earnings to go down and only go up, so they're all going to get a lot less business because no one wants to pay nearly $20 for a fast food burger lunch.
Once they've replaced all the fast food workers with robots, then fast food prices should come down by a lot, right?
Actually, Yes. You don't have to pay health insurance or other benefits to robots, they don't demand 1.5 pay for overtime, and they don't slack around. The businesses will indeed save a lot of money and they very likely will reduce prices to attract people away from competitors.
Not at all.
Nope they’ll probably ask for tips to keep up on the service of their robots
@@Generic321 you just described corporate greed. Same as companies charging the US government 500 dollars for a hammer. Or hospitals charging 50 bucks for a Tylenol. There's nothing to stop capitalism from capitalizing.
@@prolific1518 Hospitals charge "$50 bucks for a Tylenol" because they are allocating total cost of providing medical care (overhead) to all the components in the service transaction.
The cure for high prices is high prices.
Is that your final answer?
😅😅
If you eat out, bring a bottle of water. Restaurants are mostly fronts to sell extremely high margin soda to you. This is why Pepsi bought Taco Bell years ago. That $3.79 coke cost the restaurant a penny or two. Save your money.
The only reason this is a shock for people is the fact that the government took food prices out of the inflation numbers. Food pricing is the only thing that affects us all. Put them back into the inflation numbers for a real look at our economy.
Everything went up during Covid due to the supply chain allegedly and we were supporting essential workers and American small businesses 💰💩🤑
Core CPI strips out food and energy, but the CPI doesn't. Yeah, the Core CPI doesn't make sense, regardless. The rationale was that food and energy are volatile, but those two items are very important for consumers.
@julm7744 if you think most Americans make 10 to 20k a month in wages...... there is the disconnect
@@julm7744 Arkansas here. Just filed taxes here so I can say my annual household income is $101,000 for 2023 before taxes. That is pretty high for Arkansas with a household of 2. We bring home $6710 a month. Not the 10-20k.
@@julm7744 Nothing you said in your comment is anywhere near accurate
Restaurants upset why we don’t go to restaurants as they charge the highest prices we have ever seen. Okay. It’s the consumer’s fault.
You mean the weather, right?
I went to a regular restaurant here in NJ and order 4 drinks, 2 appetizers, and 2 entrees, it costed $160 plus tip. A year ago that same food was less than $120. I’m cooking now.
cook+eat at home and the Prices go down!
Food at home + electric + water = the same as ear out
I almost burned my house down when my air fryer caught on fire. I'm scared to cook at home
@@StoneRiderM3 no it doesn't, stop
The 2020 lockdown forced me to learn how to cook. After a while, I began to enjoy it and started making meals by scratch. Though a bit more time consuming, it's often much cheaper and healthier. For instance, I no longer buy the prepackaged spice/seasoning mixes for tacos, chili, etc. Most people likely have all the spices already in their pantry and they can make them for pennies on the dollar. And it tastes better! Now when I get take out or fast food, I usually don't feel well the next day - Makes me wonder what I'm putting in my body? Probably don't want to know!
I spent $30 on a Chinese combo plate with a dessert. After I paid, I was informed the tiramisu may be a little frozen because it has ice cream????
It all tasted like flavor enhanced plastic. I couldn’t even take a 2nd bite of the tiramisu and I have relatively low standards when it comes to sugar.
The combo was fried rice, a spring roll and an entree possibly dog meat
Tiramisu is not supposed to have ice cream.
@@AM93000 no shit, but I already paid almost $30
Tiramisu at a Chinese restaurant? Say what
@@francescoavila6960my local chinese buffet also has tiramisú on the dessert counter. not with ice cream tho 😂
Dog meat would make it more expensive because its so exotic.
Most likely cheap beef.
I guess my question is why have consumers collectively agreed to accept higher prices to infinity? A house in 1960 would cost $5000 a house today on average today would cost $400,000, in 40 years a house on average could be $1M. When do we stop accepting this nonsense?
Shocking after people overspend during the holidays then bad weather in January and people stay home.
It was almost $80 for four deli sandwiches and drinks a few weeks ago. The owner of the shop looked at me with a bit of shame and said '..and prices will likely go up even more'. He knew it was the end.
And not one company has said we'll cut back on executive salaries to help weather the downturn.
I also think that casual restaurants get a bit of business from fast food jacking up the prices.
For a few dollars more you can get better food, service and the feeling you're not in an environment that can be cleaned with a hose.
Just learn to cook. Cheaper, tastes better, healthier, no need to deal with people
Went cheap at Taco Johns and got 2 bean burritos and one soft shell chicken taco for wife; came to $10.58 and no drinks, nothing else; this would have been 5 bucks or less just a few years ago; we were even more shocked at the prices of subway and McDonalds which we seldom ever patronize. We eat most always at home now cringing at the prices of groceries but still save a lot.
I stopped buying tickets to NfL, baseball basketball game and food at the stadium
I go to restaurants for ambience. If it turns into vending machine type thing, why not go to the grocery store and get something better.
How about that 20% tip that's expected at just about any restaurant except fast food. That certainly is a factor for me.
I usually only tip 10%-11% on average. Lucky they are getting that, since the cost is so high.
Absolutely cooking at home way more. It’s tastier, better for you, and better on the budget. Zero chance I’m paying 15 bucks for some mid tasting fast food or quick casual place.
" People still have to eat" that is a true statement. There are only some legitimate reasons why dining out is necessary. The other reasons such as convenience, experience, etc are the reason we pay so much. For the most part, it is a waste of money. We know it. We still do it and the food industry know it as well. I still see lines at restaurants of people wanting and willing to pay for the experience. So the real issue is not the cost of the items but what we are willing to pay for them knowing dang well it is a rip off.
Almost like a combination of high prices, lack of staff and a general disdain for eating out have come to roost
I went to Cheesecake factory in Dallas and a simple meal was $24. There was a whole row of empty tables, yet we waited 15 minutes to be seated. Are they running out of staff? Our waiter said he only had 4 tables to serve. Something weird is going on. What a ripoff. The food was subpar.
We are cuurently in recession and we have been since October.
This is a lie. There is zero recession
Not according to the stock market…
@@prancer1803 since when is the stock market in indicator of a recession? What revisit this conversation in six months.
@@prancer1803the numbers don't lie but liars use numbers
@@prancer1803 And not according to the GDP numbers.
Not only has costs to eat out gone up significantly but you also have to tip too. I never thought I’d have to tip at Subway but that’s what it has come to. I still remember when tipping was optional and putting a dollar in the glass jar was appreciated.
I wouldn't tip at Subway. I can get a nice grocery store roll for .85 cents, a few thin slices deli meat and cheese $1.45 and use toppings I already have at home versus Subway prices. Frankly I find homemade casseroles, stews, and soups cheaper and more filling. Deli meats/coldcuts are a carcinogen according to my cancer doctor.
Restaurants are over charging for everything, on top they underpay their employees and expect us to tip 20-25% even on carry outs. Our family decided to eat out less and hope enough of these greedy restaurants going out of business. And get things get back to normalcy.
Pricing is ridiculous for basis restaurant food.
I stopped eating out when inflation first started going crazy. Maybe 1 or 2 nights dining out in like two years.
My habits changed and I save a LOT of money
The exorbitant tipping that is either suggested, shamed or even automatically added to your bill as "mandatory" (San Francisco), or supplemental "Heath insurance" taxes, etc is out of control. Just these fees alone are often what the entire meal used to cost just a few years ago.
People forget that in the 1970s and early 1980s economic pain over 40% of restaurants closed.
Way too many Americans eat out.
It is one discretionary spending items that is easy to reduce, limiting it to special family occasions and business people traveling and having meetings.
But even then I remember corporate restrictions.
Then they go to the doctor and drug store
I didn't forget I just didn't know that since I wasn't born yet
When it costs over $9 for a small 6 pc McNugget meal at MCD, it’s totally understandable that people will stop eating out.
With rising prices and servers demanding 20% tips, I find it ridiculous when servers are making $150K a year, some make more than I make.
Its not the cold weather. Its the corporate greed
You should open a restaurant and pay your employees $40/hr. Let's see how long you'll stay in business, Mr. Generous.
I went to a Mom and Pop restaurant. But when I came home to review the receipt I noticed there was an additional $3 mystery charges with no description. So now I have to double check the bill each time I dine out.
Between high prices, unhealthy foods and getting squeezed for tips who needs it? I don’t eat out even if someone else is paying for it because it’s unhealthy.
Resturant prices are just too high. Input costs just haven't increased that much, so consumers are sick of it.
I continue to brown bag it for lunch. Today is turkey avocado on Swiss
January always suck for restaurants, no news here
Problem with tipping also is it gives restaurants an excuse to continue to pay their staff $2/hr and shift the blame to the customer for not tipping or not tipping enough instead of on the restaurant owners who are pocketing the money that could be going towards paying the workers a livable wage.
The food is expensive, and at many places, the server adds a gratuity before they ever hand you the bill. Loss of value with extra cost.
Enough is enough.
I hate that! I like to tip after the meal.
@deekang6244 I went to a place called Jack Asstors in Toronto a couple of months back, and the server added a 20% gratuitie to the bill! Needless to say, I'll never go back there again.
The bill comes and you see tip already added on,you see a 3%charge for using your debit card. When you ordered that drink off menu that didnt state prices and its outrageous,a city tax is added,an added fee for parties of 6 or 8 diners. Its not worth it anymore to have a nice night out.
One thing about this crap. You are forced to mindfully (appreciatively) eat what you can afford, which must be healthy cooked food at home. No choice.
I personally have been to a sit down restaurant 2 times in the last 2 yrs
One of the main reasons my wife and I don't go to sit down restaurants we can have. A better meal at home for less than a third of cost
Every establishment that I know of has raised prices. Customers are dining less and tipping less. Service staff are unhappy. Businesses are trying to cope with less customers and empty tables. It is definitely a vicious cycle.
What metropolitan area do you live in, if you don't mind me asking? I don't see this happening in the Chicagoland area. Restaurants here as as busy as they were last year.
@@JasbirSingh-zj1fg that is fair though are you sure those people are neither rich nor regular people building up a lot of debt? I am north of Seattle.
@@jaschan2006 I don't know where the people are getting money from in Chicagoland but they *are* spending. And the spending isn't slowing down at all.
Prices are way too high even for fast food. 2 meals chic fil a. 31.00. I couldn’t believe it. Haven’t eaten out since. That was in November 2023
I don’t think any of us would rather go to McDonald’s when in some places it is still cheaper to eat there rather then McDonald’s.
I used to enjoy eating out but when fast food prices aren't far off from what it used to cost to eat at a sit down restaurant and a nice restaurant costs a car note to eat at It's all become considerably less enjoyable.
"We typically don't see unless we are in a recession." We've BEEN in a recession!
It’s healthier to eat at home, and so much cheaper as well.
In Greece McDonalds in my city are full every night by kids ages 15-20. I can't understand why but for some reason greek youth loves Mcdonalds. It was never the case in the past because the quality of their food is beyond bad. I was told by a kid it has something to do with Tik-Tok. The whole thing seems ridiculous to me, how do parents pay all that food, its pretty expensive these days. Or maybe kids just go there to hang out with friends and don't really buy anything
The sad thing is that restaurants want tips on top of already high prices! Ridiculous!
we are all tired of the price gouging , bad service, and tipping culture
You reap what you sow. If greed would have not taken off during and right after covid this would not have happened. Tipping got out of hand, thanks to a few POS providers like square and toast and now customers think it twice before dining out. I understand business owners wanted to make up for the lost time during the pandemic but that's not how demand operates.
"People have to eat". Yea, but not at a cost of an arm or leg. Most people can just get the groceries and cook at home. The portions and qualities of the foods are much better.
Food prices are so high it makes economic sense to cook at home because the restaurants are definitely cost cutting on their food prices and that affects quality
In 1:34, he talks about how the weakest segment is fine dining. That makes sense, no? People are tired of getting ripped off for tiny portions of food and then told its an "experience". How is eating food meant to leave you hungry?
They get too greedy with tips, so no dining for me
the subway by me went out of business and a world of sourdough went in. Over $18 for a sandwich, chips and a drink in Phoenix..
I stopped eating out and if I do get something, I pick it up. I have enough money, I'm just being careful.
Higher rents ate up the restaurant money
People get shot in fast food joints, just stay at home and eat healthy.