| Steven Johnson
| Feb 24 | food
Restaurant customer migration continues to eat away at top line growth and bottom line profits for chain restaurants. Since 2009 the economic turmoil, malaise, or quagmire has been to blame if one were to listen to earnings conference calls conducted by many major chains.
The truth is consumers are not eating any less today. They are in fact eating somewhere else. The restaurant industry overall has been stagnating since even before the recession, according to Harry Balzer of NPD Group. In 2000, the average American ate out 215 times. Last year, that number shrank to 192, according to NPD data.
Many chain leaders justified, and rationalize why they are not adapting to the consumers shifting preferences quicker, blaming missteps on a slow global recovery, the weather. Of late they are...