SamuelBRoberts
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Chain Restaurants Losing Money, Blaming Millenials
I saw this when I was browsing today and thought it was pretty funny.
Quote:Casual dining is in danger — and millennials are to blame.
Brands such as TGI Fridays, Ruby Tuesday, and Applebee's have faced sales slumps and dozens of restaurant closures, as casual dining chains have struggled to attract customers and grow sales.
.....
According to Smith, these sit-down restaurants' struggles can blamed on the most-frequently besmirched generation: millennials.
I found this story interesting for two reasons: one, it was another example of the 'blame Millenials for everything' fad, and two, chain restaurants are god-awful, a major reason Americans are so fat, and the sooner they die, the happier I'll be.
The story goes on to talk about Blue Apron, and Gastropubs, and all the other things that overpaid analysts are wont to blame their clients' problems on.
Here are some actual reasons, at least as I see them, that these chain restaurants are failing.
- The price of eating at Applebees or BW3s is insane. I have a slow-cooker pot roast going right now, and it cost me something like 20% of what I'd pay for a full meal at Applebees. In fact, for the price of a meal for 3 at Applebees, you could buy all the ingredients for the recipe AND THE SLOW COOKER ITSELF, and have change left over.
- The food is absolutely terrible. BW3s has some decent items, but Applebees food is on par with McDonalds at 4x the price. The "boneless bbq wings" there are some of the most disgusting food I've ever eaten.
- The food is ludicrously unhealthy for you. I don't think there's a single item on an Applebee's menu that's less than 1000 calories, with the exception of items that are literally just baked chicken and broccoli.
- It's never been easier to learn to cook. A lot of cooking knowledge was lost during the divorce epidemic, (which is the same reason most people today don't know how to change their own oil, incidentally) when single moms stopped cooking and worked outside the house. But now, with youtube, you can get great recipes from amazing chefs. And even if you fuck up the recipe, it's still better than Applebees.
I'm thinking that at least one of these chains (Chili's, Applebees, BW3s, TGIF) is going bankrupt in the next 5 years. And I for one can't wait.
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| 06-04-2017 05:22 PM |
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Gmac
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RE: Chain Restaurants Losing Money, Blaming Millenials
A lot of these chains have eliminated cook / food prep positions across the board to reduce labor and moved to partially/fully prepared frozen, cheap, quick fry products to reduce costs as well. For profits. Extremely unhealthy and I'm proud to admit I rarely ever dine out anyway. No sympathy from me.
Vice-Captain - #TeamWaitAndSee
(This post was last modified: 06-04-2017 05:31 PM by Gmac.)
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| 06-04-2017 05:29 PM |
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SamuelBRoberts
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| 06-04-2017 05:34 PM |
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Kabal
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RE: Chain Restaurants Losing Money, Blaming Millenials
(06-04-2017 05:22 PM)SamuelBRoberts Wrote: I'm thinking that at least one of these chains (Chili's, Applebees, BW3s, TGIF) is going bankrupt in the next 5 years. And I for one can't wait.
El oh el, your sudden schadenfreude caught me off-guard.
My impression of Chili's, Applebees, and TGIF is that their target market has been and is middle-class nuclear families with bourgeois values, a target market that has shrunk relatively-speaking over the past few decades, and maybe even absolute-wise.
Among singles, some misogynistic jerks on the internet started discouraging buying appetizers for girls, and that toxic masculinist idea may have seeped through and poisoned the populace.
TGIF has bailed me out a few times in Santiago, DR, speed-walking from my hotel to TGIF to order something quick in-between dates. In Barranquilla, there was also one on my block one trip, where one time I took two girls for a post-threesome snack and beer.
#NoSingleMoms
#NoHymenNoDiamond
#DontWantDaughters
(This post was last modified: 06-04-2017 05:52 PM by Kabal.)
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| 06-04-2017 05:46 PM |
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SamuelBRoberts
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RE: Chain Restaurants Losing Money, Blaming Millenials
(06-04-2017 05:46 PM)Kabal Wrote: My impression of Chili's, Applebees, and TGIF is that their target market has been and is middle-class nuclear families with bourgeois values, a target market that has shrunk relatively-speaking over the past few decades, and maybe even absolute-wise.
I'd thought this too. Fewer families, fewer people going to "family" restaurants. It's worth nothing that Applebees is distinctly WHITE food (Maybe Black too, I don't know, but definitely not Mexican or Asian) and so the changing racial makeup of the US can't be good for them.
Quote:Among singles, some misogynistic jerks on the internet started discouraging buying appetizers for girls, and that toxic masculinist idea may have seeped through and poisoned the populace.
Somewhere on the top floor of Chili's HQ, the vice-president of sales is pouring himself his fifth shot of bourbon for the day. It's Sunday, and it's only the afternoon, but he doesn't care. The room's barely lit, and no one else is in on the weekend anyway. He looks down at sheet of sales numbers, and it's covered in red ink. Everything's down. Stores are closing everywhere. He's tried every promotion he can think of, and nothing's bringing the numbers up. He lets his gaze linger for a moment before leaping out of his chair in fury, ripping a dart out of the holder on his desk and flinging it as hard as he can into the dartboard on the wall.
The dartboard is covered in tiny little holes, the result of days of anger and frustration. And in the center of the dartboard is a picture of a man's yellow head, with bushy hair and a bushy beard. And below the yellow head, in big bright letters, it reads, "#TEAMNOAPPETIZERS MUST DIE".
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| 06-04-2017 05:55 PM |
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beta_plus
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DC Data Point
At least inside the DC Beltway, it isn't just chains. All casual dining is suffering. I live in North Arlington and there are more and more empty store fronts where casual restaurants used to be. In many cases, nothing is replacing them and the property has been vacant for years. In Georgetown, there are no more public nightclubs. While some of that may be due to nightlife shifting farther east into DC as it gentrifies, the capacity opening up is not enough to replace what's gone.
Here is my 4 part theory for why this is happening:
1. There are just too many restaurants (though that may be DC only). At least in DC, casual restaurants have simply over expanded.
2. The fixed costs that restaurants have to pass on to customers has gone up a lot. When I go to other places in the US that cost much less than DC, restaurants aren't that much cheaper. I'm guessing that a lot of it has to do with insurance related to the serving of alcohol as opposed to food costs. My reasoning why food costs are not the issue is as follows: When I went to the McDonald's (fast food w/no alcohol)
in Charlotte, NC across the street from what I assume is its high end mall (it had a Neiman Marcus and Nordstrom's), the cost of 2 egg mcmuffins plus a small orange juice was nearly $4 less than in DC near the White House, hence my theory about alcohol insurance being the issue.
3. Tinder has destroyed going out to meet girls and first dates. Much of the revenue from these places came from guys trying to meet girls. If the girls are staying home and just using Tinder, the guys aren't going to bother coming out and buying food and drinks. Plus, the knowledge has spread that taking a girl to a restaurant for a first date has a low rate of return.
4. (DC only): as has been well documented here, the girls in DC over the last 10 years have become extremely ugly. When the great recession hit, it permanently crippled the BS non-profits hot chicks liked working at. Combined with reason #3, there is just no reason for a guy inside the DC Beltway to go out to casual restaurants very much.
(This post was last modified: 06-04-2017 06:08 PM by beta_plus.)
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| 06-04-2017 05:57 PM |
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The Beast1
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RE: Chain Restaurants Losing Money, Blaming Millenials
I don't remember the last time I ate at one of those restaurants.
The boomers in power should be shitting themselves right now in fear. The millenial generation is set up to destroy the current crop of large corporate chain restaurants.
And good riddance! They're absolutely disgusting and over priced. I'd rather eat at Mcdonalds if in a rush or better yet go to some fancy hipster joint where at least I know the food is good if over priced. Nine times out of ten i'll go to a grocery store and just buy food there.
I'm hopeful for the future that we'll see a return to slow eating and cooking as well as more emphasis based on quality ingredients.
Heck, i'm also thinking we may see the return of people who buy goods once and repair indefinitely. I'm already starting to see it with clothes. Maybe household goods and cars will be next.
On an unrelated note, the declining birth rates coupled with stagnating incomes of the next generations should be of massive concern to everyone with significant amounts of money and assets. This will force the cost of assets back down and immensely lower the velocity of money. All of this in my opinion is a good thing. It will starve the wall street beast and put it back in its place.
(This post was last modified: 06-04-2017 06:03 PM by The Beast1.)
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| 06-04-2017 05:58 PM |
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beta_plus
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RE: Chain Restaurants Losing Money, Blaming Millenials
(06-04-2017 05:57 PM)beta_plus Wrote: At least inside the DC Beltway, it isn't just chains. All casual dining is suffering. I live in North Arlington and there are more and more empty store fronts where casual restaurants used to be. In many cases, nothing is replacing them and the property has been vacant for years. In Georgetown, there are no more public nightclubs. While some of that may be due to nightlife shifting farther east into DC as it gentrifies, the capacity opening up is not enough to replace what's gone.
Here is my 4 part theory for why this is happening:
1. There are just too many restaurants (though that may be DC only). At least in DC, casual restaurants have simply over expanded.
2. The fixed costs that restaurants have to pass on to customers has gone up a lot. When I go to other places in the US that cost much less than DC, restaurants aren't that much cheaper. I'm guessing that a lot of it has to do with insurance related to the serving of alcohol as opposed to food costs. My reasoning why food costs are not the issue is as follows: When I went to the McDonald's (fast food w/no alcohol)
in Charlotte, NC across the street from what I assume is its high end mall (it had a Neiman Marcus and Nordstrom's), the cost of 2 egg mcmuffins plus a small orange juice was nearly $4 less than in DC near the White House, hence my theory about alcohol insurance being the issue.
3. Tinder has destroyed going out to meet girls and first dates. Much of the revenue from these places came from guys trying to meet girls. If the girls are staying home and just using Tinder, the guys aren't going to bother coming out and buying food and drinks. Plus, the knowledge has spread that taking a girl to a restaurant for a first date has a low rate of return.
4. (DC only): as has been well documented here, the girls in DC over the last 10 years have become extremely ugly. When the great recession hit, it permanently crippled the BS non-profits hot chicks liked working at. Combined with reason #3, there is just no reason for a guy inside the DC Beltway to go out to casual restaurants very much.
I just remembered this. When these casual dining places first started they were called Fern Bars.
article here
The article definitely suggest that places like TGI Friday's had the meat market culture built into their business models.
(This post was last modified: 06-04-2017 06:16 PM by beta_plus.)
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| 06-04-2017 06:16 PM |
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Gmac
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RE: Chain Restaurants Losing Money, Blaming Millenials
(06-04-2017 05:34 PM)SamuelBRoberts Wrote: Is that why they taste so bad? They're using partially frozen crap?
I can't speak for every restaurant out there but it is a common trend amongst fast-food chains.
The food often tastes worse because the product is typically lower quality and isn't made soup to nuts... or rather, from start to finish in-house. When you purchase / bring in ready-to-eat or partially prepared products they've lost nutrients and the customer suffers. Not having to produce it themselves lowers labor costs, which means less jobs.
Burger patties, french fries, breaded chicken, all those breaded appetizers... high fat, low nutrient content and all often delivered through the back of the building... frozen, in a large percentage of the fast-food chain industry. Most desserts come in frozen. Thaw and serve. Less than half this stuff is getting produced in the kitchen, it's just being finished.
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(This post was last modified: 06-04-2017 06:36 PM by Gmac.)
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| 06-04-2017 06:24 PM |
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RexImperator
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RE: Chain Restaurants Losing Money, Blaming Millenials
Quote:Somewhere on the top floor of Chili's HQ, the vice-president of sales is pouring himself his fifth shot of bourbon for the day. It's Sunday, and it's only the afternoon, but he doesn't care. The room's barely lit, and no one else is in on the weekend anyway. He looks down at sheet of sales numbers, and it's covered in red ink. Everything's down. Stores are closing everywhere. He's tried every promotion he can think of, and nothing's bringing the numbers up. He lets his gaze linger for a moment before leaping out of his chair in fury, ripping a dart out of the holder on his desk and flinging it as hard as he can into the dartboard on the wall...
Damn, this story was almost going to approach TLOZ levels, but it didn't quite make it. It's missing some corn-fed all-American sluts, ripe for the taking...
If only you knew how bad things really are.
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| 06-04-2017 07:37 PM |
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