New report in Business Insider says that Millennials are mainly responsible for a drastic drop in sales at places like Appleby’s, Buffalo Wild Wings and Olive Garden (not the breadsticks). The drop in sales is also causing stores to close.
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 increase sales.
“Casual-dining restaurants face a uniquely challenging market today,” Buffalo Wild Wings CEO Sally Smith recently wrote in a letter to shareholders.
According to Smith, these sit-down restaurants’ struggles can be blamed on a frequently besmirched generation: millennials.
“Millennial consumers are more attracted than their elders to cooking at home, ordering delivery from restaurants, and eating quickly, in fast-casual or quick-serve restaurants,” Smith wrote.
So that got us to thinking about places we loved that closed – what’s your list?
- The Morning Bull