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Chipotle And Domino's Customers Begin Cutting Back On Delivery Orders
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[quote:Toad Liquor:MV81NDIxOTMwXzVDOEIxMUJB] Mounting evidence shows consumers are dialing back their fast-food spending as they grapple with two years of negative real wages, maxed-out credit cards, and depleted personal savings. Last week, McDonald's CEO noted that customers were starting to resist higher burger prices. Now, Chipotle Mexican Grill and Domino's Pizza have reported that consumers are ditching delivery services due to high fees, opting instead for carryout to save on costs This is the fourth consecutive quarter of slowing growth. Consumers are starting to notice higher food costs plus delivery fees, in addition to tips, have made delivery too expensive. As a recession looms, consumers retreat: https://www.zerohedge.com/markets/chipotle-and-dominos-customers-begin-cutting-back-delivery-orders [/quote]
Original Message
Mounting evidence shows consumers are dialing back their fast-food spending as they grapple with two years of negative real wages, maxed-out credit cards, and depleted personal savings. Last week, McDonald's CEO noted that customers were starting to resist higher burger prices. Now, Chipotle Mexican Grill and Domino's Pizza have reported that consumers are ditching delivery services due to high fees, opting instead for carryout to save on costs
This is the fourth consecutive quarter of slowing growth. Consumers are starting to notice higher food costs plus delivery fees, in addition to tips, have made delivery too expensive. As a recession looms, consumers retreat:
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link to www.zerohedge.com (secure)
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