America’s restaurant industry has endured dramatic change in recent years. Covid forced many restaurants to shut down, and the survivors had to adapt their operating models for a world of social distancing. Coming out of the pandemic, stimulus benefits, higher wages and asset prices, and steady employment brought a wave of discretionary spending that benefited restaurants. But since late 2023, cracks have appeared in the form of a bifurcation in the marketplace between high- and low-income consumers, with the latter in particular feeling the impact of inflation on discretionary spend. Meanwhile, changing attitudes toward health and wellness are starting to impact menu options. Join Rob Rowe, U.S. Regional Director of Research, and Jon Tower, U.S. Restaurant Analyst, as they discuss how the industry and its customers are responding to the shifting landscape, and how restaurants are likely to fare over the coming year.

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