BTW, I recall mentioning a few weeks back that the fact that chains like Olive Garden and Red Lobster are largely in their death throes due to the death of the American middle class and it was met with either a sigh or folks telling me it was the chains and nothing at all to do with the economy (my house just went up another $100,000 in value for NO reason at all ... sure this isn't 2007-2008 all over again!)
Well, there was a story recently on the HuffPo talking about how the Olive Garden's issues were a serious warning about our economy.
And it isn't simply on the low end. High end chains, once just for the expense account crowd are also desperate to raise revenue quickly. Thursday members of the Landry's Rewards Club received an email from Morton's offering a $29.99 two-pound Maine Lobster dinner if people reserved for dinner tonight. A few weeks ago I got a similar offer for $40 off dinner at Fleming's and there isn't even one close.
Back to the middle, Macaroni Grill sends me daily emails with discounts for that day only. Usually, I don't pay attention, but they have gone from $5 off to $7 off to $10 off a $25 purchase to 20% off the check to $20 off a $40 purchase (would have easily used that one, but saw it at 10 p.m.)
Anyone who doesn't see these as desperate moves because folks aren't dining out and our economy is ready to crash again likely isn't seeing reality. These restaurants need people in their locations YESTERDAY and will offer anything to get them in.
Also, look at the increases in prices at McDonald's, Wendy's, Taco bell and Starbucks. The percentage change of former Dollar Menu items is telling you the companies are desperate to increase the bottom line at all costs.
Yep. I'd feel real good about the economy now.
OK, were we talking about Quiet Riot or Poison?