Fast-casual chains like Sweetgreen, Chipotle, and others are defying the consumer slowdown, with a rise in popularity despite consumer struggles. Recent studies show a 10% decrease in consumers' restaurant budgets over two years, with U.S. consumers now allocating 30% of their monthly food budgets to restaurants, down from 40% two years ago. Fast casual dining has seen significant growth, with YTD returns for Sweetgreen at +193%, Cava at +86%, Wingstop at +51%, Chipotle at +43%, and Shake Shack at +39%, all outperforming the S&P (+10%) this year.
Fast casual food is so hot right now YTD returns: Sweetgreen +193% Cava +86% Wingstop +51% Chipotle +43% Shake Shack +39% All of them are way ahead of the S&P (+10%) so far this year
Study: Consumers’ restaurant budgets fell 10% in two years. New data from Popmenu finds that U.S. consumers now spend 30% of their monthly food budgets on restaurants, down from 40% just two years ago. https://t.co/JTv1tu0Dqm https://t.co/Z5RV57gZq8
Dining out is increasingly a domain of the wealthy. Restaurants are feeling it. https://t.co/ynNVW8rTEE
🇺🇸 Fast casual dining hurt by consumer struggles https://t.co/VQJVt48IZh
🇺🇸 Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown https://t.co/IYnhGHTmsF