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I realize this is HN and not WSJ, but after Starbucks and McDonalds this seems like another demographic-broadening indicator in the “many people are newly not p
by svnt 2y ago
I realize this is HN and not WSJ, but after Starbucks and McDonalds this seems like another demographic-broadening indicator in the “many people are newly not paying for relatively cheap, easily available cooked food” category.
Tech employees of course might be just going somewhere nicer. Why that would suddenly happen and as a bigger % of sales than tech employees represent is unclear.
For other people who can afford a $7 sandwich and can’t afford a $12 sandwich, this is a big signal.
- RiverCrochet 2y agoMy niece had the following to say about this; I don't know if I agree but I wanted to share the insight: * The group/indicator really is "people paying for absolutely cheap, easily available cooked food" instead of "relatively" - the demographic in question has experienced wages not increasing with inflation. * A Tiktok comment she saw and pointed out to me said this: "I'm not paying $12 for a sandwich that used to be $5." Perhaps their "5 dollar footlong ad" was simply too effective.
- svnt 2y agoAgreed on both points. Minimum wage needs to move, but doing so too quickly could make things worse. There is a psychological training aspect, but it is unclear to what degree it correlates with the underlying financial reality. Are they both offended and unable to buy or just offended? In a non-anonymous social medium it is safer to communicate outrage than desperate poverty.