we’re focusing on just two of the takeaways. The first is the alarming shift among low- and middle-income consumers who are increasingly giving up on eating out and instead buying groceries and eating at home:

  • Also noted was the drag on restaurant traffic by non-restaurants, particularly grocery and c-stores. A combination of data and surveys indicate growing evidence that consumers are leaving fast food and fast casual restaurants, replacing the meals with a combination of grocery (Aldi and Trader Joe’s specifically highlighted as taking share), fresh format grocery (for example, the hot food bar at Whole Foods), and c-store food (particularly with breakfast).

https://www.zerohedge.com/markets/consumers-ditch-restaurants-groceries-budgets-break