The Market Just Hit a Record High, So Why Are Casual Dining Restaurants Doing Poorly?

Fridays casual dining

Last month, the Dow Jones Industrial Average hit a milestone of 20,00 points. Around the same time, the S&P 500 and Nasdaq indexes hit record highs. Since then, all three indexes topped their previous records and continue to grow to this day. This means that the current stock market is reaching all-time highs on a near-daily basis, as are many stocks.

Unfortunately, this doesn’t mean that all stocks and companies are doing well. Gun stocks, for example, have been trending downward since the election (for a good reason). Since volatility has been relatively low recently, volatility ETFs like $VIX. Many retailers are hurting right now, too.

Casual dining restaurants, however, have been doing particularly poorly, and not just in the recent market. Due to a few surprising factors, places like TGI Friday’s and Outback Steakhouses (which recently closed a handful of locations) are seeing fewer customers and less enthusiastic patrons.

To explain this recent decrease in popularity for casual dining spots, Business Insider took a look at what’s causing this trend. What they found might not only make you rethink where you eat, but what you eat, too.

Groceries are cheaper these days, leading more folks to go to the grocery store and make their own meals. If you don’t want to go to a grocery store, you have a plethora of cheaper, faster, and healthier options than your local Olive Garden or Friday’s. If these chains want to keep up with newer, trendier options, they have to revamp their approach. They could offer high-tech ordering methods, or healthier, fresher menus. Until they do so, fast casual restaurants will continue to eat their lunch.