Not Drinking to That: It's the Price
In business, we learn the most from our clients. And clients have been telling me that they halted the pleasure of having a few drinks and maybe a bottle of good wine with dinner because of the cost. Not health reasons and not because they're aging, as The New York Times reports about what's primarily driving the collapse of restaurants. And the cost factor is confirmed in the comments to the Times article. One comment reads, that with drinks ordered: "A $50 dinner become $85" In a niche in which 60% of revenue comes from serving drinks, as people drink less that sector will face hard times. Predictably some restaurants will have to shut down. Some already had. Okay, Gallup documents that 54% of those surveyed indicate they do not consume alcohol. That still leaves a lot who could be enjoying drinks with a special meal out. Another okay, the health warnings. But forbidden fruit has never deterred the human species, dating way back to Adam and Eve in the Garden of Ede...