Restaurants are the New Retail: What Happens When Supply Outpaces Demand?
Beginning in 2008, the retail landscape in America drastically changed, with both large-scale retailers (Toys R Us, Sears) and mom-and-pop shops shutting their doors as oversaturation and the onslaught of e-commerce options made staying in business impossible. In their wake, a new wave of restaurants was born, taking advantage of low rents and investor interest.
Now restaurants are facing the same oversaturation and decline in growth and profitability. What can they learn from what retail has gone through? Who survived the “retail-pocalyse” and why, and how can restaurants use those lessons to save themselves?
In our newest whitepaper, we look at three ways that retailers have thrived despite the forces against them, and apply those learnings to restaurants.