For decades, TV shows like “Cheers,” “The Simpsons,” “Sex and the City,” and “How I Met Your Mother,” among others, have highlighted the social tradition of meeting friends at a local bar or club for a drink. However, since the Great Recession, consumers seem to be pulling back on this tradition because of their lower levels of discretionary income.
“The biggest challenge facing the on-premise channel is continued weakness in traffic trends, despite the recession having officially ended several years ago,” explains Peter Reidhead, vice president of strategy for GuestMetrics LLC, Leesburg, Va. “Younger consumers are continuing to be under economic pressure and are not going out as often as they used to, are choosing to entertain at home because it is less expensive, and, if they do go out to restaurants and bars, they aren’t staying out as late as they used to.”