Is Netflix stealing sales from restaurants?
This post is part of the On the Margin blog.
Looking for a reason why consumers aren’t eating at restaurants as much?
Here’s one: Netflix.
But it’s not in the way you would think, although consumers are perhaps spending a bit more time on the couch and less time eating out.
Instead, consumer spending on new services, like Netflix, could be taking up room in their budgets and leaving less for restaurants.
So says Gene Lee, CEO of Darden Restaurants Inc., who, during the company’s earnings call Tuesday morning, suggested that new, additional costs are leading some consumers to cut restaurant