The trickle down view of eating out...
In hard economic times people forsake their ‘usual’ places to eat at, and instead they go to places that offer meals at lower prices. The end result of this theory is a smaller market for higher priced establishments and an increased market for cheaper ones.
It's a beguiling view but I don’t think it’s totally correct. Read Weekly Briefing Report to find out why.
I also consider the implications for the industry, following Thursday’s autumn statement.