Why are independent concepts winning, or at least outperforming chains?
It’s partly a result of urbanization, said Bob Goldin, a partner in Pentallect. But consumers also rate independent restaurants as more superior on 12 of 15 attributes studied.
“In the top 10 and 20 major metros, independent restaurants are absolutely knocking it out of the park,” Goldin said. “I hear this anecdotally and from all the distributor clients. Restaurants in urban areas, in particular, are doing fantastic. People, especially Millennials, are moving downtown to more gentrifying neighborhoods, and they’re frequenting local establishments that are winning on these factors.”