Fast food is in a bad place right now: it’s become too expensive for what was once its core consumer looking for a cheap bite on the go, and it’s not high enough on the value chain to actually compete with the fast-casual locations like Chipotle or Sweetgreen that they’re peers with when it comes to pricing. A survey in May found that 78 percent of Americans viewed fast food as a luxury, which is a bad place to be if you want to rack up a few more billions served. Sales have been mediocre all year, but foot traffic is downright bad. According to Black Box Intelligence, every month of the year has seen foot traffic to fast-food places dip, and as of the most recent data, in September foot traffic was down 2.5 percent year over year.
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