The Shake Shack Economy

The New Yorker and the rise of fast-casual dining:

"Unlike traditional fast-food restaurants, fast-casuals emphasize fresh, natural, and often locally sourced ingredients. (Chipotle, for instance, tries to use only antibiotic-free meat.) Perhaps as a result, their food tends to taste better. It’s also more expensive. The average McDonald’s customer spends around five dollars a visit; the average Chipotle check is more than twice that. Fast-casual restaurants first emerged in serious numbers in the nineteen-nineties, and though the industry is just a fraction of the size of the traditional fast-food business, it has grown remarkably quickly. Today, according to the food-service consulting firm Technomic, it accounts for thirty-four billion dollars in sales. Since Chipotle went public, in 2006, its stock price has risen more than fifteen hundred per cent."