Coffee away from home enjoying demographic tailwind Restaurants have faced some of the same sales challenges experienced elsewhere in the economy as chains more reliant on lower income consumers have felt more pressure than those with a higher income skew. Sara Senatore discusses the opportunity that inflation and a more selective consumer have created for fast casual and even casual dining. But dining preference shifts mean that fast casual tailwinds extend beyond price gaps. Sara talks about why she expects the category to continue to take share of restaurant spending. The Away-from-home coffee is a category continues to grow even though US per capita coffee consumption has been flat to down for decades. Sara discusses why demographics could keep this running. We also address immigration, labor shortages and restaurants use of AI.   You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2025 Bank of America Corporation. All rights reserved.