As a restaurant operator for 40 years, I started out wearing Western wear, then business dress (Roy Rogers Restaurants), now business casual about 8-9 years ago. I still wore a tie/jacket for business meetings, but in the last two years, I found that I actually looked out of place. I still bring a sports coat to those meetings (few far between these days!).
As you might imagine, the restaurant management is hard on neck ties. I maintained about 30 and they were ever-evolving due to getting ruined by food, etc. I finally purged most last year, saving good ties for funerals/weddings or other special events.
My office used to have "casual Friday", where jeans were allowed. I couldn't do it and still wear dress slacks (the only guy in a 30 member office). We then went to all casual this year, I still can't do it. I'm famous for my "black slacks" and hope it stays that way.
Related, a few weeks ago, I intended to drop off a suit to my local dry cleaner, which I've used for 40 years. A sign was on the door, closed after 62 years. I guess there's no need for dry cleaning if you don't wear dress clothes. Sad.