• Beware of Expensive Real estate.

    To be successful in real estate, you must always and consistently put your clients' best interests first. When you do, your personal needs will be realized beyond your greatest expectations.
  • From Our Real estate to Yours

    Real estate sales was perfect training for the experience to go into public life because you learn to accept rejection, learn to meet new people, learn to work with people and find common ground. That's the way you sell houses... that's also the way you win over constituency.

Customer Transactions Tapers Off for Restaurants Under Covid-19

Posted by: | Posted on: August 28, 2020

A decline in customer transactions at restaurants hit single digits for the first time in months after the COVID-19 pandemic wreaked havoc on the economy.

Customer transactions were down 9% in the week ending on Aug. 16 compared with the same period last year, according to The NPD Group. That dip represents a 35-point gain from the steepest drop seen in the week ending on April 12. Transactions dropped 44% that week compared with the previous year.

The weekly report of transactions covers 75 quick service, fast casual, mid-scale and casual dining chains, which represent 53% of commercial restaurant transactions in the United States, according to NPD.

The restaurant industry has been especially hard-hit by the pandemic, which has forced offices to close; dine-in facilities to transition to take-out and delivery; and led to a spike in layoffs and unemployment claims earlier this summer. Data from Yelp and OpenTable indicates several restaurants were forced to permanently close as a result of the virus.

Customer purchases at quick service chains, which represent the bulk of the restaurant industry’s transactions, were down 8% in the week ending in Aug. 16, compared with the same period a year ago.

Full service chains, which were the most affected by state-mandated closures of dine-in facilities due to COVID-19, and which are now slowly reopening, saw transactions decline 19%, according to NPD. That’s a 57-point improvement from the steepest decline of 76% seen in the week of April 12.

“Although transactions are still down, the move into the single-digits is a positive sign for the U.S. restaurant industry,” says NPD food industry adviser David Portalatin. “Although we’re stuck in neutral for now, I firmly believe there is still a lot of upside recovery for restaurants. My belief is rooted in one reality: consumers are not willing to give up on the convenience and experience a restaurant meal brings to them and their families regardless of the barriers.”

Source link