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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nate Robson
Nate Robson is the U.S. Supreme Court and regulatory editor. Contact him at [email protected]. On Twitter: @Nate_Robson1.
