Industry analysts in the retail and food and beverage industries in the U.S. remain cautiously optimistic ahead of the holidays, as foot traffic at retail centers rallies and results for dining remain mixed. According to a new report from Black Box Intelligence, restaurant performance remains varied, driven by shifting consumer preferences and persistent challenges to consumer confidence following the pandemic.
Placer.ai found that retail foot traffic showed resilience in October, particularly in open-air shopping centers and outlet malls, while restaurant industry data from Black Box Intelligence paints a more complicated picture. Quick-service and fast-casual chains have benefitted from a sustained focus on value and convenience, showing positive sales growth in October compared to the same period last year. However, full-service restaurants are struggling to maintain momentum, particularly in areas recovering from natural disasters, such as the Southeast.
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