After the restaurant industry suffered through one of its steepest declines since the Great Recession, things started to improve into December, according to The NPD Group.
Overall, customer transactions at major restaurant chains in December were down 10% compared to the same period a year ago. However, they did post a 27-point improvement from April, which was the height of the shelter-at-home and restaurant dine-in closure mandates.
When the shutdown orders went into effect in March, full-service restaurant chains relied on dine-in customers. They had few if any off-premises services when the dine-in restrictions went into effect, according to The NPD Group. These chains bore the brunt of the transaction declines throughout the pandemic.
Continue Reading for Free
Register and gain access to:
- 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
*May exclude premium content
Already have an account?
Sign In Now
© 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.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
