The final weeks of June and early half of July ushered in a new era of the pandemic, as southern and western states that had largely evaded the worst of Covid-19 became new virus hotspots. The rising number of confirmed cases and hospitalizations forced many states to order restaurants shutter their dining rooms – again – and meant fewer drivers on the road as other businesses wound down operations.
Despite the setback, Paytronix data shows that the restaurant industry’s recovery has slowed, but not reversed. In late March and into early April, restaurant sales dropped to 30% of pre-COVID levels. Starting in the middle of April we saw sales recover at a rate of 0.4% – 0.5% per day, reaching 70% of pre-COVID levels by the July 4th weekend. […]