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. […]
Monday marked National French Fry Day, one of the more popular of the arbitrary food holidays celebrated annually. (It was followed by National Grand Marnier Day on Tuesday and National Tapioca Pudding Day Wednesday – who knew?)
While most of these foodie festivals pass by without much fanfare, Americans’ particular love for the deep-fried potato drives many restaurants to mark the occasion, typically by offering free fries on the holiday.
While such a reward is likely to drive visits, restaurants should be prepared to see a drop in overall check size. When a medium-sized fast casual chain used free fries as a reward during a We Miss You campaign, they saw a 3.55% lift in visits, but a 1.34% drop in spend. […]
As we enter the second half of the year, it’s a good time to take stock of where the restaurant industry is in regards to the pandemic.
We all know the story: The initial decline in March happened so fast that it sent a shock through the industry. But since cratering in March, we’ve seen a relatively consistent climb in both visits and revenue for restaurants as a whole that amounts to about .41% increase per day. Larger restaurants are recovering faster than smaller restaurants.
The seismic shift in consumer behavior brought on by the Covid-19 pandemic has changed Americans’ attitudes toward work, school and shopping; but their appetite for dining out remains.
In a survey conducted by PYMNTS, consumers listed restaurants as the second-most commonly cited reason they wanted to leave their homes. Restaurants were also ranked third in what those surveyed deemed the “most important” reason, just behind seeing family and friends and returning to work.
While consumers want to return to normal activities, they need to feel safe in doing so. Last week, Paytronix launched Contactless Dining, a new platform for engaging guests on-premise while maintaining a safe social distance.
The trend toward contactless dining options, while in its infancy, already has a strong foothold in the market: […]