Industry performance and leading indicators of an improved outlook are top of mind as we enter week 8 of the COVID-19 crisis.
On the restaurant side, sales and visits bottomed out in late March and were down between 60 and 70 percent when compared to pre-COVID trends. Today things have improved so that sales are now “only” down 50 percent as compared with pre-COVID, up from a low of 60-70 percent.
In the chart below, you can see the following:
Restaurant Market Sales and Visit Trends: 3-1-2020 Through 4-26-2020
For our convenience store friends, as expected, the decline and bottoming out of sales has not been as dramatic. In the chart below, you can see the following:
Convenience Store Market Sales and Visit Trends: 3-1-2020 Through 4-26-2020
We expect the sales and visits to improve slowly as cities and states navigate through the tricky waters of reopening public, non-essential places of commerce including restaurants.
Paytronix aggregates sales and visit data across more than 400 brands to identify trends and leading indicators. Visit our site for more information on the impact of COVID-19 and market data.