Restaurant Sales Fall but Consumers Still Interested

Restaurant Sales2023WEB
Photo by Ali Inay on Unsplash.

Consumer spending trended lower as 2022 wrapped up, “flashing a potential warning sign for diminished consumer activity in the months ahead,” according to research posted Jan. 18 from the National Restaurant Association.

Eating and drinking places registered total sales of $88.3 billion on a seasonally adjusted basis in December, according to preliminary data from the U.S. Census Bureau. That was down 0.9% from November’s downward-revised volume of $89.2 billion. Non-restaurant retail sectors experienced a more substantial consumer pullback in spending.

However, the association points out, pent-up demand holds firm. It reports that 44% of adults say in a January survey that they’re not going out to restaurants as often as they would like. Additionally, 36% of adults say they’re not ordering takeout or delivery from restaurants as often as they would like.

RELATED CONTENT

MenuChanges

5 Takeaways From the National Restaurant Association’s Recent Operator Poll

The association took operators' temperatures on labor challenges, price increases, supply chain challenges and more.

November restuarant sales U.S. Census Bureau 1200x800 1

Restaurant Spending Increases for Fourth Consecutive Month

In November, Eating and drinking places registered total sales of $90.4 billion on a seasonally adjusted basis, up from $89.6 billion in October, according to preliminary data from the U.S....

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

- Advertisement -

- Advertisement -

- Advertisement -