Description
For the first time in more than a year, people are spending more money at restaurants than on their groceries. It’s yet another sign that the hospitality industry is bouncing back in a big way as the coronavirus pandemic begins to fade away and consumers return to normal life.
Join chef Nyesha Arrington and restaurateur Philip Camino as they break down the details of restaurant spending compared to grocery spending. Philip and Nyesha also share their thoughts on why the dynamic has flipped, how restaurants might have to start charging more, and how Amazon’s purchase of Whole Foods could continue to change things after the pandemic.
Listen to Philip and Nyesha discuss restaurant sales:
Customers are spending more at restaurants than on groceries for the first time since February 2020
Prior to the coronavirus pandemic, restaurant sales exceed grocery sales
In April 2019, restaurant sales were $63.62 billion compared to $57.25 billion for groceries
In April 2020, restaurant sales plummeted to just $29.9 billion -- a 30-year low
At the other hand, grocery sales skyrocketed up to $75 billion in March 2020 thanks in part to panic buying, COVID-19 restrictions, and the ease of grocery delivery apps
As of May 2021, restaurant sales totaled $67.3 billion -- an increase from pre-pandemic times
Links:
Happy Mouth Podcast Instagram
Restaurant Business Online - Consumers are back to spending more at restaurants than at grocers
Happy Mouth May 26 episode on food insecurity
Happy Mouth May 17 episode on the restaurant boom
We have a lot more content coming your way! Be sure to check out our other shows:
Full Comp
The Happy Mouth Morning Show
Restaurant Marketing School
The Playbook
Los Angeles is getting yet another top restaurant as Seoul’s top BBQ restaurant Daedo is coming to town and they’re bringing a lot of their amazing ingredients with them.
On this episode of the Happy Mouth podcast, chef Nyesha Arrington and restaurateur talk about Daedo’s history -- starting...
Published 07/29/21
Airports aren’t often known for their high-class food and luxurious accommodations. But one company is looking to change that, bringing world-class food and even a way to expedite your TSA screening.
On this episode of the Happy Mouth podcast, restaurateur Philip Camino and chef Nyesha Arrington...
Published 07/28/21