Npd Group Save The Restaurant Industry
NPD Group Save The Restaurant Industry
There were 15.1 million restaurant industry employees in the United States in January of this year. 7 in 10 restaurants are single-unit operations, and 9 in 10 restaurants have fewer than 50 employees according to the National Restaurant Association.
David Portalatin, NPD food industry advisor and author of Eating Patterns in America stated “As we move into the weeks ahead the possibility exists for setbacks in restaurant customer transactions. Up until July 31, somewhere between 25 and 30 million Americans were receiving Federal Pandemic Unemployment Compensation as part of the federal government’s CARES Act, which has provided $600 a week of enhanced unemployment benefits,”
Portalatin continued “These unemployment benefits translated to between $15-18 billion per week being put into consumers’ bank accounts, and for context, total restaurant industry sales right now are a bit less than $8 billion per week. Although the benefits don’t entirely evaporate on August 1 because of backlogs and late claims, the loss of the $600 a week unemployment benefit could adversely affect the restaurant industry.
Steven Johnson, Grocerant Guru® at Tacoma, WA based Foodservice Solutions® stated “extending the Federal Pandemic Unemployment Compensation as part of the federal government’s continued stimulus program, including providing $600 a week of enhanced unemployment benefits is important as 10% of the U.S. Work Force is employed in restaurants.
The stimulus is just that stimulus for the economy restaurants are at minimum 10% of our work force. The ability to maintain a job, away of life, and the culture of our local communities is at stake. If we can spend $ 100 of Billions to save Air Lines, Airport, Cruise Ships, and in the past Big Banks and the Auto industry lets save our local restaurants, neighborhood jobs, local banks, and way of life.
Foodservice Solutions®’ team is here to help food retailers drive top-line sales and bottom-line profits. Are you looking a customer ahead? Visit GrocerantGuru.com for more information or contact: Steve@FoodserviceSolutions.us Remember success does leave clues and we just may the clue you need to propel your continued success.