This article was written by Kristi Turner, CMO of Compeat
Key Takeaway: Restaurant sales of Compeat customer base hold flat in August with a glimmer of hope with first week of Sept showing slight growth. In a world with fear of further decline, this is great news for our industry.
If open restaurants can continue the recovery climb back for the remainder of the year, things will seriously be looking up for our industry.
Top metro cities across the country have traditionally been hit the hardest during these unprecedented times. As we look at restaurant sales in key metro cities we see encouraging average weekly growth throughout August with New York City (5%), Washington D.C. (5%), San Francisco (4%), Atlanta (4%) and Los Angeles, Phoenix, Miami and Seattle all at 3%.
Industry data experts, Black Box Intelligence also reported “August posted the best sales results since February.” You can Black Box Intelligence’s full monthly analysis here.
State by state variances in restaurant sales is still a fascinating story with little associated logic. In August 2020 three states – Florida (3.06%), Louisiana (3.41%) and Mississippi (3.02%) – rose above the 3% of COVID cases as % of state population. Yet these same states have experienced decent increase in restaurant sales since our rock bottom week of Mar 28th – Florida (192%), Louisiana (289%) and Mississippi (224%)
The cumulative increase of restaurant sales since our rock bottom week of Mar 28th through the end of August has averaged 255% nationwide with 11 states over 300% in growth. Wisconsin (618%), Nevada (575%), Minnesota (512%), New Jersey (476%) and Nebraska (436%) have led the nation in growth.
In August, Compeat customers saw a new high point with an average of 81% of all locations open for business. This is cause for celebration compared to low point in mid-March where we saw only 60% of our customer locations open for business.
Compeat continues to offer our customers best practices, free refresher training webinars and alternative operations strategies to encourage and support our customers as they rebuild their business operations. August data is encouraging and we continued to be amazed by our customers passion and resilience.
You can find all the latest industry data and tips for best practices on our Compeat COVID-19 resource page.
Sources and Disclaimers: The source for COVID-19 cases data as a percent of population as well as reopen vs closed states is the CDC website as of 9.5.20. Restaurant sales data is derived from all Compeat customers across the United States as of 9.5.20. Compeat has customers across different types of restaurants from fine dining to fast casual to quick service. However, we are heavily weighted toward fast casual concepts. There are certain states that have less restaurant locations than others. As such, data shared above should be taken with the above considerations.