Restaurant Sales Declined in the Last Quarter of 2022

Restaurant Sales Declined in the Last Quarter of 2022

Restaurant Sales Declined in the Last Quarter of 2022

Restaurant sales and traffic experienced a drop-off as 2022 came to a close, according to new data from the National Restaurant Association (NRA). Restaurant sales in December fell to $88.3 billion, down 0.9% from November’s volume of $89.2 billion. Inflation is one key factor as consumers dialed back eating out.

Meanwhile, consumer spending in non-restaurant retail sectors dropped 2.3% between October and December – more than double the 1.0% decline in restaurant sales during the same period.

Nevertheless, the NRA’s data suggests consumer demand remains. Forty-four percent of adults say they are not going out to restaurants as often as they would like, according to a survey in January. That number is comparable to similar surveys from May 2022 and September 2022 (both 46%). Another 36% of adults say they are not ordering takeout or delivery from restaurants as often as they would like, a number also in line with other 2022 surveys.

Published: January 23rd, 2023

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