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.
Share this Feature
Comments:comments powered by Disqus
- Multi-Unit Franchising
- Get Started in Franchising
- Open New Units
- Featured Franchise Stories