Report: Restaurant Sales Dropped by $240 Billion in 2020

Window Of An Empty Restaurant Forced To Close Amid Covid 19 Pandemic
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WASHINGTON, D.C. – The National Restaurant Association has released its 2021 State of the Restaurant Industry Report, which measures the impact of the coronavirus pandemic on the restaurant industry and examines the current state of key pillars including technology and off-premises, labor, and menu trends across segments based on a survey of 6,000 restaurant operators and consumer preferences from a survey of 1,000 adults. The report also provides a look at the path to recovery for chains, franchises, and independents and the year of transition ahead.

Key findings regarding the impact of coronavirus on the restaurant industry include:

  • Restaurant and foodservice industry sales fell by $240 billion in 2020 from an expected level of $899 billion.
  • As of Dec. 1, 2020, more than 110,000 eating and drinking places were closed for business temporarily, or for good. 
  • The eating and drinking place sector finished 2020 nearly 2.5 million jobs below its pre-coronavirus level.

“As we approach the one-year mark of pandemic-related dining restrictions, we know that virtually every restaurant in every community has been impacted. Amid an ever-changing landscape of dining restrictions and widespread closures, restaurants found ways to adapt, keep people employed, and safely serve our guests,” said Tom Bené, president and CEO of the National Restaurant Association. “While we still have a long way to go, we are confident in the resilience of the industry’s workforce, operators, suppliers, and diners. The year ahead will be critical as we continue to advocate for much-needed recovery funds to help get our industry back on track. Working together as one, I am confident in our ability to continue safely serving our guests and supporting our communities.”

Click here to view the complete report.

 

Categories: COVID-19, Dining/Entertainment, Food, Hospitality, Today’s Business News