With consumer intentions to spend on the rise, restaurant sales should continue their seven-month climb through March, according to Kurt Salmon’s proprietary analysis. From October 2009, when consumers spent the least on dining out since before the Great Recession, restaurant spending has increased about 5%.
“Restaurant spending is on a modest yet sustainable growth path. Consumers are re-integrating eating out into their lifestyles,” said Todd Hooper, retail and restaurant industry strategist. “While our consumer tracking indicates that consumer intention to spend at restaurants may falter in the first quarter, restaurants should be planning for overall growth in 2011.”
7 February 2011