Consumer intent to spend increased for the third straight month in October, which may translate into moderate growth in restaurant spending through the end of the year, according to Kurt Salmon’s Restaurant Spending Trajectory.
“Absent a recession, restaurant spending typically increases during the holidays, and this year should be no exception,” said restaurant strategist Todd Hooper. “The holiday season can prompt an extra-quick meal during a marathon day of shopping or celebratory dinners with family and friends. Consumers’ increasing confidence in the economy should overcome any fear of a fiscal cliff in the next couple of months, leading to higher restaurant sales.”
8 November 2012