{"id":3721,"date":"2020-09-22T08:53:20","date_gmt":"2020-09-22T12:53:20","guid":{"rendered":"https:\/\/lgcassocprod.wpengine.com\/?p=3721"},"modified":"2024-04-29T10:21:37","modified_gmt":"2024-04-29T14:21:37","slug":"customer-confidence-statistics","status":"publish","type":"post","link":"https:\/\/lgcassociates.com\/es\/customer-confidence-statistics\/","title":{"rendered":"Hospitality in the News | Customer Confidence Statistics"},"content":{"rendered":"

Every week we comb through the news to find employment trends affecting the hospitality\u00a0<\/span>industry<\/span> so you don\u2019t have to. This week\u2019s topic: customer confidence statistics regarding w<\/span>hen returning to bars and restaurants.\u00a0<\/span>\u00a0<\/span><\/p>\n

It\u2019s no secret that the foodservice industry was hit the hardest in terms of revenue and lay-offs since the coronavirus\u00a0<\/span>forced nationwide closures\u00a0<\/span>six months ago.\u00a0<\/span>While some states<\/span>, like Georgia,\u00a0<\/span>allowed their restaurants to reopen<\/span>\u00a0(with restrictions)<\/span>\u00a0<\/span>as early as mid-May<\/span>,\u00a0<\/span>others, like New York, are just allowing limited capacity dine-in at the end of September.\u00a0<\/span>\u00a0<\/span><\/p>\n

Besides the overall concerns regarding\u00a0<\/span>contracting COVID, the hospitality industry\u00a0<\/span>had<\/span>\u00a0additional\u00a0<\/span>fears<\/span>;\u00a0<\/span>C<\/span>an the virus\u00a0<\/span>travel on food surfaces<\/span>\u00a0and\/or packaging<\/span>,<\/span>\u00a0and\u00a0<\/span>can it\u00a0<\/span>be\u00a0<\/span>transferred that way? As we\u2019ve come to find,\u00a0<\/span>it’s<\/span>\u00a0<\/span>extremely unlikely<\/span>, and is mo<\/span>stly spread \u201cwhen someone coughs, sneezes, or talks\u201d according to the CDC. Because of this,\u00a0<\/span>concerns continue to arise surrounding inside vs.\u00a0<\/span>outside\u00a0<\/span>dining, especially as the U.S. be<\/span>gins its decent\u00a0<\/span>into the colder months where outside dining won\u2019t always be possible.\u00a0<\/span>\u00a0<\/span><\/p>\n

With\u00a0<\/span>all of\u00a0<\/span>this considered, the most important question remains:\u00a0<\/span>How do consumers feel<\/span>\u00a0about returning to their favorite restaurants and bars<\/span>? Below\u00a0<\/span>we\u2019ll outline some of the most prominent stats on consumer confide<\/span>nce we\u2019ve seen over the last several weeks to help determine how guests are feeling about the future of din<\/span>ing out.\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Customer Confidence Statistics<\/strong><\/h5>\n

\u201cIn the week ending August 16, customer transaction declines at major restaurant chains improved into the single-digits after 21 weeks of double-digit declines. Customer transactions were down -9% in week ending August 16 compared to year ago, a +35-point gain from the steepest decline\u00a0<\/span><\/b>of –<\/span><\/b>44% in week ending April 12.\u201d\u00a0<\/span><\/b>(<\/span><\/i>Via The NPD Group<\/span><\/i><\/a>)<\/span><\/i>\u00a0<\/span><\/p><\/blockquote>\n

In this statistic, \u201cmajor restaurant chains\u201d included \u201cquick service, fast casual, midscale, and casual dining chains representing 53% of the commercial restaurant traffic in U.S.\u201d<\/span>\u00a0<\/span>B<\/span>etween April and August, consumers steadily felt more and more comfortable visiting<\/span>\u00a0these<\/span>\u00a0restaurant<\/span>s\u00a0<\/span>likely<\/span>\u00a0<\/span>due to their continued prioritization of safety standards<\/span>\u00a0and because their business model easily allows for takeout or delivery.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cIn the most recent round of surveys between June 26 and June 29, just over 3,000 people were surveyed. Of those respondents, only 40% said they would go out to dinner within a month of the curve flattening. 20% of survey respondents said they would go out to dinner two to three months after the curve flattened, while 17% said it would take them four to six months to do so. 10% said it would take them seven to 11 months to dine out, while 11% said it would take them at least a year. 2% said they would never feel comfortable dining out again.\u201d<\/span><\/b>\u00a0<\/span><\/b>(<\/span><\/i>Via Business Insider<\/span><\/i><\/a>)<\/span><\/i>\u00a0<\/span><\/p><\/blockquote>\n

Although this piece reports on stats from 12 weeks ago,\u00a0<\/span>it\u2019s good to keep in mind when considering the fluctuation in new cases that we\u2019ve been seeing over the last\u00a0<\/span>few\u00a0<\/span>months.\u00a0<\/span>For example, if one state were to\u00a0<\/span>see a severe rise in new cases during the month of October,\u00a0<\/span>we could use the above information to presume that 20% of people would wait until at least December before returning to dine at a restaurant.\u00a0<\/span>These percentages also\u00a0<\/span>indicate that restaurants reopening alone isn\u2019t enough\u00a0<\/span>to bring back every customer.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201c[<\/span><\/b>Between April 7-September 13<\/span><\/b>], 34% of U.S. adults said they are comfortable dining out right now.\u201d<\/span><\/b>\u00a0<\/span>(<\/span><\/i>Via\u00a0<\/span><\/i>Morning Consult<\/span><\/i>)<\/span><\/i>\u00a0<\/span><\/p><\/blockquote>\n

During the survey, when consumers were asked when they would feel comfortable going out to eat, the responses broke down as follows:<\/span>\u00a0<\/span><\/p>\n

Next month \u2014 30%<\/span>
\nMore than 6 months \u2013\u2013 27%<\/span>
\nDon\u2019t know\/no opinion \u2013\u2013 20%<\/span>
\nNext 2-3 months \u2013\u2013 13%<\/span>
\nNext 6 months \u2013\u2013 9%<\/span>\u00a0<\/span><\/p>\n

In comparison to the statistic\u00a0<\/span>above\u00a0<\/span>presented by\u00a0<\/span>Business Insider,\u00a0<\/span>it appears that\u00a0<\/span>consumers began feeling more comfortable with dining out towards the end of June, but since then,\u00a0<\/span>have not seen a significant change in comfort level.\u00a0<\/span>\u00a0<\/span><\/p>\n

Key Takeaways<\/span><\/b> from Customer Confidence Statistics<\/span><\/p>\n