2nd Round of Stimulus Checks Increasing National Restaurant Sales
Sam Mustafa, CEO of Charleston Hospitality Group in Charleston, SC, looks forward to the future of the Hospitality Industry as we come closer to a post-vaccinated world. As the second round of stimulus checks hit our nation, Charleston Hospitality Group and other local restaurants have noticed an increase of sales that have hit record highs since 2019.
Nation’s Restaurant News magazine anticipates that the $1,400 stimulus check distributed to Americans under a certain income threshold could lift restaurant sales by low-mid single digits for up to seven weeks. This is predicted from an analysis by Bloomberg Intelligence (Nation’s Restaurant News, 2021).
In comparison, the Bloomberg study also stated that the $600 stimulus checks that were distributed in the beginning of January 2021 boosted restaurant sales by 3% for casual-dining and 5% for quick-service for three weeks (Nation’s Restaurant News, 2021).
As many parts of the country experienced lengthier shut downs than others- quick-service stands to see more of a boost than full-service. Through the pandemic and currently, many customers are taking advantage of drive-thru, delivery and takeout. Bloomberg researchers predict another 5% boost due to this recent stimulus distribution (Nations Restaurant News, 2021).
As the sales surge, it is important that our restaurant group stay committed to fostering a safe environment for all – in correspondence to all safety guidelines provided by the CDC and State of South Carolina. The safety of our guests and employees is our main priority at Charleston Hospitality Group.
These increased revenues are promising for the restaurant industry and future of CHG. While the stimulus assists in our sales, Charleston Hospitality Group has noticed over the past few months that consumer trends have been consistent with 2019’s sales forecast – returning back to pre-pandemic numbers.
We are staying hopeful for the future of our industry and the incremental steps toward normalcy. As we experience the sales surge that comes from the stimulus checks and consumer trends, we look forward to providing each guest with an unforgettable experience that reflects our preparedness.
04, Joanna Fantozzi | Mar. “Stimulus Checks Could Give Restaurants a Boost for up to 7 Weeks, Research Shows.” Nation’s Restaurant News, 9 Mar. 2021, www.nrn.com/restaurants-ready/stimulus-checks-could-give-restaurants-boost-7-weeks-research-shows.