Restaurants Hit by the Recession

Restaurant Hit by Recession

Restaurant Hit by Recession

According to the NPD Group, the number of restaurants have been on the decline from 2008-2011. This report indicates that 2.1 billion restaurants closed their doors over this time period. Chain restaurants have been holding fast, while independent restaurants are taking the hit.

The current economy is the obvious choice to blame for this decline, but let’s look at why. Consumer food spending has drastically changed since 2008. I know my family has had to cut back on eating and out and buying those expensive specialty items at the grocery store. Actually, according to the Department of Agriculture, the middle of the road consumers cut back the most. Households with an average income of about $46,000 cut food expenditures by 6.4% and food away from home by 20.8%. Between consumer food cuts and the rise in cost of food, independent restaurants are having a hard time keeping their doors open.

On another note, Dallas restaurants do not seem to be affected by the recession. A study from Bundle found that Dallas diners eat out more than any other city! They average 70% more restaurant transactions than the national average. New York City came in second place with 33% higher than average.

Evaluate the Plate, LLC
Dallas, TX

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