Due to the COVID-19 quarantine, a quarter of American restaurants are likely to go out of business

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 15, 2020, 2:19 AM UTC

OpenTable tracked over 54,000 restaurants for online and phone reservations and walk-in customers.

With coronavirus affecting the food and service industry, one in every four restaurants in the US is projected to go out of business, as per the report. According to The National Restaurants Association, restaurants have seen a loss of over $30 billion in sales during March and $50 billion in April.

Reservation numbers in states like Arizona and Texas are significantly lower than last year. Scottsdale has zero reservations almost every day since 21 March.

This improved slightly on 13 May but it was down 72% from the day’s reservations in 2019. Foot traffic in Florida is down 83% YoY but has shown themost statewise gain since phased reopening from 4 May onwards.

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