Grocery sales still up, restaurants down amid COVID
Consumer spending at grocery stores continues to be higher than a year ago with restaurant sales lower, driven by the COVID-19 pandemic.
Susan Schwallie, president of food and beverage with the NPD Group, shared the numbers on a recent Center for Food Integrity (CFI) webinar, “Through the week ending November 22nd, total restaurant transactions are down 8%. Quick service restaurants are 7%. But, full service restaurants are now down 27%.”
She says grocery sales were up about 11-percent from a year ago through the end of October, “The CEO of Kroger just came out and said that it’s moderated a little bit. Although, I expect grocery sales are going to pop back up again as COVID upticks again.”
As for holiday food and retail spending, Schwallie says consumers are cautions but still plan to spend. However, people in lower socio-economic groups are spending less on food.