The restaurant industry is experiencing “the most significant drop in total U.S. restaurant counts since the recession,” according to research firm The NPD Group. As of September 30, 2016, America’s restaurant count dropped by 2 percent from the previous year to 620,807 units. Meanwhile, a Reuters/Ipsos poll finds one-third of adults are eating out less frequently than three months ago. With traffic flat and lunch visits also going down, owners “need to heed the changing dynamics and adjust their strategies accordingly,” an expert warns.
Do these dismal numbers signal a restaurant recession? Find out more at PMQ.com.