It’s the anniversary of the onset of Covid-19 lockdowns and the resulting damage to businesses across the country. Hard to name another industry that fell with the same immediacy or severity as the restaurant industry. Here’s the story as told by the data.
COVID-19’s impact on the restaurant industry was fast and deep. MarginEdge, which provides back-office platforms, analyzed sales and operational data from nearly 2000 restaurants in 47 states and estimated a drop in sales of 66% between March 11 and March 22, when most of the nation was under strict lockdown.
The global pandemic, which was declared by the World Health Organization on March 11, 2020, has — through a series of alerts, lockdowns and quarantines aimed at slowing the coronavirus’ spread — accelerated change, transformed hospitality and, sadly in some quarters, decimated the industry.