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June 15, 2020
Phase 1 vs. phase 2 reopening – impact on restaurant sales
The Phase 2 reopening party is in full swing!
As you may remember, we used indoor dining as our differentiator between restricted and reopened markets in our numbers. By our count, all but 12 states (including DC) now allow restricted indoor dining, with several joining the reopened ranks last Friday.
We know that there is a lag between a market reopening and the corresponding increase in sales and decrease in closures. We decided that it would be helpful to showcase the difference between markets that reopened in May versus the ones that just had their restrictions lifted, and hold that against the markets still in Phase 1.
Behold, a brand new view on the numbers:
A couple of things we notice here. First, the first markets to reopen were the markets who had a lighter overall COVID impact. You see their lowest point is well north of the lowest point across the rest of the markets, but their climb after entering Phase 2 was steep. You can see that our Phase 2 newbies have a little more ground to cover, but the numbers are already showing the reopening impact. Our hope is that we can start to track the time-from-reopening-to-sales-
You can find the rest of our numbers below!
PS – For those following along on these notes, but are not a MarginEdge client, we would love to include your numbers in our data set and continue to build out the value of the reporting. We are giving our MarginEdge Lite product for free for the rest of the year (normally $15/month). This little tool connects your POS to accounting system and creates journal entries – hopefully time saving for you while increasing our sample size as we track recovery across our network. Obviously no obligation or commitment, just an offer for those interested!
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