Economy First
July & August 2021 – Retail & Bar Sales
Economy First
In the month of August, Restaurant and Bar sales continue to achieve positive month-over-month growth with a 10% increase from August 2019.
Brian Westbury, Chief Economist of First Trust Portfolios, summed it up by saying; “The last category of sales to get above February 2020 levels was restaurants & bars, which finally moved into the green in April and are now up 9.1% from 17 months ago. Looking ahead, given that overall retail sales are still far above the pre-COVID trend, we expect a modest trend decline in the year ahead. However, as long as policymakers don’t completely panic because of the Delta variant, we also expect sales at restaurants & bars to buck that trend and move higher, along with sales of services not counted by the retail trade report, as America gets back toward normal.”[1]
At Delivery First, we see indications of this growth in our partner businesses. As sales increase, we are focused on helping our restaurants capture these sales across their multiple channels; brick and mortar, online orders, phone orders, and subscription orders with seamless delivery.
If you have questions on how we can further assist your business, please reach out to us at info@deliveryfirst.com or contact your account manager.
[1] Brian S. Wesbury – Chief Economist Robert Stein, CFA – Dep. Chief Economist Strider Elass – Senior Economist Andrew Opdyke, CFA – Senior Economist, July Retail Sales Report – Datawatch, August 17th, 2021. This report was prepared by First Trust Advisors L. P., and reflects the current opinion of the authors. It is based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.