New research from The Nielsen Company and Bevinco reveals that bars and restaurants are feeling the effects of the current economic downturn.
More than 40% of bar managers, bar owners, and bartenders surveyed in May report they have seen a decrease in consumer traffic, while 25% note a decrease in the number of drinks ordered and 22% say that customers are ordering less expensive drinks.
Establishments on the East and West coasts report the greatest declines, with owners and operators in California and Florida citing significant decreases in consumer traffic — 55% and 52%, respectively.
“A growing number of consumers are simply opting to stay home more often rather than go out for dinner or drinks,” Danny Brager, vice president, Client Service, Beverage Alcohol, Nielsen, noted. “As a result, sales of alcoholic beverage purchases at restaurants, bars and nightclubs are suffering as consumers seek ways to economize.”
View the full press release.