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Log In / Register | Jul 18, 2018

Restaurant Spending Up 6.3 Percent over Thanksgiving, Black Friday

Payments technology company First Data says consumers spent 6.3 percent more in restaurants on Thanksgiving and Black Friday this year than they did last year as overall spending surged 11.9 percent. Many restaurants were closed or had shorter hours for the holiday.

“We found restaurants definitely benefited from the overall increase in consumer spending over the holiday weekend,” said Glenn Fodor, senior vice president and head of information and analytics at First Data. “When shoppers needed a quick bite to eat between shopping trips, quick-service restaurants and casual dining spots were the go-to destinations, with $67 out of every $100 spent in restaurants getting split across these two dining types.”

First Data found that 57 percent of the growth over the two days last year went to quick-service restaurants, which captured 40 percent of overall restaurant spending at an average check of $10.90.

Casual dining saw 17 percent of growth and 27 percent of overall spending, with an average ticket of $50.65. — Bret Thorn, Nation's Restaurant News

Guy Chiarello, First Data president, speaks to Bloomberg about overall and retail spending leading up to and during Thanksgiving and Black Friday.





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