A recent survey of restaurants across the country found that many have been doing better post-pandemic than they were pre-pandemic.
Commissioned by Uber Eats and DoorDash, and conducted by Quadrant Strategies, the survey polled 300 restaurants throughout the United States. The results found that 85% of restaurants reported being in a better position now than they were before the start of the pandemic. Many restaurants polled also reported optimism for their future success, with 90% predicting they will do very or somewhat well financially in a year and 77% being confident in their ability to survive beyond COVID.
The restaurants surveyed stated that pre-pandemic measures, specifically alcohol delivery and expanded outdoor dining, were some of the main reasons for their survivability. Among those restaurants that offer delivery, 95% say that alcohol delivery increased their revenue. These statistics come as New York State opted to not extend restaurants’ ability to serve “to-go cocktails.” Meanwhile, two-thirds of restaurants surveyed built outdoor dining structures during the pandemic, and 79% of them said it had a very significant or somewhat significant impact on increasing revenue.
“Every bit of data shows that restaurants, bars, manufacturers, and everyday New Yorkers all agree that continuing to-go cocktails, delivery and shipping of beverages is welcomed and absolutely necessary to the survival of the hospitality and beverage industries. Small businesses need these lifelines more than ever as they reel back from the devastation of this pandemic. Now is the time for state legislators to come back to Albany, do their jobs, and pass this important legislation that helps New York families and keeps the lights and doors open for small businesses,” said Joe Bonilla, managing partner of Albany-based Relentless Awareness and former executive director of the Capital Craft Beverage Trail Association.
Despite the rises in revenue, restaurants continue to have concerns regarding the economic landscape caused by the pandemic. 43% of surveyed restaurants were concerned about the increasing cost of goods, with 35% concerned about employee shortages and 29% fearful of a reduced demand due to COVID. Other concerns held by restaurants include Confusing COVID rules (23%), department developed during the pandemic (21%), taxes (20%), delivery app fees (17%) and government overregulation (16%).
“It’s a season of optimism and renewal for restaurants in the U.S. Having retooled their operations during the pandemic, those that emerged are overwhelmingly bullish about surviving and thriving. An eye-popping 9 in 10 expect to be doing well financially a year from now, despite concerns about rising supply costs and employee shortages. Uncertainty about staying in business has made way for confidence about the future,” said Afshin Mohamadi, Partner at Quadrant Strategies.
Click here to read the full report.