Black Box Intelligence Releases November Industry Snapshot
Black Box Intelligence (BBI) released their November Restaurant Industry Snapshot today containing sales performance and trends.
Additional snapshot metrics include job growth and turnover numbers, provided by sister company People Report, and the Restaurant Industry Willingness to Spend Index, provided by Connecticut based partner, Consumer Edge Research (CER).
“Although sales continue to be in positive territory, one of the biggest issues for the industry is negative traffic counts," states Bill Schaffler, Chief Operating Officer for BBI.
"We are encouraged however by Consumer Edge’s research indicating restaurant customer willingness to spend may have already bottomed out a few months ago. This may be a good sign heading into the holidays."
Highlights for November include positive comparable store sales of .83%, in spite of negative guest traffic of (-2.20%).
Sales were positive in both, food and alcoholic beverages, a trend observed all year.
Results were most positive in Florida posting positive 1.87% for the month, while the Southwest fared the worst, with negative sales and traffic of (-.9%).
BBI currently reports on 97 DMA’s. Job growth of 2.1% was positive and may be a reaction to the national unemployment rate going from 9.2% to 8.6%.
Management turnover for the month was up while the hourly turnover rate went down for the month; although both management and hourly turnover is up for the year.
The CER Restaurant Willingness to Spend Index, calculated monthly from household surveys of over 2500 consumers, was up for the second straight month after bottoming out in September.
To download the Restaurant Industry Snapshot and view our monthly vlog presented by Black Box Intelligence COO, Bill Schaffler, click here.