Saved by sari
Restaurants are fucked - unless they get a bailout
In the United States, there are more than a million, according to the National Restaurant Association; together, they provide 15.6 million jobs. The number of those that are considered middle-class—which pay between $45,000 and $75,000 a year—has grown 84% between 2010 and 2018, a rate three times higher than the overall economy. In other parts of... See more
Vanity Fair • “You Can’t Speak in Strong Enough Dystopian Words to Describe It”: Why the Coronavirus Pandemic Could Change Dining as We Know It, Forever
It would be glib to suggest that most restaurants can survive by simply pivoting to delivery. Indeed, many won’t—and not just because some consumers might be afraid of lukewarm trout. The bigger problem is that the most popular delivery items (appetizers and entrées) tend to be the least profitable, while delivery consumers rarely order the... See more
The Atlantic • The Pandemic Will Change American Retail Forever
What needs to happen next for restaurants? We may be headed for the worst-case scenario. Even with more government intervention,2
New York Times • David Chang Isn’t Sure the Restaurant Industry Will Survive Covid-19 (Published 2020)
No industry was spared from the effects of Covid-19, but restaurants were undoubtedly one of the hardest hit. The numbers prove the stark reality: food service industry sales fell by $240 billion in 2020 from a projected $899 billion, and more than 110,000 eating and drinking establishments closed last year nationwide (that doesn’t include what’s... See more