Restaurant Sales Are Up, But Foot Traffic Is Down. Why Is That?
The third quarter was a good quarter for chain restaurants. However, more sales do not necessarily translate into more customers. Lisa Miller, President, Lisa W. Miller & Associates, gives her take on why consumers and restaurant operators alike are seeing such dramatic changes in sales and traffic volume:
“So restaurant sales are up, and traffic is down. Why is that? 70% of Americans are basically saying it’s not worth it. Prices have gone up too much. We know that there’s a labor shortage and maybe their favorite item that they came in for isn’t even available. So it’s just not that joyful anymore.
So what can operators do basically, instead of just taking? Ask yourself, how do I add value to the experience? What can I do to make it worth not only their money but worth their time? So don’t just take the price, make sure to add value.”
