The Rebound Continues in Food Services and Drinking Establishments
Posted on April 16, 2021
Retail Sales Data Trends Sees Positive Increases
Advance retail sales data for Food Services and Drinking establishments was released for March 2021 on April 15. Total Sales reported was $62.2 billion for the month.
By comparison, that is a $16 billion (or 36%) increase over March 2020 data and the highest recorded month of sales since February 2020, when $65.5 billion of sales were recorded.
Keiter Advisors Take
Based on discussions with distributors and the release of this data, the rebound is in full swing, but is still somewhat geographic dependent. In certain areas of the country, sales appear to be exceeding pre-pandemic levels, while other parts of the country (particularly in colder climates), sales haven’t quite reached pre-pandemic levels. Nevertheless, foodservice sales are seeing a strong uptick and demand is returning quickly. We expect this trend to continue as a larger share of the country is vaccinated.
Food Services & Drinking Establishment Monthly Sales ($ in Millions)
Source: US Census BureauReturn to All