SAN FRANCISCO — Consumer spending at restaurants dropped in April, and this slide could extend through mid-summer as consumer confidence and intent to spend continue a four-month decline, according to Kurt Salmon's Restaurant Spending Trajectory.
The proprietary index, which tracks consumer confidence and intent to spend on dining out, has been highly correlated with personal consumption expenditures at restaurants over the last five years.
"Concepts that have a special meaning for consumers will do well throughout the year despite the downturn in overall spending," said Kurt Salmon restaurant strategist Todd Hooper. "However, concepts that have gone stale or are over-reliant on price will struggle in the coming months."
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Source: Kurt Salmon
