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Economy

Restaurant Visits Ease in The Week Following ‘Eat Out to Help Out’

Source: https://huq.io/indicators/restaurant-visits-ease-in-the-week-following-eat-out-to-help-out/

The growth in visits to Restaurants over the course of August is plateauing, with the Huq Index for Restaurants & Pubs falling 17% from its recent high at the end of the Chancellor’s ‘Eat Out to Help Out’ scheme. Has the boost delivered by the scheme produced a lasting result? How will recent gains continue over the coming weeks without the same levels of government support?

Over 100m meals were bought through ‘Eat Out to Help Out’ in August, and Monday-to-Wednesday became the new ‘weekend’ for many restaurants. According to Huq Index for Restaurants & Pubs, footfall almost tripled from 30% of pre-Covid levels at the end of July to 85% towards the end of August. However, with September bringing the deal to a close, high-frequency geo-data has seen this rapid growth slow.

The scheme clearly had a positive halo effect on consumer confidence beyond Monday-to-Wednesday, with Restaurants, Quick Service Restaurants and Pubs all enjoying more visitors throughout the week. While attendance may have slowed in September, the geo-data suggests that more consumer confidence established throughout August could mean a busier post-Covid sector in the coming months – with or without the Chancellor picking up half the bill.

With many restaurants taking it upon themselves to continuing to extend the offer into September, sport coming back and more confidence overall, further analysis Huq’s Indicators will show how the sector continues to recover.

To learn more about the data behind this article and what Huq has to offer, visit https://huq.io/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

Advan

Advan provides hedge funds and institutional investors with unmatched insights into both foot and vehicle traffic to enable better investment decisions. Using precise, manual geofencing, it has the most extensive and accurate location data, available in seconds through an intuitive, self-service dashboard. Its institutional-grade analytics allow fast and actionable insights into customer behavior and corporate activity.

Advan is headquartered in New York City. For more information please visit www.advan.us