News

Report shows holiday season revenue decline at restaurants

December 15, 2014

Thanx Inc. has released new data today showing that over the last several years restaurant revenue declined 22 to 45 percent during the post-Thanksgiving holiday period. The dining-out lull contrasts with the country's major retailers, who earn as much as 40 percent of their revenue in November and December, according to a news release.

In a Thanx study across quick-serve, fast casual, and fine dining, the average restaurant experienced a 27-percent revenue decline in December, as compared to that year's monthly average. When expanded to the five weeks including Thanksgiving, the decline was even more severe, with revenue decreases ranging from 22 to 45 percent.

"With all the excitement about Black Friday and Cyber Monday, its easy to assume that everyone wins during the holidays – but these can be lean times for most restaurants," Thanx CEO Zach Goldstein said in the release. "In our experience, restaurants that successfully combat the downturn focus on retaining existing customers."