Restaurant traffic is expected to decline again in 2020, due in part to the upcoming presidential election.
BTIG analyst Peter Saleh said in a note on Friday that he expects restaurant industry traffic to continue its negative trend in 2020. And, according to Saleh, the decline could be even steeper as people stay in to watch political debates and the summer Olympics.
„As we saw the last time around in 2016, we believe these events could present a significant distraction from restaurant visits, which has negative implications for most of casual dining given their dependence on in-restaurant sales,“ Saleh said. „Additionally, we expect elevated media inflation this year from the presidential election, as candidates battle for voter attention on national television.
Saleh said that he estimates traffic will be negatively impacted by an additional 100 to 150 basis points, as people „opt for their couch vs. a restaurant dining room.“
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