Thanksgiving has become a day of thanks…and shopping. It is the official kickoff of the holiday season, and that means a boost for the New York restaurant industry as well.
The economic climate had a severe effect on the restaurant industry. Consumer confidence fell. People dined in more and ate out less. Holiday parties were overall less lavish, all in an effort to cut spending. Now, however, things are looking up.
Thanksgiving is a gauge for holiday season. It is viewed by many as a good indicator of consumer behavior during the holiday season. So far, the signs have been good. The National Retail Federation estimated that a record 247 million people visited stores or retail websites over the holiday weekend, leading to an increase of 9% over last year.
Consumer confidence has reached its highest level in nearly five years; welcome news for the New York restaurant and retail industry. In-home catering, restaurants, even event venues have all seen a boost in orders. The number of restaurant buyouts and home catering has increased dramatically, according to NRA; operators are reporting an increase in bookings, money spent per person, and repeat business. And, it has helped employment as well.
Of course, many are still implementing marketing strategies in the competitive market. Online gift card sales, sweepstakes opportunity, delivery services, and promotions designed for holiday parties are focused on luring customers in.
At The Rubin Group, we have helped New York restaurants, bars, taverns, pubs, and nightclubs all over the U.S. obtain the vital insurance protection they need, but because we’re right here in New York City, we find ourselves working with a wide variety of food service facilities, cultures and venues. We know what you’re up against as a business owner. We understand the risks you face being in the hospitality industry. And we have taken the time to research and understand exactly what insurance products and coverage’s can help most and fit within your budget. Contact us today to for more information about our New York restaurant insurance programs – (877) 806-7239