The COVID-19 omicron variant impacted the retail and restaurant industry during the critical holiday season, a time period many were counting on to make up for losses.
But new data shows that as fast as the variant swept through cities across the country, it may roll out just as quickly to allow consumers and businesses get back on track toward recovery.
Lisa W. Miller & Associates, a Dallas-based business consulting firm, conducted back-to-back waves of research in January to monitor omicron’s impact.
“While it might not feel like it at the moment, the long-term view shows how far we’ve come in spite of the surges. From our January 17th research, consumer positive sentiment is already ticking back after a dip in December, telling us that consumers are moving beyond Omicron,” the report states.
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In the survey, 1 in 4 Americans reported that they will be back to pre-pandemic dine-in frequencies in about a month.
This is a stark difference from earlier December data, which showed consumers pulling back on restaurant visits. 54% of Americans stated then that they were dining out less or had stopped dining out altogether. The December numbers are still a far cry from the March 2020 results, which showed 80% of consumers declining to dine out at all.
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The Texas Restaurant Association highlighted similar data in their own report, released this week during a press conference to push Congress for more funding in a crucial program meant to help struggling restaurants.
“The omicron variant hit Texas during the most important season for restaurants – the holiday season,” said Emily Williams Knight, president and CEO of the Texas Restaurant Association. “Things were looking up last fall but as we stand here today, I’m extremely worried."
Restaurants have already been dealing with cost increases due to the supply chain disruptions, inflation and the labor shortage.
By Jan. 17, the number of Americans dining out less had dropped to 49%, showing 10 million more people dining out this month versus December.
Lisa Miller, founder of LWM & Associates, has been tracking consumer sentiments since March 2020 and has polled more than 40,000 consumers as part of her "Journey Back to Joy" surveys and reports published monthly.
In January’s report, consumers that were surveyed also expressed concerns over dine-in experiences that prompted them to opt for take-out and curbside delivery, or even cooking at home due to increasing COVID-19 cases in their location.
“We still have several consumer issues that need immediate attention to accelerate consumers getting up off their sofas and back into your restaurants. Consumers are still wrestling with need for joy vs concern or fear of COVID,” she said in the latest report. “Ask yourself, how joyful is the experience that you are delivering? Are you leading with joy and reassuring with safety? Both still matter as much today as in the past.”
