Full-Service Restaurant Transactions Underscore Need for Stimulus

TableSafe Inc. revealed that customer transaction volume indicates troubling circumstances for the full-service restaurant industry following months of recovery. According to TableSafe’s data, transaction volumes declined to 50% of pre-pandemic levels in November after recovering to 60% of pre-pandemic levels in October.

TableSafe’s data is consistent with the November restaurant employment report issued last week from the National Restaurant Association, which indicated that “full-service operators (58%) were much more likely than their limited-service counterparts (40%) to say they expect to reduce staffing levels during the next three months.”

"Through October we were seeing encouraging signs of transaction growth, but this all reversed in November as the weather turned colder and new restrictions were enforced,” said Gordon Gardiner, TableSafe’s CEO. “Despite actually having more installations in November in our network of restaurants, transaction volumes declined for the first time since April. The fact that we see sustained volumes at all with many states closed is testament to the ingenuity and grit of restaurant operators.”

TableSafe’s pay-at-the-table platform is used in full-service restaurants across the country including in 20 of the top 30 most populous states, representing approximately 75% of the country’s population. TableSafe’s data is consistent with the November restaurant employment report issued last week from the National Restaurant Association, which indicated that “full-service operators (58%) were much more likely than their limited-service counterparts (40%) to say they expect to reduce staffing levels during the next three months.”

Need for Stimulus Now

TableSafe joins the National Restaurant Association in calling on Congress for a relief bill.

“The time for Congress and the White House to act is now,” Gardiner said. “Restaurants, and particularly full-service restaurants, are critical to our communities and our nation’s employment. And while many of our full-service restaurant customers continue to make important adjustments to their business to create safe experiences for their guests, they are still taking the brunt of the COVID impact.”