Commercial Market Insights National Association of REALTORS® Research Group Deliveries: Ghost Kitchens June 2020

The coronavirus has impact every aspect of the U.S. economy and posed massive obstacles as stay-at-home orders were implemented and business operations ceased with the exception of “essential businesses”. The impact of the coronavirus has resulted in the closure of many restaurants and bars. As individuals made preparations for sheltering-in-place, food services & drinking places total sale estimates for the month of March, came in at $48 billion which is a 26% reduction from February. April 2020 is the largest monthly reduction recorded according to advanced estimates. Advanced monthly sales for retail and food services for April 2020 were $403.9 billion. This figure represents a decrease of 16.4% (+/-0.5%) from March figures. The downturn in retail and food service sales is synonymous with the 7.5% contraction of consumer spending realized in March. The decline in consumer spending is, in part, due to the reaction of the coronavirus pandemic, as governments put “stay-at-home’ orders into effect. The result of the order caused changes in demand, as businesses and schools transitioned into remote work operations or ceased operations completely and thus consumers adjusted accordingly by restricting, rerouting and eliminating non-necessary spending. Click to read more at