Quick-Service Restaurants See an 11% Traffic Boost From Coronavirus
While the coronavirus pandemic has made the revenues of many dine-in restaurants drop like a rock, new research suggests quick-service restaurants (QSRs), otherwise known as fast-food restaurants, are making bank during the outbreak. Among the biggest beneficiaries, according to Placer.ai, are Chipotle Mexican Grill (NYSE: CMG), Popeyes (NYSE: QSR), and privately held Chick-fil-A. Other big QSR brands saw more modest gains, according to Placer.ai and Foursquare.
According to Foursquare, QSR foot traffic rose 11% from mid-February to mid-March across the United States. Even in big cities with significant outbreaks, such as New York City, traffic climbed 9%.
Image source: Popeyes Louisiana Kitchen.
Source Fool.com
