YEA: Restaurants Showing Resiliency with New Openings

6 Min Read By MRM Staff

New restaurant and food businesses are opening at pre-pandemic levels, with the number of new openings increasingly more in line with 2018 and 2019 volumes, according to third quarter data for the Yelp Economic Average (YEA) report.In addition, 210,000 businesses have reopened that were once temporarily closed, with a large increase of reopenings in September 2020. The YEA reflects data from millions of local businesses and tens of millions of users on Yelp’s platform, measuring U.S. business openings and reopenings, as well as consumer interest trends via search data, page views, reviews and photos.

“Business owners have proven their resilience throughout the course of this pandemic. Many have been able to successfully reopen and keep their doors open by quickly innovating and adapting new operating models to serve their customers,” said Justin Norman, Yelp’s vice president of data science. “Restaurants in particular have been tested in the last six months, but we’re…