Across all states, value velocity remains strongly positive compared to last year, with all states either ahead or comparable to 2019, CGA data for the week ended July 10 shows.
Average outlet dollar sales (velocity) trends are slightly negative (-1%) in the latest week (July 10 vs July 3) across the average U.S. outlet, following declines of -8% across the July 4 weekend.
While velocity was down across the weekend of July 4 vs the previous weekend, after these declines, all states also experienced a recoup of velocity on Saturday July 10 vs Saturday July 3. One reason: All states have bars and restaurants open indoor completely (with no capacity restrictions).
Matthew Crompton, CGA Client Solutions Director, Americas, said: “Although there were declines across most states across the July 4th weekend, overall value velocity remains strongly positive compared to last year and ahead of 2019 levels. The market has recovered a lot quicker than anticipated, and suppliers and operators alike have the opportunity to target consumers returning to the On Premise with a tailored approach to maximize spend.”
Comment: We were in Norfolk over the July 4 weekend and visited Kelly’s Tavern in Ghent. We were surprised at how relatively empty it was.