US Foodservice: Expect an Even Bigger Lift From the Third Stimulus
Checks under the USD 1.9 trillion American Rescue Plan, the third and largest stimulus package since the pandemic outbreak, began rolling out mid-March. The US government expects nearly 85% of all US residents – adults, children, seniors – to receive direct payments of up to USD 1,400 based on household income. The ongoing stimulus is substantially higher than the last two in April and December 2020, which included direct payments of USD 1,200 (plus USD 500 per child) and USD 600 (plus USD 600 per child), respectively.
Recipients Spent 10% to 15% More in Restaurants Following the Last Two Rounds of Stimulus
Credit/debit card transaction data from Earnest Research, a data analytics firm that tracks the US consumer economy through foot traffic, credit/debit card spend, retail pricing, and healthcare data, shows...
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