CNBC: Valentine’s Day Falls on a Wednesday this Year and That’s Bad News for Restaurants

Consumers often spend more money dining out on Valentine’s Day. But according to a CNBC article, the fact that the holiday falls on a Wednesday this year means that brands may not see as much activity as they’re used to.

Unsurprisingly, restaurants see the most activity when Valentine’s Day falls on a weekend. Bonnie Riggs, an analyst for NPD Group, told CNBC, “When it falls during the middle of the week, I don’t think operators make as much. They aren’t as busy as they would be if it was on a weekend.” And that’s backed up my data from NPD Group’s Checkout Analytics. Consumers who ate out at fine dining establishments on Valentine’s Day in 2016—when it was on a Sunday—spend an average of $166.44, which is $40 more than 2017. At restaurants like IHOP and Denny’s, customers spend an average of $10 more in 2016 than they did in 2017. The only segment of the restaurant industry that had a higher check average on Valentine’s Day in 2017 was quick service, including brands like McDonald’s and Taco Bell.

In order to attract customers on Valentine’s Day this year—even though it’s on a weeknight—restaurant brands and franchises are introducing holiday themed LTOs.

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