Yelp: Local economies across US showing ‘strong’ signs of recovery as new businesses spike – Portland, Oregon

Portland, Oregon 2021-04-22 02:28:00 –

(NEXSTAR) – According to Yelp, local economies across the country are showing a “strong signal” of recovery.

Using data from crowdsourced review sites, Yelp’s Economic Average Report for the First Quarter of 2021 shows a surge in new business openings and resumptions across the country. Not surprisingly, this data is consistent with a nationwide decline in coronavirus cases, rising vaccination rates, and growing interest in services that were more popular before the pandemic.

inside that First quarter report New businesses grew exponentially in the first quarter, with a total of 146,486 new lists shared on Yelp, according to Yelp data released Wednesday. This corresponds to a decrease of only 2% from the same quarter of 2020 and an increase of 4% from the same quarter of 2019. Companies also occupy the “highest level” of brand new facilities listed on Yelp in a year.

Popular new facilities included restaurants, specialty markets, and other food businesses, especially those offering takeaway and outdoor dining. Bakeries and dessert shops were also very popular, according to the report, “during the pandemic, people continue to transform their pandemic hobbies into new ventures.” Home service specialists also experienced first-quarter opening and growing interest as homeowners continued to embark on remodeling projects and look for realtors to help them buy and sell new locations.

For existing businesses that were closed early in the pandemic, Yelp recorded more than 500,000 reopenings of these businesses last year, with monthly reopenings in the first quarter outpacing monthly reopenings since July 2020. I will. Among the strong categories such as salons, gyms and traditional restaurants, the highest nationwide reopening rates in the first quarter were tax services, massage services, specialty restaurants or food service facilities (coffee shops, bars, etc.) It was a breakfast or brunch only restaurant).

However, Michigan (979, up 39% from Q4 2020), Alabama (1,921, up 35%), Maine (450, South Carolina (2,493 openings, up 31%), Michigan (3,557 openings, 30% increase).

“In each of these states, pandemic restrictions have been relaxed, including allowing more than 50% capacity to eat indoors and relaxing restrictions on mass gatherings during March,” Yelp said. Said in the first quarter report.

Only one state across the country saw a decline in new openings in the fourth quarter of 2020. Yelp in North Dakota had 206 new businesses from 210 in the previous quarter. This is a 1.9% decrease.

Yelp’s Economic Average Report shows the potential for a recovery in the national regional economy, but is based on data provided only to Yelp by platform users in new or reopened businesses. Consumer interest and demand trends for a particular service or product are based on the views of a particular company on a website or the reviews and photos left on that Yelp page.

For more information on the percentage of new and reopened businesses in each state, see the following URL: Yelp..

Yelp: Local economies across US showing ‘strong’ signs of recovery as new businesses spike Source link Yelp: Local economies across US showing ‘strong’ signs of recovery as new businesses spike

Back to top button