Inflation doesn’t appear to be affecting Richmonders’ willingness to dine out.
Driving the news: Richmond restaurants saw a 7% increase in transactions in the fourth quarter of 2022 compared with the same time the previous year, per a restaurants trends report released last week by Toast, a digital point-of-sale system for restaurants.
Why it matters: It’s a data-driven sign that inflation fears and rising prices haven’t impacted dining trends, at least at restaurants that use the Toast platform.
Zoom in: Diners spent an average of $101 pre-tax on Valentine’s Day at Richmond restaurants this year, per Toast. V-Day spending was up around 75% nationally (including tax and tip) from five years ago.
- Richmonders ordered 6% more delivery on Super Bowl Sunday this year compared with last year.
The intrigue: More people are tipping at quick-service or fast casual restaurants than ever before, but the size of tips has generally gone down, Toast found.
Yes, but: Richmond tipping percentages were the fifth highest of the 12 U.S. markets Toast analyzed.
More Richmond stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Richmond.