Of all closed businesses in the beauty industry 7,002 won’t reopen (42%), a significant 43% increase since July when we reported that 4,897 of all closures in the beauty industry were permanent. The beauty industry has seen a 22% increase in closures since July, totalling 16,585 closures. Both men and women’s clothing, as well as home decor, have the highest rate of business closures. Similar to bars and nightlife, the share of permanent closures increased by 10% since July.
Retail and shopping follows closely behind restaurants with 30,374 total business closures, 17,503 of which are permanent (58%). The share of permanent closures within bars and nightlife have increased by 10% since our Economic Average Report in July. As of the end of August there were 6,451 total business closures, of which 3,499 were permanently closed (54%). Meanwhile, bars and nightlife, an industry 6X smaller than restaurants, has endured an especially high closure rate, with an increasing percentage of closures being permanent. Foods that work well for delivery and takeout have been able to keep their closure rates lower than others, including pizza places, delis, food trucks, bakeries and coffee shops. Breakfast and brunch restaurants, burger joints, sandwich shops, dessert places and Mexican restaurants are among the types of restaurants with the highest rate of business closures. The restaurant industry continues to be among the most impacted with an increasing number of closures – totalling 32,109 closures as of August 31, with 19,590 of these business closures indicated to be permanent (61%). Restaurants Remain Hardest Hit, Permanent and Temporary Closures Increase Home, Local, Professional, and Auto Services Prove Their Strength Amid the Pandemic In fact, the share of consumer interest in home and local services is up 24% between March 1 and August 31, relative to all categories on Yelp, compared to the same time last year. Towing companies, plumbers and contractors in particular have maintained a low rate of closures, with only six to seven out of every thousand businesses closed. Yelp’s closure data also shows that demand for home, local and automotive services has remained robust with a far lower rate of closures compared to restaurants and retail. Health related businesses in particular have been able to maintain a low rate of closures – orthopedists, internal medicine, hospitals, physicians, family doctors and OB/GYNs all have less than three closures out of every thousand businesses. This group includes lawyers, real estate agents, architects, and accountants – all with only two to three out of every thousand businesses closed, as of August 31.
Yelp for business professional#
In general, professional services and solo proprietors as a whole have been able to maintain a relatively low fraction of closures since March 1. Some business sectors have been able to weather the COVID-19 storm particularly well. Resilient Businesses Operating in an Unpredictable Economy Business Closures Continue to Increase Nationally Number of businesses marked closed on Yelp that were open March 1 In the wake of COVID-19 cases increasing and local restrictions continuing to change in many states we’re seeing both permanent and temporary closures rise across the nation, with 60% of those closed businesses not reopening (97,966 permanently closed). businesses on Yelp have closed since the beginning of the pandemic (observed as March 1), a 23% increase since July 10. The last Yelp Economic Average showed a decreasing number of overall closures, 132,580 in total. But despite bright spots in some sectors, restaurants and retail continue to struggle and total closures nationwide have started to increase. Yelp closure data shows that businesses providing home, local and professional services have been able to withstand the effects of the pandemic particularly well. Even in the wake of increased closures we’re seeing businesses effectively transition to new operating models while keeping their employees and consumers safe. Yet, businesses are adapting and proving their resilience through lockdowns, reopenings, a summer surge in virus cases, new ways of doing business such as outdoor dining, new mask wearing rules and backlash from anti-mask patrons, as well as milestones such as the return to school. in early March, businesses across the nation have endured six months of uncertainty. Since the first fears of the pandemic emerged in the U.S.
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