As of August 31st 163,736 businesses have let Yelp know they are still closed. A total of 97,966, which represents 60% of closed businesses are said to be permanently closed. Covid19 has effected our way of life for more than 6 months and the trend of consumers going to physical locations has not risen significantly enough to help sustain many businesses. The data Yelp uses is from it’s app that they monitor such as hours and description. Breakfast and Brunch locations have been hit the hardest also men’s clothing, gift shops and food trucks. This shows the trends that people have pivoted to online shopping and are pretty much sticking with this as well as many are still working from home. Large cites also note for the highest amount of closures which at the top of the heap is Los Angeles and New York City. The outdoor dining in the cities may make a difference for some restaurants. The key has been how well businesses have been able to adapt and make adjustments to helping service more clients utilizing online services seem to be the most beneficial. Notably, accountants, lawyers, auto repair and landscaping has been able to fair much better.

For the full report click link below.

https://www.yelpeconomicaverage.com/yea-q2-2020.html

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