Yelp Economic Average Finds Increases in Consumer Interest Correlates With Increase in Vaccinations
Business reopenings rise across the country, spiking in the second quarter of 2021
New business openings for home, local and automotive services increase above pre-pandemic levels
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YEA analysis shows that the increase in vaccinated people in a specific geographic location in April correlates to an increase in consumer interest on
“With the lifting of pandemic restrictions across the country in the second quarter, restaurants, food, and nightlife businesses among others, reflected pent-up demand to return to pre-pandemic activities,” said
Increased COVID-19 Vaccinations in April Correlate to an Increase in Consumer Activity in May and June Across States and Counties, with Clear Trends Across Voting Lines and Regions
When examined across voting lines based on the 2020 election, the data shows a majority of states with increased vaccinations and increased levels of consumer interest voted Democrat, with 94% of all Democratic states having a 15% or greater increase in vaccinated people and 19% or higher increase in average monthly consumer interest. By region, the south accounts for the largest share of less vaccinated populations and generally lower increases in average monthly consumer interest levels, while the northeast has the largest share of more vaccinated people and higher average monthly consumer interest.
Of the 300 counties with the highest populations, nine out of 10 counties with the largest increase in vaccinated people in April saw a 21% or higher increase in average monthly consumer interest in May and June. Similarly, seven out of 10 counties, with the lowest percentage changes in vaccinated people, saw a 20% or less increase in average monthly consumer interest.
Q2 Business Reopenings Reach Highest Level in a Year as Americans Ease Back Into In-Person Activities
In Q2 2021, 60,502 businesses reopened, marking the highest volume of reopenings in the last year. In April alone there were 38,725 reopenings, the largest monthly volume of reopenings since
New Businesses Open Above Pre-Pandemic Levels in Professional, Home and Local, and Automotive Services,
In Q2 2021 new business openings on
Home services accounted for 51,445 of new businesses opened in Q2 2021, a 48% increase compared to pre-pandemic levels (Q2 2019) — lawn services (3,165 openings, up 189% from Q2 2019), home cleaning (6,558, up 139%), and drywall installation and repair (1,253, up 119%) saw a surge in new openings.
Local services saw 16,047 new businesses open in Q2 2021, a 30% increase compared to pre-pandemic levels with nannies (86 openings, up 91%), carpet cleaning (1,282, up 62%), and junk removal and hauling services (2,328, up 162%) driving the increase. Professional and automotive-related services also saw significant momentum with 13,907 new businesses open in Q2 2021 (21% increase compared to pre-pandemic levels) and 9,708 new openings (13% increase), respectively.
Restaurants and food businesses accounted for 19,968 new businesses opened in Q2 2021, 12% below Q2 2019, which had the highest new business openings in the last five years. Even as restaurants reopen, food delivery services (670 openings, up 166% from Q2 2019) remain well above pre-pandemic levels. Food trucks (1,767, up 25%), seafood markets (81, up 44%), soul food (176, up 30%), desserts (1,628, up 47%), and food courts (59, up 40%) have all trended above pre-pandemic levels.
Read the full report, as well as previous YEA reports, at yelpeconomicaverage.com. Assets and images from the Q2 2021 YEA report can be found here. For more information and Yelp’s latest company metrics, visit: https://www.yelp-press.com/company/fast-facts/default.aspx
Consumer Interest Correlations with COVID-19 Vaccinations
The vaccination period is the percentage point increase in vaccinations in the specific geographic location measured
Consumer Interest: We measure consumer interest, in terms of
Increasing consumer interest in these geographic locations in May and June – relative to the April change in percentage of vaccinated people – is a good general indicator of consumer behavior reverting to the norm and a state or county being more active economically and socially. Of note, correlation and causation are not equivalent, and we are not claiming that COVID-19 vaccinations are single-handedly driving consumer interest.
New Business Openings
Openings are determined by counting new businesses listed on
On each date, starting with
Openings and reopenings are based on when they're indicated on