Resy: Consumer Demand for Restaurant Reservations Has Not Slowed

Resy, a restaurant reservation platform owned by American Express, reportedly sees no evidence of a weakening of consumer sentiment among its customers.

Consumer demand for restaurant dining remains strong, Resy CEO Pablo Rivero told Bloomberg Television Wednesday (Aug. 7).

“People are still going out, trying to find that human connection with people, and the dining table is a perfect space for that,” Rivero said.

American Express, which acquired Resy in 2019, caters to consumers with higher net worth and an interest in hospitality experiences, Bloomberg said Wednesday when reporting on the interview.

Recession fears have been mounting, with the latest economic data on employment adding to those concerns, PYMNTS reported Monday (Aug. 5).

Remarks from executives in a variety of industries have delivered mixed messages on the direction of the economy this week.

Vincent Clerc, CEO of shipping giant Maersk, said Wednesday that his company has seen no signs of a U.S. recession.

Based on the demand for shipping containers, the amount of goods being stored before delivery or processing and the number of purchase orders from importers — which are three good indicators of the strength of the economy — Maersk sees no signs of trouble, Clerc said.

Conversely, Peyton Mason, chief financial officer at craft distillery Laws Whiskey House, told PYMNTS in an interview posted Wednesday that alcoholic beverage brands are seeing current economic pressures dampen enthusiasm for beer, wine and spirits delivery.

“In 2022, folks were still very much prioritizing convenience over cost or anything else,” Mason said. “As we’ve come out of that into ‘23 and into this year, you’re starting to see consumers look at what it costs to transact online versus what it would cost them to go down to their local liquor store.”

Airbnb has also seen signs of consumers changing their behaviors in uncertain times. The online marketplace for accommodations and experiences reported Tuesday (Aug. 6) that, beginning in July, it has seen customers around the world booking their accommodations closer to their expected time of arrival.

“I think what we’ve seen in the past is, from time to time, whether it be a new COVID variant, whether it be a macro headline, whether it be, like last year, the outbreak of war in Israel, people from time to time have moments where they are not booking in the same time frame that they did in prior periods,” Airbnb CEO Brian Chesky said Tuesday during the company’s quarterly earnings call. “That’s what we’re tracking right now.”

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