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Technomic Reports Top 500 Chain Restaurant Sales Recovered Past Pre-Pandemic Levels in 2021
Technomic has released one of its most highly anticipated reports, the 2022 Top 500 Chain Restaurant Report, which includes expert findings and insights into the sales performance of U.S. chain restaurants in 2021. The report is built using decades of historical data, providing a detailed analysis of the foodservice industry and overarching trends; annual sales and unit counts by chain and segment; and pandemic-related recovery metrics.
“2021 was a year like no other for the Top 500 chain restaurants,” said Kevin Schimpf, director, industry research...
What Gas Prices Mean for Restaurants
Starting last spring, prices across the board began to rise as sharp increases in demand for goods and labor intertwined with supply chain disruptions. No particular industry, product or service has been spared by rising costs which have been passed along to consumers. The rate of consumer inflation continued to rise to a 7.9% annual increase in February, the largest jump since 1982, according to the Bureau of Labor Statistics.
Foodservice menu prices have also been skyrocketing in this environment, driven by higher raw material and labor costs. Despite this, consumers have continued to...
New State of the Menu Report from Technomic Spotlights Trends to Come in 2022
Technomic released a new State of the Menu report, highlighting growing ingredients and flavors on menus; trend predictions that will surface this year; and insights into best-in-class, limited-time offers. Foodservice operators are facing industry challenges that will likely persist for the foreseeable future, and this report provides crucial details on how leading restaurant operators are finding ways to innovate amid ongoing labor and supply constraints. With consumers seeking new takes on familiar items, operators are finding creative ways to make classic dishes more...
New Technomic Foodservice Index Represents Continued Decline in December, due to Omicron
Each month, Technomic releases its TIndex, which showcases the index on the total U.S. foodservice industry. December’s number continued the decline from previous months, dropping to 95.9 from 97.2 in November and 97.8 in October. Based on this data, the industry is down 4.1% over a two-year basis but has grown by 23% compared to December 2020.
“The main reason for this downward slide is the emergence and rapid spread of the COVID-19 omicron variant,” explains Joe Pawlak, managing principal at Technomic...
New Technomic TIndex Release Confirms Foodservice Industry Performance Down Again in November
Drivers of the decline include softness in travel and leisure as well as less traffic for independents
Technomic’s latest TIndex release, representing foodservice industry health, showed another slight decline in November from October. This result means we’ve seen two months of moderate deceleration, and Technomic cites similar drivers for both months: traffic moderation among independent restaurants and continued softness in the travel and leisure segments.
“The TIndex dropped to 97.2 in November, down from 97.8 in October and 98.9 in September,” explains Joe Pawlak, managing principal at Technomic...
Technomic Releases 2022 Foodservice Predictions for the U.S., Canada and Global Markets
Technomic released three whitepapers uncovering 2022 foodservice predictions for the U.S., Canada and global markets. Navigating labor constraints, supply chain challenges and shifting consumer behaviors, operators will focus on adapting strategies and finding new innovative solutions.
Overall, Technomic predicts that industry recovery will continue in 2022, forecasting that the U.S. will surpass its 2019 sales level and Canada will be just 3% shy of pre-pandemic sales levels. From menu restructuring to rethinking the guest experience, operators across regions will reconsider priorities aligned with...
Technomic: 2022 Global Restaurant Trends Forecast
The world has faced nearly two years of disruption and uncertainty, cautious optimism and unexpected challenges. As we enter another year, the pandemic continues to loom large, informing operations, planning, decision-making and forecasting for operators and suppliers alike. And yet, with so much uncertainty still in the air, it finally seems as though the steady recovery many had expected to make 2021 the bounce-back year may actually have a good chance at materializing in 2022. Vaccinations are rolling out; people are continuing to return to offices, schools and global travel...
Foodservice Industry Performance in October Slightly Declined from the Month Before
According to Technomic’s latest TIndex, its index on foodservice industry health, performance in October declined slightly compared to September, dropping to 97.8 from 98.9. The decline could be due to a few key factors, including softness in the travel and leisure segments as well as slight traffic moderation among independent restaurants.
“Based on this data, the industry is down 2.2% over a two-year basis,” explains Joe Pawlak, managing principal at Technomic. “With that being said, however, foodservice has grown by 18.5% compared to the same..."
Restaurant Jobs Still Below Pre-Pandemic Levels as Challenges Remain for Foodservice Industry
After notable job growth for a string of months, restaurant employment has leveled off in recent months, according to the National Restaurant Association.
Currently, eating and drinking places remained over 900,000 jobs below pre-pandemic staffing levels across the country. The Association took a look at the state level and found 44 states lost jobs between August and September, with six seeing a rise.
Although the Association noted that a dip in September is normal due to the seasonal workforce nature, with 78% of operators looking for...
2022: The Year of the Climb
If 2020 and 2021 were the years that emphasized uncertainty, 2022 will be the year the foodservice industry focuses on new, ingenious solutions to head off challenges on multiple fronts. As operators across channels essentially do more with fewer resources, they’ll seek out strategies and partnerships that will help them innovate around menu shortages, labor constraints and the ever-shifting expectations and needs of the consumer.
What are some of the trends on the horizon for 2022, from the state of the industry and operations to menu optimization and enhancing the guest experience...
Technomic’s Latest TIndex Release Reveals Reasons for Softening of Foodservice Industry Growth
Technomic’s August TIndex, Technomic’s index on the total foodservice industry, showed decelerated growth. The number dropped to 98.1 in August from 101.1 in July, meaning the industry declined 1.9% over a two-year basis but has grown by 28% compared to the same month in 2020.
“There are a few clear reasons for this softening,” explains Joe Pawlak, managing principal at Technomic. “First, of course, is due to increased fears of the delta variant. This deceleration is also seen mostly within the travel and leisure segments..."
Foodservice Industry 1.1% Larger in July 2021 than July 2019
Technomic’s TIndex, the index on total foodservice industry reported monthly, was down slightly in July from June. However, this number still represents strong industry results versus 2019. The foodservice industry was 1.1% larger in July 2021 compared to 2019 and 31% larger compared to 2020.
“Softening in some noncommercial segments is the reason for the drop in the TIndex, but restaurant sales remain strong,” explains Joe Pawlak, managing principal at Technomic. “As of the end of July, there has been...
Technomic Study Uncovers Labor Crisis for Foodservice Industry May Not be Temporary
Technomic recently released the Crisis on the Front Lines Multi Client Study uncovering drivers and deterrents to unit-level employment in the commercial restaurant industry among job seekers and current employees. The strategic study also uncovers strategies and tactics for operators as they navigate staffing locations and positioning their brand as employers of choice.
“Foodservice operators are facing new challenges in connecting with job-seekers while also keeping up with...
Technomic Reveals How the Global Chicken Menu Category is Poised for Growth
Technomic released a deep dive into the chicken menu category uncovering global foodservice sales, COVID-19’s impact on the category, consumer consumption insights and preferences, menu trends, and the top global and leading local chains, with the 2021 Chicken Global Menu Category Report. This report is a deliverable of the Global Foodservice Navigator program, which offers the tools and guidance to remain ahead of consumer, menu and operator trends across 25 countries.
“Chicken chains have been resilient amid the pandemic and the menu category remains primed for future growth,” explains Aaron Jourden, senior research manager of global at Technomic. “With accelerating competition among...
Restaurant Sales Grew in June as Industry Recovery Continues
Restaurant sales continued to grow in June as consumers looked for a much-needed night out, according to the National Restaurant Association.
For the month, eating and drinking places netted $70.6 billion in total sales on a seasonally adjusted basis, per preliminary data from the U.S. Census Bureau. That total was a 2.3% rise from May’s volume and is the fifth increase in the first half of the year.
The Association said that sales in June were $4.4 billion (6.6%) above pre-pandemic levels in 2020...
Technomic's Take: Roadblock to Recovery for Restaurants
By all accounts, the restaurant industry is roaring back to life as vaccination distribution spreads, dine-in restrictions are lifted and improved weather throughout most of the country sends consumers flocking to restaurants to dine with friends and family. Operators are reporting same-store sales approaching, and in some cases exceeding, pre-pandemic levels as pent-up demand drives the dine-in surge and off-premise orders remain strong.
For restaurant operators eager to return to full capacity, however, significant headwinds remain as the restaurant industry struggles to fill jobs to meet this booming demand. The biggest challenge facing operators in this current recovery period is finding staff willing to work. There are numerous other factors that are impacting...
Technomic Reveals Steady Performance Improvement for U.S. Foodservice
Technomic released the April TIndex (Technomic Index), an index that provides a benchmark to help analysts and industry leaders track the health of the foodservice industry in the United States.
“For the month of April, the TIndex increased to 94.6 from 94.1 in March, showing strengthening results especially within the restaurant segments,” explains Joe Pawlak, managing principal at Technomic. “This represents the continued performance improvement and recovery of the industry as...
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