Technomic Study Reveals Shifts in Foodservice Operator’s Path to Purchase

Technomic's newly released The Buyer’s Journey in the New Digital World Multi Client Study uncovers foodservice operators’ paths to purchase as well as the roles traditional, social and digital media play both directly and indirectly into the buying journey.

“To better understand how buying patterns in the market are transforming, we launched a brand-new study surveying 500 operators, as well as conducting in-depth interviews with operators via bulletin boards and at the National Restaurant Association Show, to explore purchase drivers, the role of digital ordering platforms, traditional sales..."

Impact of a Recession on Foodservice

Introduction

Senior executives from leading financial institutions have been predicting that an extended economic downturn is becoming more likely by the day. But despite declining GDP and still-surging inflation, many executives have been hesitant to use the term recession when describing the prospects for the second half of 2022. This hesitancy is largely due to the fact that—despite all of the warning signs—there are also indicators such as consumer spending and low unemployment that defy historical conditions for a recession. So, where does that leave foodservice? How do we interpret the...

Technomic Launches Location Targeting, tracking 1M+ Foodservice Locations

Today, Technomic released Location Targeting, the newest feature of Ignite Company. Location Targeting captures more than 1 million foodservice locations and allows operators and suppliers to gain a deeper understanding of small chains and independents at the address level. This feature allows clients to explore view foodservice location characteristics, amenities and annual sales volume, all overlayed with Technomic's standardized operator classification system.

Technomic experts collect location-level insights through a variety of sources, including operator websites, business directories and consumer review sites. Locations are then mapped through Ignite search criteria and...

2022 Canadian Foodservice Trends: Midyear Update

Forecasting the Future

Canada’s pre-pandemic $95 billion foodservice industry was battered by sales losses of nearly 29% as we entered 2021. While COVID-19-related restrictions—influenced by new caseloads and the looming impact of virus variants—may directly affect consumer visitation and behaviour in 2022, current Technomic research shows that the new year will also bring an upswing in the Canadian industry’s sales and overall performance. According to our latest data, Canada’s foodservice sector is expected to reach $74.8 billion, reflecting roughly a 21% increase over 2021 and just 3%...

Technomic Reveals Global Opportunities for Breakfast

Technomic just released the Breakfast Global Menu Category Report, providing robust coverage, including consumer food and beverage preferences; segment patronage; key global, regional and local restaurant brands; and menu trends and insights on new product development strategies.

“The breakfast category remained largely resilient throughout the global pandemic, and now presents an opportunistic daypart for many restaurant operators and supplier partners,” explains Aaron Jourden, director of global research and insights at Technomic. “Consumers are back to using restaurants and foodservice outlets as normality returns to everyday life, but their attitudes, preferences and even venue..."

Technomic Takes a Mid-Year Look at its 2022 Foodservice Trends

As 2021 came to a close, research and insights firm Technomic dubbed 2022, the “Year of the Climb” for the foodservice industry. Six months later, the company released its latest whitepaper which provided a look at its predictions at the halfway point of 2022.

According to Technomic's Lizzy Freier, Director, Menu Research & Insights and Aimee Harvey, Senior Managing Editor the foodservice industry did witness a climb and improve compared to the pandemic-impacted years seen in 2020 and 2021.

However, the pair had much more to say...

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...