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U.S. Restaurant Industry Ends 2020 Making Its Way Out of the Steep Declines Caused by Pandemic
The U.S. restaurant industry closed one of the most unpopular years in history moving its way out of the steepest declines the industry has experienced since the Great Recession, reports The NPD Group. Customer transaction declines at major restaurant chains in December were down -10% compared to same period year ago, a 27-point improvement from April, the height of the shelter-at-home and restaurant dine-in closure mandates, when transactions declined by -37% from a year ago, according to NPD’s CREST® Performance Alerts, which provides a rapid weekly view of chain-specific transactions and share trends for 75 quick service, fast casual, midscale, and casual dining chains representing...
PODCAST: Lifting Others as We Grow - Mark Winkler, US Foods
This week Mark Winkler of US Foods discusses their innovations and initiatives through the COVID-19 pandemic. Between setting up ghost kitchens, helping small businesses adapt to a lack of indoor dining, and...
Technomic's Take: What to Expect in Canada in 2021
As we head into 2021, the world of foodservice remains in unprecedented territory as we collectively deal with the immediate and long-lasting impacts of the COVID-19 pandemic. While many unknowns linger as the world anxiously awaits an end to the virus, we do know that those who demonstrate the most versatility in response to industry, consumer and cultural shifts are best set to succeed in the coming year. Read ahead for Technomic’s expert predictions to better equip yourself for what’s to come and how to prepare for a post-pandemic world.
1. The Road to Recovery Steadies
Foodservice will experience the start of a financial recovery in 2021, but sales results across segments will be a mixed bag. Limited-service restaurants will turn...
Consumers Likely to Continue Increased Usage of Takeout and Delivery
With indoor dining restaurant traffic significantly curtailed due to COVID-19 restrictions and concerns, the availability of takeout and delivery options became more important for consumers and restaurants. Many foodservice operators began offering these options recently, and consumers have increased their usage of takeout and delivery.
According to the National Restaurant Association, the uptick in takeout and delivery frequency was visible across each of the three major dayparts in recent months. The Association reported that 66% of consumers said they ordered takeout or delivery for dinner last week. That is up from 58% during the last week of February.
The trend was similar for lunch. About 47% of consumers ordered takeout or delivery for lunch last week, a level that has...
ANALYSIS: Egg Product Market Comes to LifeThough retail demand for shell eggs has run significantly above norms since the peak pandemic period, foodservice demand has struggled to...
Technomic's Take: What’s to Come in 2021
It’s not easy to forecast the future when the ground keeps shifting underneath. The foodservice industry has had to be more nimble than ever this past year, and everyone is eager to bounce back and embrace a clear sense of normalcy. Yet several big questions loom large: Is a COVID-19 vaccine on the horizon soon? Which areas of the country will recover quickest? And when will consumers feel comfortable about dining indoors again?
Despite the many ambiguities that exist, Technomic's outlook for the industry remains optimistic. Up-to-the-minute strategies are positioning foodservice segments to kick off a wider resurgence through 2021. Optimizing the menu, directly...
More Than 60% of Americans Have Dined In a Restaurant in the Past Month, Despite COVID-19 Concerns
A survey of 501 people in the U.S. found that 63% of Americans ate at a restaurant at least once in July, with 22% dining in a restaurant five or more times. At the same time, 58% of Americans said they would feel uncomfortable or very uncomfortable eating in a restaurant because of the coronavirus. The study was conducted by B2B research firm The Manifest.
The contradiction between people's discomfort about in-restaurant dining and their actions is likely a result of access to outside dining options during the summer months.
With as many as 75% of restaurants at risk of going out of business, local restaurants and small business restaurant owners must prepare for...
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