Technomic: How Historically High Inflation Impacted Top 200 Canadian Chain Restaurant Performance

Technomic released one of its most highly anticipated reports, the 2023 Top 200 Canadian Chain Restaurant Report, which includes expert findings and insights into the sales performance of Canadian chain restaurants in 2022. The report—built using decades of historical data—provides a detailed analysis of the foodservice industry and overarching trends, annual sales and unit counts by chain and segment.

“Total sales for Canada’s Top 200 chain restaurants hit $40 billion in 2022, improving by 15% compared to the prior year...

Pace of Foodservice Job Growth Slows, Industry Workforce Still Behind Pre-Pandemic Levels

Preliminary data from the Bureau of Labor Statistics (BLS) April showed employment gains in foodservice and drinking places of 25,000, which carried gains seen across the leisure and hospitality sector. Through the first quarter of 2023, the sector has added almost 180,000 jobs.

However, the National Restaurant Association’s chief economist Bruce Grindy said those gains were at a slower pace compared to what has occurred in previous months.

April’s increase followed moderate gains in February (45,400) and March (28,200) – both of which were revised lower from their...

New OpenTable Data Shows Late Night Dinner on the Rise

Today, OpenTable, a global leader in restaurant technology, relaunched its State of the Industry dashboard. The site features new dining data from OpenTable's global network of 55,000 restaurants and millions of diners to shed light on dining demand and trends.

Latest intel from OpenTable's State of the Industry 2.0:

• Late-night dining gets a boost: In March 2023, dining at 8pm and 9pm saw gains nearly every day MoM, with the largest increases on Mondays (8pm up 9%, 9pm up 18%), Wednesdays (8pm up 15%, 9pm up 23%) and Thursdays...

Technomic Reports High Inflation Impacted Top 500 Chain Restaurant Performance in 2022

Technomic released one of its most highly anticipated reports, the 2023 Top 500 Chain Restaurant Report, which includes expert findings and insights into the sales performance of U.S. chain restaurants in 2022. The report—built using decades of historical data—provides a detailed analysis of the foodservice industry and overarching trends, annual sales and unit counts by chain and segment, and Top 500 sales forecasts for 2023.

"Unprecedented levels of foodservice inflation had a major effect on the industry's largest chain restaurants... 

Morning Meal Restaurant Traffic Fully Recovers from Pandemic Losses

Circana, formerly IRI and The NPD Group, found that the restaurant industry continued to recover from losses linked to the COVID-19 pandemic in February, with traffic up 2% compared to a year ago.

Quickservice restaurants (qsr), which represent well over 80% of restaurant industry visits, jumped 3% in February when compared to 2022.

A look at full service restaurant traffic shows a 2% decline thanks to a notable 13% dip in dinner traffic, although full service eateries saw increased visits during morning meal and lunch.

Speaking of morning meals...

The Future of Dining: Tracking the Trailblazers in the Restaurant Industry

Brizo Data is excited to share the 2023 Restaurant Technology Landscape, providing an unparalleled visualization of the key restaurant technology companies that are driving innovation in the foodservice industry. Brizo FoodMetrics, the company's flagship market analytics platform, leverages billions of data points in the North American foodservice and restaurant business to unlock an in-depth view of the technologies-in-use and empowers businesses to make informed decisions.

"Brizo's data-rich insights show that the adoption of technology isn't only about driving revenue or creating niche, 'futuristic' experiences...

Diving Into Restaurant Promotions Ahead of the Big Game

Urner Barry’s Courtney Shum dove into the retail and wholesale side of the protein landscape ahead of the Super Bowl and today, it is time to focus on restaurants and bars.

There will be specials galore for those heading out to enjoy the game with friends, but restaurants are also leaning into delivery and pick-up deals for those hosting parties for the big game at home.

Of course, chicken wings take center stage for this event and the National Chicken Council expects 1.45 billion...

The NPD Group: Restaurant Industry Witnesses Stability Following Myriad of Headwinds

A pandemic, labor shortages and record inflation are just a few of the challenges that the foodservice industry has faced since early 2020.

The industry persevered and The NPD Group believes calmer seas may be ahead. Findings from The NPD Group show that U.S. commercial foodservice customer traffic to restaurants and other foodservice outlets ended 2022 flat compared to a year ago. Consumer spending at foodservice outlets was up 4%, thanks to higher prices.

“Looking forward to 2023, we anticipate improvements in supply chain disruptions, inflation deceleration...

Uber Eats and Visa Partner for Greener Restaurant Packaging

Uber (NYSE:UBER) and Visa (NYSE:V) today announced a new program designed to support small-and medium-sized businesses in their transition to green and sustainable packaging solutions, as part of a broader year-long effort to support SMBs who use Uber Eats to grow their businesses.

Together, the two companies will make $1 million accessible to qualifying Uber Eats restaurants in New York, Los Angeles, London, Paris and Madrid to be used towards funding sustainable packaging solutions to help transition to a greener future, which hospitality industry research indicates...

U.S. Restaurants per Capita at Lowest Point in 25 Years, MUFG says

The number of U.S. restaurants – including chain franchises and independent stores – has not yet rebounded to pre-pandemic levels, and is still meaningfully lower than what it was before the advent of COVID-19, according to Nick Cole, Head of Restaurant and Hospitality Finance at Mitsubishi UFJ Financial Group (NYSE: MUFG).

As 2022 comes to an end, Cole shares several viewpoints on the restaurant industry.

Restaurant supply remains low

"The number of restaurants per capita is at its...

Mastercard SpendingPulse: U.S. Retail Sales Grew 7.6%* This Holiday Season

According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive increased 7.6% year-over-year this holiday season, running from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.

“This holiday retail season looked different than years past,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings...

Restaurant Association Unveils Guide for Operators to Prep for Future Natural Disasters

The National Restaurant Association knows that restaurants are pillars of their respective communities.

Often, the Association has found that operators and employees are often the last ones out of the path of dangerous weather and the first one back in when the disaster has left the area. Because of this, the Association developed an industry-specific guide disaster prep guide, Always Ready: Natural Disasters.

“The time to plan for a disaster is before one unfolds. For restaurants, this is especially important because they meet...

Restaurant Visits Drop Amid Inflation, Higher Menu Prices

U.S. consumers decided to limit their trips to restaurants during the second quarter of 2022, reported The NPD Group.

Inflation and the rise in menu prices led to a 2% dip in physical and online restaurant traffic when compared to a year ago and down 6% below the pre-pandemic levels seen in 2019.

“Consumers continue to deal with rising inflation and higher prices. We see three ways consumers respond to higher menu prices. They trade down to lower-priced items, cut back on the number of items ordered, or reduce restaurant...

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...

UB Consulting: Has the Foodservice Industry Recovered?

It has been no surprise that the foodservice industry suffered during the pandemic. From the lockdowns to patron fear of catching COVID, we witnessed some of our favorite restaurants disappear. Still, the industry continues to fight battles along all fronts—inflationary pressures, rising employment costs, and supply chain disruptions, to name a few. It has been over two years since the emergence of the pandemic, which offers us the opportunity to dissect how the foodservice sector has coped up until now...

Food Inflation Greater at Home than at Restaurants, MUFG says

Consumers who purchase food for in-home consumption have generally experienced higher price increases relative to what they pay for menu items at quick-service and fast-casual restaurants—a trend that makes restaurants more comparatively appealing, according to Nick Cole, Head of Restaurant Finance at Mitsubishi UFJ Financial Group (MUFG).

DoorDash Unveils Top 100 Most Loved Restaurants

DoorDash shared its first annual awards list honoring the top 100 Most Loved All Star Restaurants in the United States for 2022.

The restaurants included in the list are top-rated by users of the DoorDash platform and are exceptional at operations, with the company saying less than 1% of restaurants qualifying.

DoorDash said winners included poke shops to Italian eateries. It wants to set its partners up for success and growth and the list is meant to recognize and reward the best relationships on its platform...