Operators have increasingly turned to limited time offers in recent years to entice customers and spur sales. In fact, Technomic research indicates that LTO launches among the biggest 500 chain restaurant and retail operations grew 64% from 2014 to 2019.1
Topics: Merchandising, Promotions, Independents, Family Restaurant, Takeout, Quick Service Restaurant, Casual Dining Restaurant, Delivery, National, Custards/Cheesecakes, Cookies/Bars/Snacks, Ice Cream Desserts, Main Dishes, Dessert, Chocolate, CHIPS AHOY!, OREO, Cookies, Dessert Ingredients, Grab-and-Go, Convenience, Foodservice Industry, Menu, Creative Inspiration, Customer Experience, Consumer, Flavors & Ingredients, Menu Strategy, Food & Beverage, Packaging, Sales & Profitability, Drive-Thru, COVID-19, Coronavirus, Curbside Pickup, Fast-Casual Restaurant, Branded Ingredients, Flavor Profiles, Consumer Behavior, Indulgence, Limited Time Offers (LTOs), Dips/Spreads/Sauces, Sandwiches/Burgers, Prepackaged, Nostalgia
In-store bakery sales are on the rise—so much so, sales exceeded $13.54 billion in 2015 and the market is expected to reach $18.4 billion in sales by 2020, a 45% jump over the course of a decade.1 Confidence among retailers is high, with 56% of those surveyed reporting that they consider in-store bakeries a leading driver of traffic and an important point of differentiation for their stores and the way they market to consumers.2
Let’s face it: We can chat all we like about hot snack trends and market growth, but without the right merchandising, foodservice operations can be left out in the cold. While we can chew the fat about wellness snack trends, unless we bulk up our merchandising, we could be putting the bottom line at risk of thinning out. And before they can feed the seemingly endless millennial snack appetite, even the best-stocked foodservice operators must find ways to effectively merchandise the products millennials hanker for.
The better-for-you snack segment is a booster shot for business, surpassing the sales growth of the entire food and beverage market, according to a report from Packaged Facts, a market intelligence firm.1 A convergence of factors, including portability, higher nutritional value and clean labeling, has spurred sales over the past decade for wellness-oriented snacks, resulting in a compound growth rate (CAGR) of 4.7%,and surpassing overall food and beverage growth.1
As a powerful driver of menu innovation and a focus of foodservice customer service, millennial mania has reached epic proportions. Having surpassed baby boomers as the largest generation,1 millennials have become the Holy Grail for foodservice and restaurant operations eager for a higher check average. The millennial snack attack is more like a fever for flavor and convenience that has spread across the industry.