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
As COVID-19 set in with swift and sweeping repercussions across the restaurant industry, operators found themselves scrambling for solutions to salvage sales. Rapid reaction and the need for speed replaced research and development.
Snacking has become increasingly popular in recent years—and shows no signs of slowing down.
In 2018, 80% of consumers snacked at least once a day.1 Two years later, 88% of adults surveyed for Mondelēz International’s 2020 State of Snacking™ report said they were noshing between meals just as much as—or more than—they did in 2019.2
Topics: Millennials, Trends, Promotions, Marketing & Communications, Side Dishes, Quick Service Restaurant, Appetizers/Snacks, Snack, Gen Z, Gen X, Baby Boomers, Gum & Candy, Single-Serve, OREO, Dessert Ingredients, Foodservice Industry, Menu, Consumer, Demographic, Flavors & Ingredients, Menu Strategy, Retail, Operations, COVID-19, Coronavirus, Fast-Casual Restaurant, Branded Ingredients, Mashups, Flavor Profiles, Personalization, Consumer Behavior, Value, Indulgence, Customization, Limited Time Offers (LTOs)
The pandemic hasn’t just shifted the focus to takeout and delivery; it’s driven foodservice down a road of constant twists and turns, with no path back to business as usual. A vaccine is on the horizon, but COVID-19 has forced approximately 17% of U.S. restaurants to close,1 and concerns over its spread continue to have a negative impact on the bottom line. While the holiday season is normally a time when operators can expect a business boost, in 2020 eat, drink and be merry became eat, drink ... and be very careful.
The pandemic has put a spotlight on off-premises business as major chains and independent operators strive to whip up recipes for success under challenging circumstances. Capacity restrictions, shutdowns and consumer safety concerns may have stalled in-store traffic, but the off-premises revenue engine continues to steer foodservice in the direction of delivery and takeout.