There’s no getting around it: Despite driving sales progressively higher through off-premises channels, the restaurant industry had to eat some heavy losses in 2020. Even big chains took a big hit. According to the market research firm Technomic, the $304 billion generated by the 500 largest chains last year marks a $27 billion drop from 2019.1
But it turns out that bigger has proved to be better during the pandemic. The lion’s share of sales last year went to the 50 largest chains, which had the advantage of having already incorporated robust drive-thru, delivery and digital capabilities.1
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Topics:
Takeout,
Delivery,
Sales & Profitability,
Operations,
COVID-19,
Coronavirus,
Off-Premises,
Fast-Food Restaurants
The challenges of 2020, including business closures and social distancing guidelines, catapulted the demand for takeout and delivery to new heights over the past year—and may have forever changed consumers’ relationship with the foodservice industry. Indeed, more than half (53%) of consumers surveyed by the National Restaurant Association say takeout and delivery have become "essential to the way they live.”1
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Topics:
Technology,
Marketing & Communications,
Independents,
Takeout,
Regional,
Pies/Tarts,
Business & Industry,
Commercial,
Quick Service Restaurant,
Casual Dining Restaurant,
Delivery,
National,
Local,
Social Media,
Family,
Labor,
Convenience,
Foodservice Industry,
Customer Experience,
Consumer,
Distribution,
Menu Strategy,
Packaging,
Sales & Profitability,
Delivery App,
COVID-19,
Coronavirus,
Curbside Pickup,
Fast-Casual Restaurant,
Off-Premises,
Consumer Behavior,
Ghost Kitchens,
Design,
Digital/Online Ordering,
Signage,
Shareables,
Third-Party Delivery (3PD)
If there can be a bright side to the pandemic, it’s the resolve and resiliency of the restaurant industry during an astonishingly challenging time. Amid the massive fallout, operators continue to turn the tables and take sales from fizzle to sizzle.
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Topics:
Takeout,
Delivery,
Sales & Profitability,
Operations,
COVID-19,
Coronavirus,
Fast-Casual Restaurant,
Off-Premises
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.
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Topics:
Trends,
Menu,
Menu Strategy,
Sales & Profitability,
Operations,
Drive-Thru,
COVID-19,
Coronavirus,
Fast-Casual Restaurant,
Off-Premises
The restaurant business in the age of COVID-19 has become a litany of losses—lost jobs, lost customers, lost sales. But one thing that the industry never lost was hope as the shift to off-premises models, digital integration and a renewed emphasis on margin-friendly menu innovation helped salvage business.
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Topics:
Trends,
Takeout,
Delivery,
Foodservice Industry,
Sales & Profitability,
Operations,
COVID-19,
Coronavirus,
Off-Premises
