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 pandemic put the brakes on in-store traffic for a protracted and painful stretch of time, but it also amplified an already ravenous hunger for social and digital engagement with foodservice. Pre-pandemic, visually appealing items became viral sensations. (Think Starbucks' limited time Unicorn Frappucino, which showed almost unlimited viral appeal.)
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Topics:
Technology,
Mobile,
Delivery,
Social Media,
Sales & Profitability,
Operations,
COVID-19,
Coronavirus,
Fast-Casual Restaurant,
Personalization
The pandemic marked one of the worst periods in the history of the restaurant business, but it brought out the industry’s best too. Sales sank and restaurants were shuttered, but while many operators struggled to make money, others managed to make a difference. Here are just a few of the standouts whose inspiring goodwill and creative thinking made an especially bad time better for many people.
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Topics:
Foodservice Industry,
Social Responsibility,
Operations,
COVID-19,
Coronavirus
If the pandemic has seemed to consist of nothing but a plateful of problems, the table is now being reset with plenty of reasons for optimism.
COVID-19 vaccines are becoming increasingly available, and all adults (ages 18 and up) should be eligible to receive them by May 1.1 The recently passed $1.9 trillion COVID-19 stimulus bill contains $28.6 billion in restaurant relief. Known as the American Rescue Plan, the new law’s Restaurant Revitalization Fund provides the relief debt-free to small and midsize restaurants.2 And consumers will now have more money to spend on foodservice. Individual Americans making under $75,000 a year and households with incomes under $150,000 will receive stimulus checks of $1,400.2
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Topics:
Restaurant Operations,
Independents,
Foodservice Industry,
Sales & Profitability,
Operations,
COVID-19,
Coronavirus
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
