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
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)
More mouths to feed, different foodservice needs. While millennials may seem renowned primarily as a coveted youth demographic, the fact is they’re maturing—and their foodservice needs are evolving as they search for convenient at-home meal solutions during the coronavirus outbreak.
Small is a big deal when it comes to foodservice operations these days. Just as consumers are gravitating toward locally grown, farm-to-table food options, many are choosing to patronize locally owned eateries that offer authentic cuisine and Instagram-worthy experiences. As Darren Tristano, chief insights officer at the foodservice research firm Technomic explained: “This really seems to be the dawning of the era of the independent. The independents and small chains are now outperforming. The big chains are now lagging.”1
As free online marketing platforms such as Yelp Inc. help raise the profiles of independents, major chains are yielding ground to these millennial-savvy upstarts. The foodservice industry research firm Pentallect Inc. projects a 5% growth rate for independents through 2020, compared to 3% for chains.1 And while sales at the top 500 U.S. chains rose 3.6% last year, the industry as a whole saw larger gains of 3.9%, according to Technomic data.1
Peanut butter is one of those perennial favorites that brings back fond childhood memories yet stays forever fresh and contemporary, lending itself to an endless array of flavorful pairings. With so many applications, from cookies to confections, donuts to delicacies, chicken to burgers and beyond, it’s no wonder consumers keep going nuts for peanut butter and find new ways to enjoy it.