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Post-Pandemic Dining: A Mixed Recovery One thing is clear: Diners haven’t returned to pre-pandemic dining levels. However, 30 percent of high-income consumers are dining at TSRs more frequently than before, signaling room for premium offerings at the right price. With 53 percent of U.S. Digital transactions now make up 18.6
“Through expansive experiences that inspire our guests paired with the ambiance of the space and the food on the plate, we’re setting new standards for the industry and creating truly spectacular moments for all who enter our restaurants and bars.”
Restaurant industry insiders offer their insights on F&B trends we can expect to see in 2024. Some customers have the gift of foresight, using DoubleDash to add on recovery (or hair of the dog) essentials from nearby stores. Quirky Combos : This year, we also saw some unique combinations!
Out of the Box: Monthly Restaurant Industry Update Restaurant Industry in Review: Trends from October 2024 OCTOBER: BY THE NUMBERS 0.5% And recovery for the industry is continued into October. And recovery for the industry is continued into October. Here are the most significant October 2024 Restaurant Trends.
Overall, “large parties,” or a party with eight or more guests, had a +2 percent increase in same-store transactions in Q4 2023 compared to Q4 2022. Cheers to 2023: Overall, restaurant and bar guests drank approximately +11 percent more alcohol in Q4 2023 compared to the average for Q1 through Q3 2023.
This finding from Expert Market’s 2024 F&B Industry Report sheds light on a clear culinary gap within the industry's workforce. This insight seems unsurprising, considering that data from April 2024 revealed 43 percent of small business owners in the US were unable to pay their full rent on time.
In the State of the Restaurant Industry Q4 2024 , the latest data from Black Box Intelligence reveals critical insights. Let’s jump into the trends and forecasts shaping the restaurant sector as we close out 2024. Thus, our previous predictions of a recovery have seemingly come sooner than we previously anticipated.
Out of the Box: Monthly Restaurant Industry Update Restaurant Industry in Review: Trends from September 2024 SEPTEMBER: BY THE NUMBERS 0.4% However, with Hurricane Helene and Milton, recovery remains fragile. Here are all the September 2024 Restaurant Trends you need to know. Comp Sales -2.7% reported back in July.
Out of the Box: Monthly Restaurant Industry Update August 2024: Is This a Turning Point? After several challenging months, signs of recovery are beginning to appear. Our expectation has always been for a stronger Q4 relative to Q3, and the latest data shows that the recovery may start earlier than expected. Comp Sales -3.6%
*Originally Published in the Aaron Allen & Associates Newsletter on 06/03/2024 The 50 fastest-growing emerging restaurant chains expanded their sales by a median of 35% year-over-year (in 2022). This growth rate has remained consistent through the years for fast-growing concepts with sales between $20m-$60m. Interested in a menu overhaul?
The fourth quarter was not good for restaurant sales; each month posted worse same-store sales growth than the previous month, according to Black Box Guest Intelligence. In addition, colder winter weather eliminated some potential for outdoor restaurant dining, favored by many guests who believe patio seating is a safer option.
However, we’re seeing some major shifts around menu creation, procurement, and dining habits of guests. To combat inflation in 2022, 39% of restaurants started tracking the price of key ingredients; 22% adjusted the number of vendors; 36% increased menu prices. The F&B industry grew in 2022… and it will keep growing in 2023.
Data Gaps Hinder Pricing Strategies : 73 percent of operators lack full confidence in their pricing strategy, with most relying on gut instinct or competitor pricing instead of real-time cost analysis. percentage points less than sales growth from the same two-month period in 2024. Month-over-month sales (+0.1
As always, 2024 was far from a boring year for operators who are still trying to play catch up from the COVID pandemic four years ago. Lets quickly walk through the top restaurant stories of 2024. Big Restaurants Go Bankrupt The restaurant industry is always tough but 2024 was not kind for some big and local restaurant chains.
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