Industry Insights A roundup of noteworthy foodservice findings for the week of March 22, 2021

Page created by Bruce Gibbs
 
CONTINUE READING
Industry Insights A roundup of noteworthy foodservice findings for the week of March 22, 2021
Industry
Insights
A roundup of noteworthy foodservice findings
for the week of March 22, 2021
I G N I TE C O M PAN Y

Red Robin Unveils
                                                                                                    RED ROBIN U.S. SAME-STORE SALES
                                                                                                       YEAR-OVER-YEAR CHANGE %

Three Virtual Brands
Red Robin announced three new virtual       Red Robin joins several other top
brands to bolster its off-premise sales.    chains that integrated virtual brands into
The Wing Dept., Fresh Set and Chicken       their repertoire in the past year. Chili’s,
Sammy’s, all delivery-only, will offer an   Applebee’s, Chuck E. Cheese and Dog
array of options straight from Red          Haus are among those that adopted
Robin’s menu, as well as items not          virtual brands in 2020 in the wake of         -20.8%
previously featured in stores.              COVID-19 restrictions.
                                                                                                                -25.1%
Same-store sales were down 28.5% for
Red Robin in 2020, consistent with its                                                                                     -29.0%      -28.5%
fourth quarter decline of 29.0%. In
2019, the casual-dining chain saw a
same-store sales decline of 0.6%.

                                                                                                    -41.4%
                                                                                          Q1 2020   Q2 2020    Q3 2020    Q4 2020     2020 Total

Sources: Technomic Ignite company data

© 2021 Technomic, Inc.                                                                                                                             2
I G N I TE M E N U                                                                                       KEY FINDINGS

Key Findings From                                                                                        Chicken is the fastest-growing
                                                                                                         protein on limited-service restaurant

Our New Menu
                                                                                                         breakfast menus, up 30.8% year
                                                                                                         over year

                                                                                                         Brazilian flavors are the fastest-

Report
                                                                                                         growing global flavors on lunch and
                                                                                                         dinner full-service restaurant
                                                                                                         menus, at 5.6% year-over-year
                                                                                                         growth
Technomic released a new State of the                         many of the trends and directions of the
Menu report, highlighting growing                             data may continue for the foreseeable      Overall, 37% of best-in-class LTOs
ingredients, dishes, drinks and flavors                       future. Our many learnings from the        had brand mentions, proving that
on menus; trend predictions that will                         data and analysis—which are reflected      consumers find this appealing
surface this year; and insights into best-                    in the key themes and recommended
in-class, limited-time offers.                                actions—are essential for our clients to   LSR breakfast and lunch/dinner
Foodservice occasions are drastically                         be able to plan for the year ahead.        menus and FSR breakfast and
evolving, and this report provides                                                                       lunch/dinner menus all saw item
                                                              Please check out the report, available
crucial details on how leading                                                                           count declines year over year
                                                              now on Ignite, or contact Technomic at
restaurant operators are pivoting their
                                                              info@technomic.com for purchase
menu innovation plans in
                                                              details.
unprecedented ways.
Taking a look back is crucial to
understanding how the industry has
changed and where we’re headed.
We’re still not out of this pandemic, so

Source: Technomic Ignite menu data featuring the State of the Menu report
Image Source: Shutterstock

© 2021 Technomic, Inc.                                                                                                                           3
I G N I TE C O N S U M E R
                                                                                                          WHICH OF THE FOLLOWING DESCRIPTORS FOR VEGAN AND VEGETARIAN
                                                                                                            OPTIONS/SUBSTITUTES IN A DISH WOULD YOU BE MOST LIKELY TO

Preferred Protein
                                                                                                                          ORDER AT LEAST OCCASIONALLY?

                                                                                                                                                     45%

Substitutes
                                                                                                                Vegetable-based                37%
                                                                                                                                                      48%

                                                                                                                                                  40%
                                                                                                                    Plant-based                         50%
Protein substitutes continue to trend on                    RECOMMENDED ACTION
menus and expand into new categories.                                                                                                          35%
                                                            Identify protein preferences by
Protein substitutes vary widely in their
                                                            demographic to help create menu and                                             31%
ingredients, but vegetable-based                                                                                                                              Overall
                                                            marketing strategies that resonate well
descriptors lead in appeal, especially                                                                                 Meatless          23%                  18-34
                                                            with the core customer base. Offering
with older consumers.
                                                            multiple types of protein substitutes                                              35%            35+
Age differences play a role in these                        from vegetable-forward dishes to plant-
preferences, with younger consumers                         based meat alternatives can help                                          20%
driving appeal for plant-based claims.                      maximize appeal across ages.
Addressing differences in preference                                                                                  Meat-free          23%
will be critical for operators to                                                                                                     19%
implement new proteins successfully.
                                                                                                                                    16%
                                                                                                                  Imitation meat      20%
                                                                                                                                   13%

Base: 1,032 consumers who ever eat vegetarian or vegan dishes
Source: Technomic Ignite consumer data and the Technomic 2021 Center of the Plate: Seafood & Vegetarian
Consumer Trend Report

© 2021 Technomic, Inc.                                                                                                                                                  4
G L O B AL F O O D S E RV I C E N AV I G ATO R

Retro Collabs Grow
Creative collaborations have been a                      In the United States, Pizza Hut
global trend for several years. Now, as                  introduced a new Pac-Man pizza box
many consumers seek reconnection to                      that guests can interact with using their
pre-pandemic normalcy, restaurants are                   smartphones.
rolling out vintage items that shine new
                                                         And in France, casual-dining chain
light on some nostalgic brands.
                                                         Sushi Shop rolled out the Sushi Shop x
In Canada, sibling pizza purveyors                       Polaroid box, celebrating vivid colors on
Pizza Pizza and Pizza 73 debuted the                     and within the limited-edition
UNO Combo in partnership with Mattel.                    packaging.
It bundles pizza and drinks with a co-
                                                         Throughlines
branded deck of UNO cards in a special
package.                                                 • The brands are often tied to the
                                                           concept of simpler times
In China, PizzaMarzano held a Pac-
Man Christmas event that included                        • Retro collabs are often very colorful
themed pizzas and kids meals, a Pizza                    • Opportunity exists for an interactive
Fly video game and Pac-Man-themed                          component that drives engagement
restaurant decor.
                                                         • Packaging is key
                                                                                                     Sushi Shop touts its new Polaroid box as a vintage creation that pops with color
                                                                                                                                                   Source: Sushi Shop France website
Source: Technomic Global Foodservice Navigator Program

© 2021 Technomic, Inc.                                                                                                                                                             5
COVID-19 DISRUPTION INDEX
                                                                                                                           COVID-19
                                                                                                                                         PERCENT      PERCENT
COVID-19 Disruption Index is                Change Versus Previous Week and          TOP 5 MOST DISRUPTED MARKETS      DISRUPTION
                                                                                                                                          CHANGE       CHANGE
powered by Shortest Track, utilizing AI,    Month                                        BY INDEX POINT CHANGE                INDEX
                                                                                                                                          VERSUS       VERSUS
                                                                                        (VERSUS PREVIOUS WEEK)      (MAX: 1.00, HIGH
machine learning and disparate sets of      Change versus previous week/month                                          DISRUPTION)
                                                                                                                                       LAST WEEK   LAST MONTH
data resources to quantify the potential    allows users to see if the market is
risks that U.S. businesses face from the    becoming more or less disrupted over
spread of the COVID-19 virus at the         time. Changes that are positive (+)
market level.                               show a move toward becoming              1   Springfield, Mo.                    0.518        5.00%       16.38%
                                            increasingly more impacted by COVID-
The highest index possible is 1.00,         19 (not good). Changes that are          2   Decatur, Ala.                       0.523        4.91%       17.20%
which is not good and reflects markets      negative (-) show a trend toward being
that are extremely disrupted. The index     less impacted by COVID-19 (good).
is updated on a weekly basis.                                                        3   Columbia, Mo.                       0.575        4.25%       15.37%
                                            Ignite Subscribers: Download full
The COVID-19 Disruption Risk Index          market report                            4   Montgomery, Ala.                    0.680        3.57%       15.50%
shares weekly updates through a
business lens, rather than a health lens,
and incorporates more than 20 different                                              5   Birmingham-Hoover, Ala.             0.677        3.57%       15.55%
data signals to measure disruption and
predict future impact. These signals
include infection rates, deaths, state-
level restrictions and social distancing
requirements, population densities and
mobility, group size limitations and
lifestyle risk factors contributing to
spread. More information is available
HERE.

Notes: Data updated March 15, 2021
Source: Shortest Track

© 2021 Technomic, Inc.                                                                                                                                          6
WAN T M O R E I N S I G H T S ?

                                                                                                          Since 1966, we have
    You can get this                Ignite Company                    Ignite Menu
                                                                                                           produced in-depth
                                    See where restaurant chains       Pinpoint the latest menu trends
   report delivered to              are, how many units they have     and see what’s on the horizon.    research focused on the
     you bi-weekly!                 and how well they’re doing.
                                    Explore>>
                                                                      Explore>>
                                                                                                          foodservice industry.
           Sign up here>>
                                                                                                         We provide insights into consumer,
                                                                                                            industry and menu trends in
                                                                                                         the U.S., Canada and 23 countries
                                                                                                                  around the world.

                                                                                                         Our team of experts helps leaders
 Ignite Consumer                    Global Foodservice                                                     in the industry make complex
 Get to know your customers’        Navigator                                                             business decisions, set strategy
 customers through 60+ attributes   Understand the global industry,                                         and stay ahead of the curve.
 and visit occasion metrics.        from menu trends to consumers,
 Explore>>                          in 25 countries. Explore>>
                                                                                                        Have questions about this report?
                                                                                                              Reach out to us today.

                                                                                                                   312-876-0004
                                                                                                               info@technomic.com
                                                                                                                  technomic.com

© 2021 Technomic, Inc.
You can also read