State of the Restaurant Industry: Summer Rewind

Year-over-year same store sales show continued growth over a three-year period for the summer months of May-August.

However, QSR and Fast Casual segments experienced only modest sales increases of 2% and 3.5% respectively in 2022.

Average check size improved year-over-year across all segments, indicating rising menu prices as reported by the National Restaurant Association.

Brands are incurring higher input costs around food and labor along with decreasing transactions leaving menu prices absorbing some of the impact.

With demand for talent still high, brands need to bolster employee retention, candidate attraction, and crew satisfaction. Employee discounts check the box in all of these categories. Best of all, these programs can be easily implemented with your existing loyalty platform, helping you roll out a top-notch and customizable program for your crew and giving you control over your costs.

Full Service restaurants are the bright spot in 2022 in an otherwise bleak peek at transactions. Up 14%, the Full Service segment, which typically has higher income guests continues to drive growth.

This increase also suggests more consumers who seek value are shifting from Fine Dining to Full-Service for their event related celebrations.