Restaurant Report - New Insights for 2023
The consumer landscape is in flux as operators scramble for growth strategies
The pandemic has transformed the restaurant and hospitality landscape, and fast casual remains the sector best poised to survive and thrive in an environment largely fixated on takeout and delivery. This white paper explores how technology integration—namely, leveraging technology to create a seamless, scalable on-demand food experience at your restaurant—will be critical for the long-term success of fast-casual businesses.
Shake Shack has 11 drive-thru restaurants out of the 436 units. The buildout for a restaurant with a drive-thru cost anywhere from $2.4 million to $3 million, which is more than a restaurant without a drive-thru.
Drive Thru Sentiment For Shake Shack has had some recent success with 18-35 consumers and shows frequency increasing on an annual basis of 18.7%. However, tracking against the overall consumer sentiment, it has been underperforming over the past six months. See The Charts
Potbelly recently upgraded their technology, and Wright says about technology, “it's one of the five pillars of our five-pillar strategy is to make sure that we are a technology connected the brand to our customers, for them and also for our employees. So we've really taken a three-pronged approach to technology, starting with refreshing the app and the website. READ MORE
So much has changed for the fast-casual segment, and one of the areas that present the most curiosity is the evolution of drive-thru - Clay and I break down what is working and why this is a big strategy for fast growth for Velvet Taco.
Since Clay assumed leadership in March 2017, Velvet Taco has grown from 4 to 36 company-owned restaurants with 21 more in development and continues to see consecutive quarters of positive restaurant comparative sales. READ MORE
NRF 2023: Retail’s Big Show took place in New York, showcasing retailers who specialize in convenience stores, grocery, and specialty stores. Trends highlighted included data, cameras, robotics, and holograms, and what do you know - these technologies were similarly displayed just a week prior at CES. “The speed of technology finding its way from the consumer industry to the retail side is instantaneous today,” says Rob Grimes.
