What CFOs Need to Know About CX’s Impact on Revenue, According to Actual Sales & Traffic Data
When you think about customer experience analysis, what comes to mind? A murky, time-consuming process with no clear starting or ending point? Restaurateurs tend to know that customer experience is important. But fully understanding what is ultimately such a subjective and nuanced concept and quantifying its impact on actual business performance is incredibly challenging. As […]
April’s Sales Gains Driven by Check Growth, but Value-Centric Restaurants Lead in Traffic Growth
Performance Snapshot: Sales, Traffic, and Check Growth April Marks Strongest Sales Month of 2024 Although April was the strongest month for same-store sales so far this year, sales growth remains weak compared to the 1.9% average seen in the second half of 2023. Traffic Growth Experienced a Slight Uptick While sales growth has decelerated considerably […]
Q2 2024 State of the Restaurant Industry: Steady Sales and Check Growth, Off-Premise Remains Key Opportunity
Sales, Traffic, and Check Growth by the Numbers March’s year-over-year (YoY) same-store sales growth was a modest 0.1%, marking the first positive sales growth of the year. Although this is an improvement of 0.6 percentage points from February and 4.6 percentage points from January, the weather likely dampened results in the first two months of […]
Gen Zs Flooding into Workforce as Boomers Exit—How Can Restaurants Manage This Shift?
The Predicament Most restaurants remain understaffed. Salary is the #1 factor drawing Gen Zs to a job. The majority of hourly new hires are Gen Zs. Turnover is easing but remains higher than pre-pandemic levels. Workplace benefits and training play a pivotal role in employee retention. As if the restaurant industry hasn’t faced enough […]
California’s Fast Food Minimum Wage Hike: Much Too Much, Much Too Soon . . . But What Now?
The Impact of California’s Fast Food Minimum Wage Hike On April 1, the long-awaited and contentious minimum wage law for California fast food workers finally took effect, raising their hourly pay to $20. This represents a 25% increase and is $4 per hour higher than the state-wide minimum—a massive shift in an industry where margins […]