Restaurant Trends August 2023
US Quick-Service Sales & Traffic Performance
The following is a snapshot of US Quick-Service Restaurant (QSR) trends for July 2023.
QSR US traffic is down -1.8% compared to July 2022, and experienced a slight decrease from the previous month.
Average price increased by +9.3% YOY, but has been decreasing since April, confirming a slowdown in pricing activity compared to 2022.
Breakdown of Monthly QSR Performance Trends
When compared to July 2022:
- Net sales remain positive at +3.9% YOY.
- Traffic is down -1.8% YOY. Sales continue to be driven by average check increases (+5.8% YOY).
- QSR average price increased by +9.3% YOY.
- Quantity per transaction decreased by -3.3% YOY, indicating that consumers are ordering fewer items to spend less.
- Dinner continues to outperform other dayparts. Traffic is up +0.6% YOY.
- Lunch performance is down -3.3% compared to last year, and breakfast is down -4.1% YOY.
QSR Revenue Channels
- Despite possible service and fee costs, delivery is the top-performing channel, up +19.9% YOY.
- Dine-in traffic increased +12.4% YOY.
- Takeout (+10.1%) performed positively YOY.
- Drive-thru traffic is down -7.4% YOY.
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