Restaurant Trends January 2023
US Quick-Service Sales & Traffic Performance

QSR US Traffic is down 4.2% compared to Q4 2021 and slightly lower than in the previous quarter.
Average Price is up 16.2% YOY but has started to stabilize, with only a slight increase compared to Q3 2022. In Q4 2022, pricing activity, menu changes and promotional activities were the primary drivers of increases.

Breakdown of Quarterly QSR Trends
The following is a snapshot of US Quick-Service Restaurant (QSR) trends for Q4 2022.

When compared to Q4 2021:
- Net sales remain positive at 6.1% and and flat compared to the previous quarter (+6.3%).
- Sales continue to be fueled by average check increases (+10.7%), which are, in turn, driven mainly by average price. Quantity per transaction declined more sharply (-4.8%), indicating that more customers are managing their checks at a higher rate by reducing the number of items they purchase.
- The Q4 2022 increases in QSR average price (+16.2) were driven by pricing activity, value platform changes and less profitable menu mix changes.
Daypart Trends

- Overall daypart trends remain stable for lunch (-4.8%) and dinner (-2.1%).
- Breakfast performance declined sharply (-7.3%) in Q4 due to less promotional activity in 2022 compared to 2021.
Revenue Channels

- Drive-thru year-over-year traffic is down -12.2% in Q4. However, performance has remained stable throughout 2022.
- Dine-in performance (+31.1% YOY) stabilized again in Q4 and was the top-performing QSR channel in 2022.
- Takeout (+22.1% YOY) continues to perform positively compared to last year and saw a slight increase from Q3 (+18%).
- Delivery traffic remains positive YOY (+15.9%), but performance slightly declined compared to the previous quarter (+20.1%).
The current inflationary environment requires data-driven solutions laser-focused on individual locations and specific guest patterns. Reach out today with questions. We’re here to help.
Consultant’s Corner
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