Drivers of the decline include softness in travel and leisure as well as less traffic for independents
CHICAGO, Dec. 21, 2021—Technomic’s latest TIndex release, representing foodservice industry health, showed another slight decline in November from October. This result means we’ve seen two months of moderate deceleration, and Technomic cites similar drivers for both months: traffic moderation among independent restaurants and continued softness in the travel and leisure segments.
“The TIndex dropped to 97.2 in November, down from 97.8 in October and 98.9 in September,” explains Joe Pawlak, managing principal at Technomic. “Based on this data, the industry is down 2.8% over a two-year basis but has grown by 22% compared to the same month in 2020.”
Past TIndex reports:
- November 2021 (current): 97.2
- October 2021: 97.8
- September 2021: 98.9
TIndex is Technomic’s index on the total U.S. industry, reported monthly, comparing performance to the same month in 2019. TIndex includes inflation and allows for industry growth analysis on a year-over-year basis for the same month. It offers a unique way to track the foodservice industry, built using a variety of data sets, including operator transaction, consumer visit tracking and distributor sales information. The data is then weighted and evaluated to align with a representation of the total foodservice industry.
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About Technomic
Technomic Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic’s services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking and other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.
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