The TIndex uptick is driven by increased menu prices, Labor Day weekend and the return to classrooms
CHICAGO, Oct. 28, 2021—In September, Technomic’s TIndex, the index on the total foodservice industry, improved slightly to 98.9 from 98.1 in August. According to this data, the industry declined 1.1% over a two-year basis but has grown by 17% when compared to the same month in 2020.
“A few key drivers are to thank for this small uptick,” explains Joe Pawlak, managing principal at Technomic. “Among the explanations are continued price increases on menus, a strong Labor Day weekend for restaurants and the return to live classroom education in colleges and K-12 schools. We’ll see how the industry changes moving forward, especially with more holidays ahead.”
Past TIndex reports:
- September 2021 TIndex (current): 98.9
- August 2021 TIndex: 98.1
- July 2021 TIndex: 101.1
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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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.
Winsight LLC is a business-to-business information company serving the restaurant and noncommercial foodservice, convenience and petroleum retailing and grocery industries. Winsight provides research and analytics, branding solutions, face-to-face opportunities, lead generation initiatives, and content marketing services through products including subscription data products, reports, research tools, research programs, fully custom studies, conferences, custom marketing services, meetings, print and digital trade media. To learn more, visit winsightmedia.com