Ongoing monthly index provides unique benchmark for the foodservice industry
CHICAGO, April 30, 2021—Today, Technomic released the first TIndex (Technomic Index), which is designed to provide a benchmark to help analysts and industry leaders track the health of the foodservice industry in the United States. The TIndex is a unique way to track the foodservice industry, built using a variety of datasets available to Technomic, 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.
“We have been tracking the foodservice industry since 1966,” explains Joe Pawlak, managing principal at Technomic. “The TIndex allows us to provide a snapshot of industry health built on years of historical data and industry expertise. This month, the TIndex is showing the beginning of a recovery for the industry, as vaccinations increase and states begin to ease COVID-19 restrictions. Throughout 2020, the TIndex remained below 85, but we have seen a consistent uptick since January of 2021.”
Technomic will release the TIndex every month, beginning with March 2021, and has historical TIndex data starting with beginning of 2020.
The TIndex is Technomic’s index on the total U.S. industry, reported monthly, comparing performance to the same month in 2019. The TIndex includes inflation and allows for industry growth analysis on a year-over-year basis for the same month.
- March 2021 TIndex (current): 94.1
- February 2021 TIndex: 86.1
- January 2021 TIndex: 82.2
As a comparison, the TIndex in March 2020, the beginning of COVID-19 restrictions in the U.S., was 75.5, which means the industry grew by almost 25% when comparing March 2021 with to March 2020.
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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, as well as 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.
Winsight LLC is a portfolio company of Pamlico Capital.