Technomic reports sales of top 500 chain restaurants fell more than 8% in 2020
CHICAGO, April 2, 2021 / PRNewswire / – Technomic has just released one of the most anticipated reports, the 2021 report on the chain’s 500 best restaurants, which includes expert conclusions and information on the sales performance of US restaurant chains as of 2020. The report is built from decades of historical data with detailed analysis of the restaurant industry and restaurants. overall trends, including the impact of COVID-19 and performance rankings, as well as annual sales and number of units by chain and segment.
âDisrupted by the COVID-19 pandemic, the top 500 restaurant chains saw their sales drop by $ 27 billion in 2020, down more than 8% compared to 2019 “, explains Kevin schimpf, senior research director at Technomic. âWhile many small chains and independent restaurants have struggled to stay in business over the past year, the market share of the industry’s largest chains has grown significantly. “
- Drive-thru and delivery-focused chains dominated 2020, as industry giants like McDonald’s, Chick-fil-A and Domino’s all achieved positive sales results.
- Location closures have remained relatively minimal, as the overall Top 500 location footprint only shrinks by 2%.
- Sales growth for chicken chains reached double digits, driven by strong momentum from players such as Wingstop, Popeyes Louisiana Kitchen and Raising Cane’s Chicken Tenders.
- Wendy’s built on the success of its breakfast launch to become the fifth-largest chain overall.
- No full-service concept made it into this year’s top 20, as rankings slipped for most full-service chains.
Technomic has produced a ranking of the best American restaurant chains since 1978. The latest ranking is available for purchase now: https://www.technomic.com/reports/industry-reports/top-500
Contact: Patrick noone, (312) 506-3852, [emailÂ protected]
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 trend tracking and menus and other leading strategic research and analysis capabilities to prioritize and size business opportunities. Our customers include food manufacturers and distributors, restaurants, retailers and many other food industry aligned lines of business looking to make informed decisions to support the growth of their business. Visit Technomic at www.technomic.com.
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