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Fast-casual chains continue to outperform, report says
June 22, 2008
CHICAGO — According to Chicago-based foodservice consultant Technomic Information Services, the Top 100 fast-casual chains continued to be the growth vehicle for the limited-service restaurant industry in 2007, and outperformed the restaurant industry as a whole.
According to the 2008 Top 100 Fast-Casual Restaurant Report, fast-casual chains experienced 13.3 percent sales growth and 9.5 percent unit growth increases in 2007. The overall limited-service segment saw a 5.3 percent sales growth increase in 2007 along with a 2.6 percent rise in unit growth. Meanwhile, the restaurant industry as a whole experienced a 5 percent sales growth and 2.6 unit growth increase for the year.
The Top 100 chains totaled $14.8 billion in sales, accounting for most of the $16 billion to $17 billion the entire fast-casual industry grossed in 2007.
The report identifies and analyzes four key characteristics that will have an ongoing influence on fast-casual menus and continuing growth opportunities:
- Exceptional flavor and spice profiles;
- high-quality ingredients;
- regional ethnic cuisines;
- fresh and healthy inspirations.
Panera Bread remained the highest-grossing fast-casual chain with $2.2 billion in estimated sales in 2007, as well as the chain with the largest sales and unit growth in terms of actual dollars ($336.9 million) and units (140 new stores). It also leads the bakery café segment. Second- and third-place chains were Chipotle Mexican Grill, with an estimated $1.1 billion, and Panda Express with an estimated $1 billion in sales in 2007.
Click hereto learn more about the report.
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