On this episode of “On Foodable Weekly,” host Paul Barron highlights the restaurants that have grown the most in the past month and what that means for the industry as a whole. We will also look at Del Taco’s brand performance and its biggest competitor: Moe’s Southwest Grill.
According to Foodable Labs, the restaurant industry continues to show an increase in growth. This growth is illustrated through the analysis of real-time data signaling a brand’s visibility across social media platforms. One of the big indicators of restaurant industry health is SRV or Social Restaurant Visits. A social restaurant visit is an action a consumer takes, whether it is a mention, photo share, or “check in” on a social media platform, referencing a restaurant’s location either in a post or within the post’s geo-metadata.
“If volume on conversation is up, that gives us a indicator that potentially we could be seeing either sales shifts or traffic in restaurants moving up or down,” Paul Barron said.
Foodable Labs has added another measurement known as Facebook and Twitter Combined Industry Visibility. Are people talking about going out to eat and are they engaging with top brands? Currently, the total industry visibility month-over-month was somewhat flat, with a slight increase in interactions, unique users, and units identified in the month of October over September.
Looking back at June 2016, the industry experienced the lowest number of interactions of the year to date, with numbers of interactions at 54 million and the number of unique users at 31 million. Contrarily, October showed continuous growth, although slow, in the industry with interaction figures reaching 71 million and unique users reaching over 42 million.
Growth Within the Industry
Restaurants showing notable SRV growth in October over September 2016, include:
- Tender Greens jumps to the No. 1 spot with an 8.82 percent SRV growth.
- Chick-Fil-A steals the No. 2 spot this month with a 5.11 percent SRV growth after not making the Top 10 list back in September.
- Arby’s has been consistent in its ranking month over month, staying at the No. 3 spot since August. Its SRV is currently at 4.92 percent.
- Shake Shack, which has been on the list before, is now at the No. 4 spot with a 4.87 percent SRV growth.
- Freshii drops from the No. 1 spot to No. 5 with just a 4.82 percent. SRV growth month over month
- &pizza is a new entry in the Top 10 list, coming in at the No. 9 spot with a 4.27 percent SRV growth.
An important takeaway from this data is total SRVs for the industry jumped up in August, September, and again in October by over 5 million.
Two brands that prove our case are top performers Del Taco and Moe’s.
Here’s what Foodable Labs found:
- Same store sales growth for 12 quarters
- New market and new menu item penetration
- 68.48 percent increase in overall Foodable Labs score
Moe's Southwest Grill
- 36.4 percent of Chipotle guest crossovers
- Overall higher engagement than Chipotle
- 50.87 percent increase in overall Foodable Labs score
Watch the full episode to learn more!