November showed small growth in social restaurant visits since October. On this episode of "On Foodable Weekly," Host Paul Barron dissects the numbers and predicts which brands may have strong sales in 2017. Watch below!
According to Foodable Labs, Facebook and Twitter conversations surrounding the top 500 restaurant brands are up this month, as are social restaurant visits. What are SRVs? Foodable Labs measures SRVs by looking at social media conversations and analyzing users’ intent to visit a restaurant, their return or referral to a restaurant, and direct actions such as Facebook Check-ins or Instagram posts about their trip to a restaurant.
Within the top 500 brands, Shake Shack showed the greatest growth in SRVs last month at 6.65 percent. Right behind Shake Shack, Tender Greens has held steady in the No. 2 spot with 5.64 percent growth over October. Other top 500 brands showing high SRV growth include Digg Inn, Penn Station, Arby’s, Modern Market, and Freshii.
Social restaurant visits for the entire industry are also showing a slight increase from 129.6 million to 130.1 million. This uptick is on trend with the increases we’ve been seeing since August.
Using our data, Foodable Labs has identified some predictors of strong sales and unit growth. Some brands predicted to do well in 2017 include Del Taco, honeygrow, Matchbox, Freshii, Zoes Kitchen, Mod Pizza, and Little Beet.
Our top performer of 2016, however, is a bit unexpected.
Host Paul Barron says, “McDonald’s has really turned the ship around and doing some things that have obviously made an impact with their brand.”
With an 80 point increase in their overall Foodable Labs Score in 2016, we are seeing a lot of similarities with McDonald’s sales chart. Competing with Wendy’s, Burger King, and Sonic Drive-in, McDonald’s holds their lead thanks to high social engagement with their customers.