Toast Data: Reservation Trends Shift to Slower Days and Early Dinners
Toast (NYSE: TOST) has released its Q3 2024 Restaurant Trends Report, revealing significant shifts in reservation patterns and price increases in food and drinks. The report, based on data from 127,000 restaurant locations, highlights a 11% increase in reservations on Mondays and Tuesdays, while Saturdays saw a 1% decline. Early bird dinners are on the rise, with fewer bookings post 7 p.m. Reservation cancellations dropped to 17% from 19% last year, and 45% of reservations were made for the same day.
Price increases were noted across various items: beer ($6.34, +2.4%), vodka drinks ($9.91, +2.7%), chicken tenders ($10.66, +4.8%), and steak ($26.62, +2.9%). Servers at full-service restaurants earned a median hourly wage of $6.24 and a median tip rate of $21.48. Total tips averaged 18.8%, consistent with Q2 2024. The report also includes detailed price growth for various food and drink items.
Toast (NYSE: TOST) ha pubblicato il suo Rapporto sulle Tendenze dei Ristoranti per il terzo trimestre del 2024, rivelando significativi cambiamenti nei modelli di prenotazione e gli aumenti dei prezzi di cibo e bevande. Il rapporto, basato su dati provenienti da 127.000 ristoranti, evidenzia un aumento del 11% nelle prenotazioni il lunedì e il martedì, mentre il sabato ha visto un calo dell'1%. Le cene anticipate stanno guadagnando popolarità, con meno prenotazioni dopo le 19:00. Le cancellazioni di prenotazioni sono scese al 17% dal 19% dell'anno scorso, e il 45% delle prenotazioni è stato effettuato per lo stesso giorno.
Gli aumenti di prezzo sono stati notati su vari articoli: birra ($6.34, +2.4%), cocktail di vodka ($9.91, +2.7%), petti di pollo impanati ($10.66, +4.8%) e bistecca ($26.62, +2.9%). I camerieri nei ristoranti a servizio completo hanno guadagnato una paga oraria mediana di $6.24 e una media delle mance di $21.48. L'ammontare totale delle mance è stato in media del 18.8%, in linea con il secondo trimestre del 2024. Il rapporto include anche dettagli sulla crescita dei prezzi per vari articoli di cibo e bevande.
Toast (NYSE: TOST) ha publicado su Informe de Tendencias de Restaurantes para el tercer trimestre de 2024, revelando cambios significativos en los patrones de reservas y aumentos de precios en alimentos y bebidas. El informe, basado en datos de 127,000 restaurantes, destaca un aumento del 11% en las reservas los lunes y martes, mientras que los sábados vieron una disminución del 1%. Las cenas anticipadas están en aumento, con menos reservas después de las 7 p.m. Las cancelaciones de reservas cayeron al 17% desde el 19% del año pasado, y el 45% de las reservas se realizaban para el mismo día.
Se notaron aumentos de precios en varios artículos: cerveza ($6.34, +2.4%), bebidas de vodka ($9.91, +2.7%), nuggets de pollo ($10.66, +4.8%) y filete ($26.62, +2.9%). Los meseros en restaurantes de servicio completo ganaron un salario horario mediano de $6.24 y una tasa mediana de propinas de $21.48. Las propinas totales promediaron el 18.8%, consistentemente con el segundo trimestre de 2024. El informe también incluye un crecimiento de precios detallado para varios artículos de comida y bebida.
Toast (NYSE: TOST)는 2024년 3분기 레스토랑 트렌드 보고서를 발표하며 예약 패턴의 중대한 변화와 음식 및 음료 가격 상승을 드러냈습니다. 127,000개 레스토랑의 데이터를 기반으로 한 이 보고서는 월요일과 화요일 예약이 11% 증가했다고 강조하면서, 토요일은 1% 감소했다. 조기 저녁 식사가 증가하고 있으며, 오후 7시 이후의 예약은 줄어들고 있습니다. 예약 취소율은 지난해 19%에서 17%로 감소했으며, 예약의 45%가 당일 예약으로 이루어졌습니다.
다양한 품목에서 가격 인상이 보였는데, 맥주 ($6.34, +2.4%), 보드카 음료 ($9.91, +2.7%), 치킨 텐더 ($10.66, +4.8%), 스테이크 ($26.62, +2.9%) 등이 포함됩니다. 풀서비스 레스토랑의 서버들은 중간 시급으로 $6.24를 받았고, 평균 봉사료는 $21.48이었습니다. 총 껍데기액은 18.8%로, 2024년 2분기와 일치합니다. 이 보고서에는 다양한 음식 및 음료 품목에 대한 자세한 가격 상승이 포함되어 있습니다.
Toast (NYSE: TOST) a publié son Rapport sur les Tendances des Restaurants pour le troisième trimestre 2024, révélant des changements significatifs dans les modèles de réservation et des augmentations de prix sur les aliments et les boissons. Le rapport, basé sur des données provenant de 127 000 restaurants, met en lumière une augmentation de 11% des réservations les lundis et mardis, tandis que les réservations du samedi ont diminué de 1%. Les dîners anticipés sont en hausse, avec moins de réservations après 19 heures. Le taux d'annulation des réservations a chuté de 19% l'année dernière à 17%, et 45% des réservations ont été effectuées pour le même jour.
Des augmentations de prix ont été notées sur divers articles : bière ($6.34, +2.4%), cocktails de vodka ($9.91, +2.7%), nuggets de poulet ($10.66, +4.8%) et steak ($26.62, +2.9%). Les serveurs dans les restaurants à service complet ont gagné un salaire horaire médian de $6.24 et un taux de pourboire médian de $21.48. Les pourboires totaux ont en moyenne atteint 18.8%, conformément au deuxième trimestre 2024. Le rapport comprend également des détails sur la croissance des prix pour divers articles alimentaires et de boisson.
Toast (NYSE: TOST) hat seinen Bericht über Restauranttrends für das dritte Quartal 2024 veröffentlicht, der bedeutende Veränderungen bei den Reservierungsmustern und Preiserhöhungen für Speisen und Getränke offenbart. Der Bericht, der auf Daten von 127.000 Restaurants basiert, hebt einen 11% Anstieg der Reservierungen an Montagen und Dienstagen hervor, während die Samstagsreservierungen um 1% zurückgingen. Frühe Abendessen sind auf dem Vormarsch, während die Buchungen nach 19 Uhr abnehmen. Die Stornierungsrate für Reservierungen sank von 19% im vergangenen Jahr auf 17%, und 45% der Reservierungen wurden für den gleichen Tag vorgenommen.
Bei verschiedenen Artikeln wurden Preiserhöhungen festgestellt: Bier ($6.34, +2.4%), Wodka-Getränke ($9.91, +2.7%), Hähnchenbrust ($10.66, +4.8%) und Steak ($26.62, +2.9%). Kellner in Vollservice-Restaurants verdienten einen medianen Stundenlohn von $6.24 und einen medianen Trinkgeldsatz von $21.48. Die Trinkgelder lagen im Durchschnitt bei 18.8%, was mit dem zweiten Quartal 2024 übereinstimmt. Der Bericht enthält auch detaillierte Informationen zum Preisanstieg bei verschiedenen Lebensmitteln und Getränken.
- Reservations increased by 11% on Mondays and Tuesdays.
- Reservation cancellations decreased from 19% to 17% year-over-year.
- 45% of reservations were made for the same day, indicating a trend towards spontaneous dining.
- Reservations on Saturdays decreased by 1% compared to last year.
- Prices for food and drinks have increased, potentially impacting customer satisfaction.
Insights
This comprehensive restaurant data reveals significant shifts in consumer behavior and pricing trends that could impact Toast's transaction volume and revenue. The shift towards early dining and weekday reservations (11% increase on Mondays/Tuesdays) suggests changing consumer habits that restaurants need to adapt to. The lower cancellation rate (17% vs previous 19%) indicates improved operational efficiency for restaurants using Toast's platform.
Price increases across menu items (ranging from
The data points to Toast's growing market penetration and platform utility. With approximately 127,000 restaurant locations, the company's extensive data collection capabilities provide valuable insights for both restaurants and investors. The high rate of same-day reservations (45%) highlights the importance of Toast's digital infrastructure in managing dynamic customer demand.
The consistent tipping rates and detailed wage data (
The Q3 2024 Restaurant Trends report examines shifts in reservation trends, food and alcohol price increases, and tipping and wage data for full-service restaurants.
Key takeaways:
-
Reservations on the Toast platform increased
11% on Mondays and Tuesdays and dipped1% on Saturdays compared to last year.1 - Compared to last year, guests are booking more reservations for early bird dinners and fewer reservations after 7 p.m. 2
-
17% of reservations were canceled in Q3 2024, down from19% compared to last year.3 -
45% of reservations in Q3 2024 were made for the same day. 3 -
In Q3 2024, guests at full-service restaurants paid
$6.34 2.4% YOY),$6.72 2.5% YOY),$8.06 2.7% YOY),$9.91 2.7% YOY),$10.29 2.8% YOY),$11.40 4.0% YOY), and$13.48 0.2% YOY).4 -
In Q3 2024, guests at full-service restaurants paid
$10.66 4.8% YOY),$11.98 4.5% ),$12.03 2.3% YOY),$12.99 2.8% YOY),$13.33 3.7% YOY),$13.52 3.9% YOY),$13.52 5.1% YOY),$15.69 4.7% YOY),$20.07 5.3% YOY), and$26.62 2.9% YOY).5 -
Servers at full-service restaurants made a median hourly wage of
$6.24 $21.48 -
Total tips averaged
18.8% in Q3 2024, the same as Q2 2024. Average full-service restaurant tips also remained flat at19.3% in Q3 compared to Q2, while tips at quick-service restaurants dipped to15.8% in Q3 compared to15.9% in Q2. 7
View the full report on the Toast Newsroom.
Toast Benchmarking powers the Restaurant Trends Report's menu insights. This tool leverages AI-based classification and allows users to compare restaurant and menu category performance against aggregated data from peer Toast restaurants.
Methodology:
1Toast analyzed the number of same-store reservations each day of the week at full-service restaurants on the Toast Tables platform in Q3 2024 and compared them to Q3 2023 to determine which days had more or fewer reservations than last year.
2Toast analyzed the number of same-store reservations each hour of the day at full-service restaurants on the Toast Tables platform in Q3 2024 and compared them to Q3 2023 to determine which hours had more or fewer reservations than last year between 4 p.m. and 12 a.m.
3Toast analyzed the number of same-store reservations and waitlist bookings at full-service restaurants on the Toast Tables platform in Q3 2024 and compared them to Q3 2023.
4Toast analyzed transactions at full-service restaurants on the Toast platform from July 1, 2023 to September 30, 2024, to determine the price growth of beer, cider, rum, vodka, whiskey, gin, and tequila. Toast used a cohort of same-store restaurants on the platform since Q3 2023.
5Toast analyzed transactions at full-service restaurants on the Toast platform from July 1, 2023 to September 30, 2024, to determine the price growth of chicken tenders, sushi, breakfast platters, wings, noodles/ramen, burritos, bowls, pasta, fajitas, and steak. Toast used a cohort of same-store restaurants on the platform since Q3 2023.
6Data from applicable same-store full-service restaurants on the Toast platform from Sept. 1, 2023, to Sept. 30, 2024. Salaried, overtime, and bonus wages are not included. Paid time off is not included. Servers included in the analysis worked a minimum of five hours in the payroll period and received tips greater than zero. Servers’ job titles included a version of the words "server" or "wait." Hourly wages do not include tips. Base wages are the total wages divided by the number of hours. Tips per hour are the total reported tips divided by the number of hours.
7Data from applicable restaurants on the Toast platform where a tip was added to the order via a card or digital payment from July 1, 2024, to September 30, 2024. Cash tips are not included in the analysis. Tipping rates are gratuity that was added to the total processing volume before tips, including taxes and fees.
About the Restaurant Trends Report:
The Restaurant Trends Report, powered by Toast, uncovers key trends across the restaurant industry through aggregated sales data from a selection of cohorts of restaurants on the Toast platform, which has approximately 127,000 locations as of September 30, 2024. This information is provided for general informational purposes only, and publication does not constitute an endorsement. Toast does not warrant the accuracy or completeness of any information, text, graphics, links, or other items contained within this content. Individual results may vary. Toast does not guarantee you will achieve any specific results if you follow any advice herein. It may be advisable for you to consult with a professional such as a lawyer, accountant, or business advisor for advice specific to your situation. The Restaurant Trends Report is not indicative of the operational performance of Toast or its reported financial metrics.
About Toast
Toast [NYSE: TOST] is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a comprehensive platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management. We serve as the restaurant operating system, connecting front of house and back of house operations across service models including dine-in, takeout, delivery, catering, and retail. Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.
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Media: media@toasttab.com
Investors: IR@toasttab.com
Source: Toast
FAQ
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