Toast Restaurant Q1 Trends Report: Dine In Growth Surges While Takeout and Delivery Decline
Toast (NYSE: TOST) released its Q1 Restaurant Trends Report, indicating significant changes in the U.S. restaurant industry. On-premise dining saw a remarkable 46% growth compared to Q1 2021, while takeout and delivery dropped 7%. The Western U.S. region performed the best, achieving 38% growth. Major cities like San Francisco and New York reported up to 57% growth in gross merchandise value. Despite challenges like labor shortages and rising input prices, the report highlights resilience in the industry as tipping remains steady across various restaurant types.
- On-premise dining sales increased by 46% year-over-year.
- Western region of the U.S. saw 38% sales growth, outperforming other regions.
- Top five cities experienced significant growth in sales, with San Francisco leading at 57%.
- Takeout and delivery sales declined by 7% year-over-year.
- Ongoing labor shortages continue to challenge restaurant operations.
- Rising input prices due to supply chain disruptions.
Guests tip
(Graphic: Business Wire)
In Q1, the operating environment continued to change rapidly for restaurant operators – pandemic restrictions lifted throughout the
Dining in surges while takeout and delivery decline
Diners are ready for the warm weather and enjoying their favorite meals in person. On-premise dining sales were up
Restaurant sales saw strongest growth in the West and Northeast
While all regions in the
The restaurant recovery is real in major markets across the
Tipping remains steady
On average across all tipped transactions, tipping across full-service and quick-service restaurants remained steady at an average of
Guests in the Midwest were slightly more generous this quarter, with
Guests tip more when they dine-in versus ordering take-out or delivery
Guests continue to appreciate great service when dining in. Across all tipped transactions they are tipping significantly more when they are on premise versus when ordering takeout or delivery.
Top performing cuisines
Asian-Inspired cuisine is the top performing cuisine among guests followed by breakfast and middle eastern.
Methodology
The Restaurant Trends Report, powered by Toast, uncovers key trends across the restaurant industry through aggregated sales data from restaurants on the Toast platform, which has approximately 62,000 locations as of
About Toast
Toast is the end-to-end platform built for restaurants of all sizes. Toast provides a single 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, operations, digital ordering and delivery, marketing and loyalty, and team management. By serving as the restaurant operating system across dine-in, takeout, and delivery channels, Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. Toast proudly serves approximately 48,000 restaurant locations.
TOST-CORP
View source version on businesswire.com: https://www.businesswire.com/news/home/20220518005199/en/
Media: media@toasttab.com
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FAQ
What were the key findings in Toast's Q1 2022 Restaurant Trends Report?
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