Toast Restaurant Trends Report: The Cost of Going Out to Lunch
Toast's Q2 2024 Restaurant Trends Report reveals key insights into the U.S. restaurant industry. Quick-service restaurant prices increased across popular lunch items, with sandwiches and wraps averaging $11.26 (+4.6% YOY). Consumer spending shifted towards breakfast and away from dinner and late-night transactions in 20 U.S. cities. In California, QSR cashiers earned a median hourly wage of $16.98 in June.
Tipping rates decreased slightly, with the total average at 18.8%. Full-service restaurant tips dipped to 19.3%, while QSR tips dropped to 15.9%. The report also highlights regional food preferences, with sandwiches and wraps being the most popular in most states, except for tacos in California, Nevada, Oregon, and Texas. The data is based on transactions from approximately 120,000 restaurant locations using Toast's platform as of June 30, 2024.
Il Rapporto sulle Tendenze dei Ristoranti di Toast per il Q2 2024 rivela importanti informazioni sull'industria dei ristoranti negli Stati Uniti. I prezzi dei ristoranti fast food sono aumentati per i piatti di pranzo più popolari, con panini e wrap che hanno una media di $11,26 (+4,6% YOY). La spesa dei consumatori si è spostata verso la colazione, allontanandosi dalle cene e dalle transazioni notturne in 20 città statunitensi. In California, i cassieri dei ristoranti fast food hanno guadagnato un salario orario mediano di $16,98 a giugno.
Le percentuali di mancia sono diminuite leggermente, con una media totale del 18,8%. Le mance nei ristoranti di servizio completo sono scese al 19,3%, mentre quelle nei fast food sono diminuite al 15,9%. Il rapporto evidenzia anche le preferenze alimentari regionali, con panini e wrap che sono i più popolari nella maggior parte degli stati, eccezion fatta per i tacos in California, Nevada, Oregon e Texas. I dati si basano sulle transazioni di circa 120.000 ristoranti che utilizzano la piattaforma di Toast al 30 giugno 2024.
El Informe de Tendencias de Restaurantes de Toast para el Q2 2024 revela información clave sobre la industria de restaurantes en EE. UU. Los precios de los restaurantes de servicio rápido aumentaron en los artículos populares de almuerzo, con sándwiches y wraps que promediaron $11.26 (+4.6% interanual). El gasto de los consumidores se trasladó hacia el desayuno y alejándose de la cena y las transacciones nocturnas en 20 ciudades de EE. UU. En California, los cajeros de restaurantes de servicio rápido ganaron un salario por hora medio de $16.98 en junio.
Las tasas de propina disminuyeron ligeramente, con un promedio total del 18.8%. Las propinas en restaurantes de servicio completo cayeron al 19.3%, mientras que las propinas en los restaurantes de servicio rápido bajaron al 15.9%. El informe también destaca las preferencias alimentarias regionales, siendo los sándwiches y wraps los más populares en la mayoría de los estados, excepto en California, Nevada, Oregón y Texas, donde predominan los tacos. Los datos se basan en transacciones de aproximadamente 120,000 restaurantes que utilizan la plataforma de Toast hasta el 30 de junio de 2024.
Toast의 2024년 2분기 레스토랑 트렌드 보고서는 미국 레스토랑 산업에 대한 주요 통찰력을 제공합니다. 패스트푸드 레스토랑의 가격이 인기 점심 메뉴에서 상승했으며, 샌드위치와 랩의 평균 가격은 $11.26 (+4.6% 전년 대비)입니다. 소비자 지출은 저녁 및 심야 거래에서 아침으로 이동하고 있으며, 이는 미국의 20개 도시에서 관찰됩니다. 캘리포니아에서는 패스트푸드 레스토랑의 캐셔들이 6월에 중간 시급 $16.98을 벌었습니다.
팁 비율은 소폭 감소하여 전체 평균이 18.8%에 이릅니다. 풀서비스 레스토랑의 팁은 19.3%로 떨어졌고, 패스트푸드 레스토랑의 팁은 15.9%로 감소했습니다. 이 보고서는 또한 지역별 음식 선호도를 강조하고 있으며, 샌드위치와 랩이 대부분의 주에서 가장 인기가 있지만, 캘리포니아, 네바다, 오리건 및 텍사스에서는 타코가 가장 인기있게 자리잡고 있습니다. 데이터는 2024년 6월 30일 기준으로 Toast의 플랫폼을 사용하는 약 120,000개 레스토랑의 거래를 기반으로 합니다.
Le Rapport sur les Tendances des Restaurants de Toast pour le 2ème trimestre 2024 révèle des informations clés sur l'industrie des restaurants aux États-Unis. Les prix des restaurants de restauration rapide ont augmenté pour les plats de déjeuner populaires, les sandwichs et wraps ayant un prix moyen de 11,26 $ (+4,6 % en glissement annuel). Les dépenses des consommateurs se sont orientées vers le petit-déjeuner, délaissant le dîner et les transactions nocturnes dans 20 villes américaines. En Californie, les caissiers des restaurants de restauration rapide ont gagné un salaire horaire médian de 16,98 $ en juin.
Les taux de pourboire ont légèrement diminué, avec une moyenne totale de 18,8 %. Les pourboires dans les restaurants à service complet ont baissé à 19,3 %, tandis que les pourboires dans les restaurants de restauration rapide ont chuté à 15,9 %. Le rapport met également en lumière les préférences culinaires régionales, les sandwichs et wraps étant les plus populaires dans la plupart des États, à l'exception des tacos en Californie, au Nevada, en Oregon et au Texas. Les données sont basées sur des transactions provenant d'environ 120 000 établissements utilisant la plateforme de Toast au 30 juin 2024.
Der Trendsbericht von Toast für das 2. Quartal 2024 liefert wichtige Einblicke in die US-Restaurantbranche. Die Preise in Schnellrestaurants sind bei beliebten Mittagsgerichten gestiegen, wobei Sandwiches und Wraps im Durchschnitt $11,26 (+4,6% im Vergleich zum Vorjahr) kosten. Die Konsumausgaben haben sich in 20 US-Städten vom Abendessen und nächtlichen Transaktionen hin zum Frühstück verschoben. In Kalifornien verdienten Kassierer in Schnellrestaurants im Juni einen mittleren Stundenlohn von $16,98.
Die Trinkgeldsätze sind leicht gesunken, mit einem Gesamtdurchschnitt von 18,8%. Die Trinkgelder in Vollservice-Restaurants fielen auf 19,3%, während die Trinkgelder in Schnellrestaurants auf 15,9% fielen. Der Bericht hebt auch regionale Essensvorlieben hervor, wobei Sandwiches und Wraps in den meisten Bundesstaaten am beliebtesten sind, mit Ausnahme von Tacos in Kalifornien, Nevada, Oregon und Texas. Die Daten basieren auf Transaktionen von etwa 120.000 Restaurantstandorten, die bis zum 30. Juni 2024 die Plattform von Toast nutzen.
- Toast's platform serves approximately 120,000 restaurant locations, indicating a strong market presence
- Consumer spending at QSRs shifted towards breakfast, potentially indicating new revenue opportunities
- Toast Benchmarking tool leverages AI-based classification for menu insights, demonstrating technological innovation
- Overall tipping rates decreased to 18.8%, potentially impacting restaurant staff income
- Some food items, like hot dogs, saw a 9% decrease in sales compared to Q2 2023
- Increased prices for popular lunch items may impact consumer spending habits
Insights
The Toast Q2 2024 Restaurant Trends Report provides valuable insights into the quick-service restaurant (QSR) sector. Key findings include:
- Average QSR lunch item prices increased by
4.6% year-over-year for popular items like sandwiches, wraps and burgers. - Regional food preferences vary, with tacos dominating in western states.
- A shift towards breakfast transactions in 20 U.S. cities suggests changing consumer habits.
- Tipping rates slightly decreased to
18.8% overall, with full-service at19.3% and QSR at15.9% .
These trends indicate inflationary pressures on menu prices and potential changes in consumer dining patterns. The data could impact restaurant strategies and investor outlook in the food service industry.
Toast's report reveals important financial trends in the restaurant industry:
- QSR price increases of
4.6% YoY for key menu items outpace overall inflation, potentially boosting revenues but risking consumer pushback. - Shift to breakfast transactions may impact profit margins, as breakfast items typically have lower price points.
- Slight decline in tipping could affect employee retention and compensation structures.
- California's median hourly wage of
$16.98 for QSR cashiers reflects rising labor costs.
These factors could squeeze profit margins for restaurants, potentially impacting Toast's transaction volume and revenue. Investors should monitor how Toast adapts its platform to help restaurants navigate these challenges.
The Q2 2024 Restaurant Trends report examines popular lunch food trends, quick-service restaurant transactions in 20 U.S. cities, restaurant employee wages, and tipping data.
Key takeaways:
-
In Q2 2024, guests at quick-service restaurants (QSRs) paid an average of
$11.26 4.6% YOY) for sandwiches and wraps,$12.98 4.6% ) for bowls,$11.45 4.6% YOY) for burgers,$11.42 2.7% YOY) for salads,$10.74 4.3% YOY) for burritos,$6.04 4.4% YOY) for an order of fries, and$3.00 4.6% YOY) for a soda.1 -
Sandwiches and wraps were the most popular food at quick-service restaurants in every state except
California ,Nevada ,Oregon , andTexas , where tacos are the most popular. Bowls were most popular inHawaii , and salads were the most popular item inUtah .1 - Consumer spending at quick-service restaurants in 20 U.S. cities Toast explored saw a noticeable shift to breakfast and away from dinner and late-night transactions.2
-
In June, cashiers at quick-service restaurants in
California made a median hourly wage of$16.98 -
Tipping dropped slightly in Q2 2024 to a total average of
18.8% . Full-service restaurant tips also dipped to19.3% , and quick-service restaurant tips dropped to15.9% .4
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.
The cost of going out to lunch
To gauge the cost of going out to lunch for consumers compared to last year, Toast examined same-store sales at quick-service restaurants on the Toast platform among 13 different food types: tacos, fries, hot dogs, dumplings, soups/stews, quesadillas, chicken tenders, burritos, sandwiches/wraps, salads, burgers, bowls, and noodles/ramen.
Burgers, bowls, and noodles/ramen topped the list as the most expensive items, while tacos, fries, and hot dogs were the cheapest. Tacos (+
The price of hot dogs (+
Hot dog sales dipped
View the full report on the Toast Newsroom.
Methodology:
1Toast analyzed transactions at quick-service restaurants on the Toast platform from April 1, 2023, to June 30, 2024, to determine the price growth of tacos, fries, hot dogs, dumplings, soup/stew, quesadillas, chicken tenders, burritos, sandwiches/wraps, salads, burgers, bowls, and noodles/ramen. Toast used a cohort of same-store restaurants on the platform since Q1 2023.
2Toast analyzed hourly transactions at quick-service restaurants on the Toast platform from April 1, 2023, to June 30, 2024. Toast used a cohort of same-store restaurants on the platform since Q1 2023.
3Data from applicable same-store quick-service restaurants on the Toast platform from January 1, 2023, to June 30, 2024. Salaried, overtime, bonus wages, and paid time off are not included. Employees included in the analysis worked a minimum of five hours in the payroll period. Hourly wages do not include tips. Base wages are the total wages divided by the number of hours worked.
4Data from applicable restaurants on the Toast platform where a tip was added to the order via a card or digital payment from April 1, 2024, to June 30, 2024. Cash tips are not included in the analysis.
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 120,000 locations as of June 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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Investors: IR@toasttab.com
Source: Toast
FAQ
What was the average price of a sandwich or wrap at quick-service restaurants in Q2 2024 according to Toast's report?
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Which food items were most popular at quick-service restaurants across different states based on Toast's (TOST) Q2 2024 report?
