Chain Sales Declined 8%+ in 2020
Sales fell by $27 billion among the top 500 chain restaurants in 2020; yet, even during the difficult year, the biggest chains managed to grow their market share.
Technomic’s latest “Top 500 Chain Restaurant Report” found overall sales among these companies decreased by more than 8% compared to 2019. “As many small chains and independent restaurants struggled to simply stay in business over the last year, market share for the industry’s largest chains expanded significantly,” added Kevin Schimpf, senior research manager at Technomic.
- Drive-thru and delivery-centric chains “dominated” in 2020.
- Location closures were “relatively minimal.”
- Sales growth for chicken chains was in the double digits. Could this be a partial result of the “Chicken Sandwich Wars?”
- Not surprisingly, in a year when in-person dining was restricted, no full-service concepts made it into the top 20 of the list.
The report is available for purchase here.