IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, today announced the launch of the IRI Daily On-Premise Tracking solution. The solution provides restaurant suppliers with daily point-of-sale data drawn from 10,000 restaurants across the country within four days, the fastest delivery speed in the industry. The platform reports critical indices, such as dollars per venue and percentage of sales recovered, enabling restaurant industry suppliers to track restaurant openings and capacity and plan the most effective distribution strategy.
“The COVID-19 pandemic has upended the nearly $800 billion restaurant industry. While restaurants seek recovery, the differing local laws, state mandates, and rapidly changing public health dynamics have made it challenging to track and predict restaurant performance. As a result, suppliers are struggling to develop effective business and distribution strategies,” said Jeanne Livelsberger, executive vice president, IRI Product Management. “To stay on top of this swiftly changing environment, restaurant suppliers need fast, accurate daily reporting on the performance of full-service restaurants. IRI is proud to offer a solution that represents actual consumer spend and enables rapid insights for restaurant suppliers during this critical time.”
Key insights from the Daily On-Premise Tracking Solution for the month of September 2020 include:
- Total U.S. casual and upscale/fine dining venues recovered 54% of pre-COVID sales.
- Casual and upscale/fine dining venues in New Jersey, Texas, and Arizona are showing the most recovery. New York, Ohio, and Washington state are showing the lowest recovery.
- While total restaurant sales are down, the average check size is up. At the total U.S. level, average check size in casual and upscale/fine dining venues is up 14% versus pre-COVID-19.
The IRI Daily On-Premise Tracking solution offers two full-service restaurant segments: casual and upscale/fine dining, representing nearly 40% of the commercial restaurant industry. Data is reported by day and day-part and has been tracked since Jan. 1, 2019, enabling suppliers to compare today’s environment with historical averages. Indices are reported through IRI’s Unify® interface, enabling fast insights and graphic visualization.
For more information about the IRI Daily On-Premise Tracking solution, please contact Cynthia Hlad at firstname.lastname@example.org.
IRI is a leading provider of big data, predictive analytics, and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services, and media companies grow their businesses. A confluence of major external events — a change in consumer buying habits, big data coming into its own, advanced analytics, and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal, and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.
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