By the Numbers: Breaking Down Q1 at QSRs
5 Min Read By MRM Staff
Numbers tell a story, and for QSRs the first-quarter numbers were tough, according to RMS. The story is that traffic was down 3.5 percent compared to Q1 2023, though sales were (barely) positive, at a 0.8 percent YOY increase. Average check is up YOY (+4.5 percent) as is Average Price, at +4.0 percent YOY. The rate of price increases has stabilized after nearly a year of declines, which could be attributed to minimum wage laws in California, among other factors.
Â
Speaking of California, the state ranks third in overall burger price in the US (including full and quick service). A few highlights from RMS’ price map for last month:Â
The average price of a burger in California is $7.16, compared to the US average of $6.49 An average chicken sandwich costs $6.23 compared to the $5.71 average The average pizza costs $18.07 compared to the US average of $15.47When looking at dayparts, dinner was the winner.
Dinner traffic decreased by -1.4 percent compared to Q1…
Sorry, You've Reached Your Article Limit.
Register for free with our site to get unlimited articles.
Already registered? Sign in!