Technomic Revises 2010 Restaurant Industry Forecast Slightly Downward
Chicago, IL, January 25, 2010, Business Wire – Citing continued concern over job losses, underemployment and continued consumer frugality in dining away from home, Technomic revised its 2010 U.S. foodservice industry sales forecast downward. Technomic now expects the industry to decline 1.6 percent, down from the 0.8 percent decline it had previously estimated. While the forecast remained unchanged for most foodservice segments, weaker than anticipated sales in major areas including fast food, business dining, and vending segments prompted the downward adjustment for the overall industry.
In comments first delivered to clients at its Foodservice Planning Programmeeting, Technomic acknowledged that some segments will outperform the industry at large, most notably education, supermarket foodservice and healthcare.
Still, all segments will continue to contend with a foodservice environment that will remain challenging throughout 2010. "Given current dynamics among consumers, we don't see the industry returning to the sales levels it previously enjoyed until 2011 or even early 2012," said David Henkes, Technomic vice president. "With demand remaining weak and bundled deals and promotions driving down check averages, topline sales growth among foodservice operators won’t bounce back quickly."
Additional details on Technomic’s current forecast for all major U.S. foodservice segments can be viewed at their web site, or by contacting Technomic at 312-876-0004.