Nation’s Restaurant News On the Go Newsletter #12

What social media can do for you

Hey y’all, Holly Petre here, digital editor for NRN.

Have you ever wondered how to go viral on TikTok? Or even just wondered what the heck TikTok is all about and how to use it? Well, I wrote a piece this week detailing just that, alongside a look at some companies that are really crushing it. The moral of the story? Be genuine and have fun, and viewers will pay attention.

In other news this week, several big brands reported their Q4 and year-end earnings, including the biggest of them all, McDonald’s. Chains across the board saw same-store sales jumps, and that was double digits in the case of McDonald’s and Starbucks. However, that’s mostly driven by inflation, which has gone up 20% since 2018 — or at least that’s what TikTok told me this morning.

On this week’s episode of Extra Serving, Bret Thorn, Alicia Kelso, and I talk about the new KFC wraps that we decided were a good thing for KFC (we also decided that maybe McDonald’s should bring back wraps, as well). You’ll have to check out the podcast feed for that one this weekend. In the meantime, you can watch most of our editors discussing their expectations for 2023 in our latest “In the Mix” video, which you can find linked below.

A primer on TikTok for restaurants

With over one billion users, TikTok seems to be taking over the world. According to Capterra’s 2022 TikTok Marketing Survey, released in January, 78% of small businesses say TikTok ads drive profits — mostly in the first six months. Fifty-three percent of restaurants that market on TikTok said that they would be spending at least 10% more on the platform for advertising in the new year. Seventy-eight percent said they realized positive ROI from the ads they’ve posted on TikTok within the first six months.

HOW CAN RESTAURANTS CREATE VALUABLE TIKTOK CONTENT? READ MORE TO FIND OUT.

McDonald’s increased traffic counts drive strong Q4 results

That McRib Farewell Tour and the Cactus Plant Flea Market collaboration seem to have created quite the buzz for McDonald’s. Well, that and an increasingly uncertain macroenvironment.

The Golden Arches reported Q4 earnings Tuesday morning, including a 10.3% comp sales increase in the U.S. and a traffic increase of 5% systemwide. These numbers topped Wall Street estimates.

READ MORE

Starbucks U.S. sets records for sales, gift cards and mobile app downloads in Q1

Starbucks reported its Q1 fiscal year 2023 results after market close Thursday, including a record-setting holiday season for sales. Founder and outgoing CEO Howard Schultz called the quarterly performance “stunning,” given the softening macroeconomic environment.

READ MORE ON STARBUCKS' EARNINGS

Redefining the Restaurant: How foodservice is expanding its boundaries

For centuries, restaurants were a singular, static place where you physically went to dine out. But in a post-pandemic America, between the on-demand needs of the average consumer and the ever-suffocating margins of the hospitality industry, foodservice companies are knocking down the four walls of the traditional restaurant and taking an omnichannel approach toward becoming active food brands. 

Restaurant brands expanding to delivery and omnichannel accessibility is not new anymore, but they’re now adding new revenue streams in unexpected ways.

READ MORE

Last Chance! Calling all Restaurant Operators

Nation’s Restaurant News is conducting its 2023 Restaurant Operator Technology Survey and we want to hear from you! Join hundreds of other Restaurant Operators, big and small, as they share key feedback on their implementation of technology and how they see technology driving the future of food service. Survey results will be shared as downloadable report and webinar this February – make sure your voice is heard and share your current and future technology roadmap. Don't wait, the survey closes on Monday!

TAKE THE 2023 RESTAURANT OPERATOR TECH SURVEY

In the Mix: 2023 trend predictions, reasons for restaurant optimism, pickleball as a concept & more

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