Black Box Intelligence™

🚨JUST IN: A first look at Black Box Intelligence's latest restaurant industry insights. 💡🍽️ #RestaurantIndustry #RestaurantData #RestaurantOwnersUSA #USArestaurants

❌ Myth: CX analysis is too abstract to measure at scale, and ends up being more about guesswork and fuzzy feelings, so isn't really worth the dedicated focus it needs to drive change. ✔Fact: CX analysis can be a data-driven discipline that can help brands conquer the market and ensure lasting success: 🎭In 2023, brands that improved their overall net sentiment scores YoY (an NNS is the difference between the percentage positive and percentage negative online reviews) experienced a 0.1% increase in sales and a 0.1% drop in traffic growth. Those with declining sentiment experienced a 0.6% drop in traffic and a 0.4% drop in sales growth. 📈Full-service restaurants with the highest traffic growth in Q1 2024 had 5% better food, 5% better service, and 7% better value NSSs than those with lower traffic growth. Limited service with the highest traffic growth had 2% better food, 1% better service, and 11% better value NSSs. 💪In 2023, full-service brands with stronger hospitality sentiment than competitors had 2.4% higher sales and 1.8% higher traffic growth. 💫Brands that improved their average star ratings in 2023 had, on average, 4 percentage points higher sales and 3.4 percentage points higher traffic growth than those that experienced a decline. Don't miss the details—link to our latest article in the comments section ⬇

If there’s one person who know’s what’s up, it’s Paul M. De Luca… Join us!

🌟Employee Spotlight Alert!🌟 At Black Box Intelligence, we believe in celebrating our incredible team members and getting to know them on a deeper level. Every month, we spotlight two of our employees so we and you can get to know them better. In our first spotlight for this month, meet Seth Bennett!

🔥Hot off the press🔥 April 2024 Out of the Box Restaurant industry insights: 📈Check & sales growth: April's 3.0% YoY check growth, up from March and Feb., was the main driver behind April's sales gains (which stood at 0.6%, a 0.5 percentage point increase from March). 👥 Traffic growth: YoY traffic growth was -2.3% in April, only 0.1 percentage points stronger than March’s. ☹️ Consumers feeling the pinch: The personal savings rate is 2% below 2023, and the delinquency rate on credit card loans increased from 2.45% in Q1 2023 to 3.16% in Q1 2024 (a rate not seen since the Great Recession). 📐Size advantage: Larger brands have been outpacing smaller competitors by about 3% in YoY traffic growth, thanks to bigger marketing budgets and better price negotiations. 💸 Raising menu prices is risky business: If brands have no choice but to increase prices, they must enhance other aspects of the value equation—or risk losing out in the long term. Read our full analysis (link in comments).

📢 Client Shout-Out: Denny's 🌟 Denny's serves as a testament to the power of data-driven strategies, and their ongoing commitment to both employee and customer satisfaction has helped propel the brand to the forefront of their segment. Thank you, Denny's, for being our valued customer! 💜

🌟Employee Spotlight Alert!🌟 At Black Box Intelligence, we believe in celebrating our incredible team members and getting to know them on a deeper level. Every month, we spotlight two of our employees so we and you can get to know them better! In our second spotlight for this month, meet Jonathan Munoz. Jonathan, thank you for being an invaluable member of the BBI team!  

We always love to share our expert insights with the industry to help guide smarter decisions and more growth for restaurateurs! 👉 Our VP of Insights & Knowledge Victor Fernandez had the pleasure of joining Jonathan Maze, Editor-in-Chief of Restaurant Business Online and host of "A Deeper Dive" podcast, for an in-depth discussion on what's shaping the future of the restaurant industry live from the National Restaurant Association Show in Chicago earlier this week. 🎙 Stay tuned for the episode—coming soon: https://lnkd.in/gXABxJB5

🌟 Client Spotlight: Twin Peaks Restaurants 🌟 We're thrilled to spotlight our amazing client, Twin Peaks! 🏆 Thank you, Twin Peaks, for being our valued customer and consistently setting the bar high in the industry! Your commitment to delivering award-winning experiences daily is truly inspiring. Keep leading the way! 🚀 #TwinPeaksRestaurants #CustomerAppreciation #HospitalityExcellence #IndustryLeaders

🚨 FYI: A sneak peek at some of Black Box Intelligence's latest restaurant industry data.