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State of Business Dining Report, Q4 | 2022
Our State of Business Dining Report, created in partnership with Technomic Inc, provides a quarterly review of restaurant benchmarks and data.
What you’ll learn:
- How inflation and the economy impact consumers and business diners differently.
- Meeting and event trends. Plus, tips on targeting event planners and other corporate dining decision-makers.
- What other factors, like sustainability, are impacting business dining policies and behaviors
- Comparisons between business and consumer dining spend
- Benchmark spend data by market, industry, and restaurant type
Business vs Consumer Dining
Our BDIndex in combination with Technomic’s TIndex shows how business dining fared against the general industry.
Business dining took a bigger hit during COVID and the TIndex bounced back more quickly; however, the BDIndex has seen greater gains in recent quarters.
- By Q3 2022, the BDIndex nearly tripled compared to its lowest point (in Q2 2020).
- By contrast, consumer spend rose 64% during the same period.
- Both saw modest gains in the first three quarters of 2022.
- The BDIndex recovery is driven largely by a rebound in business travel. In a recent GBTA survey, 86% of travel managers said non-essential domestic travel is now allowed at their company.
Top Trend: Private Dining and Meeting Spend Surges
As remote work persists, companies are increasingly meeting offsite — often at restaurants — to build culture. Learn how to reach them and what to expect in Q4.
- Offsite meetings are predicted to reach 72% of 2019 levels by EOY 2022.
- In 2023, offsite meetings are predicted to exceed pre-COVID numbers.
- 47.5% is the average US office occupancy rate.
- 65% of meeting and event planners expect meeting spend to increase.
Methodology
In order to offer statistically significant sales insights for the State of Business Dining, we analyzed the following data:
- Companies that participated in the Dinova program from 2019-2022.
- Sales data from the top 1,500 US restaurant brands. Top restaurant brands may change for individual reports, but indexes are updated so that all historical data represents current list of top 1,500 brands.
- More than 5 years of pre-pandemic business dining sales data to inform annual patterns.
About Dinova
Dinova makes business meals count. We operate a business dining program that includes a network of 21,000+ restaurants and more than 500 corporations, government agencies, and small to medium sized businesses in the US and Canada.
We are the only total business dining solution that delivers spend visibility, savings and an employee rewards program for companies while also providing a B2B strategy that drives growth for restaurants.
Complete our contact form to learn more about joining our business dining program.
About Technomic
Technomic Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic’s services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking and other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.
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What business dining trends should you expect for your specific region or restaurant category? Complete the form to learn more and download the report.
