Leading brands know that the way you should look at and analyze your data has changed due to the disruption in 2020 due to the pandemic. Do you know what this shift means for your same-store sales? Understandably, we need to look at our numbers a bit differently to gain a clearer understanding of how restaurants are really performing. Download this free guide for an overview of how we are presenting data to help you navigate your numbers in the wake of the pandemic.
What’s in the Guide?
Introducing 2-year metrics
Instead of looking at year-over-year growth, this year you will find more meaningful insights with 2-year metrics, at least for your financial data. This will help give you a clearer picture of how your performance compares to “normal” times, with no dining restrictions or consumer concerns about going out. Looking at your data this way will help you answer “when are we getting back to normal?”
Look at weekly comp sales data for March using year-over-year numbers and compare to 2-year metrics
Using real sales data, see an example of how the data looks with all of the noise filtered out, giving you the ability to draw more meaningful analysis from your numbers.
What metrics need 2-year numbers?
For restaurant operators, comp sales and traffic are your staple when looking at performance. Because you are specifically trying to figure out whether or not your sales are growing, your 2021 year-over-year sales data might not be as meaningful. This is why you should look at 2-year growth instead. But it’s a different story for your guest and workforce data. Discover how you can utilize all of your different metrics to figure out how you are performing across all areas.
How long will we need 2-year numbers?
For consistency, you will likely want to look at data this way for the rest of the year. It will also affect how you look at data moving forward in the years to come so you will want access to both 2-year and year-over-year comp data.