New Technomic foodservice index represents continued decline in January, dropping to 93.3 due to the omicron variant

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Technomic's TIndex reveals continued softness within almost all segments

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Feb 25, 2022, 10:30 ET

CHICAGO, Feb. 25, 2022 /PRNewswire/ -- Each month, Technomic releases its TIndex, which showcases the index on the total U.S. foodservice industry. January's number continued the decline from previous months, dropping to 93.3, down from 95.9 in December and 97.2 in November. Based on this data, the industry is down 6.7% over a two-year basis but has grown by 11.1% compared to January 2021.

"The main reason for this continued downward slide is the lingering effect of the COVID-19 omicron variant," explains Joe Pawlak, managing principal at Technomic. "The new variant resulted in slower sales within almost all segments starting in mid-December and continuing throughout January."

Past TIndex releases:

January 2022 (current): 93.3
December 2021: 95.9
November 2021: 97.2

TIndex is Technomic's index on the total U.S. industry, reported monthly, comparing performance to the same month in 2019. TIndex includes inflation and allows for industry growth analysis on a year-over-year basis for the same month. It offers a unique way to track the foodservice industry, built using a variety of data sets, including operator transaction, consumer visit tracking and distributor sales information. The data is then weighted and evaluated to align with a representation of the total foodservice industry.

Bookmark this webpage to get the latest TIndex at the end of every month: https://www.technomic.com/about/markets

Press inquiries: [email protected]

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, as well as 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.

SOURCE Technomic