November 2024 National Restaurant Sales Metrics
November 2024's national restaurant sales metrics are in!
Fast Casual had positive sales growth during the beginning of the month and over the Thanksgiving holiday, before ending at -9% compared to November 2023. Full Service also saw positive performance over Thanksgiving, before ending at -4% on a 7-day moving average.
Since Thanksgiving falls on a different date each year, we adjusted that week in the chart below to give a more accurate visual of sales compared to last year. For example, many Fast Casual restaurants were closed for the holiday last year on November 23rd and 24th but were open on those dates this year because Thanksgiving happened later in November. Without the adjustment, the chart would have massive spikes showing 100%+ growth.
Food costs averaged 30% of sales last month, reflecting a slight drop from October's average.
Fresh blueberries topped our Droppers list with prices -27% lower on average than in October, followed by green onions and asparagus. Iceberg lettuce, fresh tomatoes and eggs topped the Movers list, all with +40% price increases from October.
Across the US, November was a mixed bag, but all regions saw around +8% growth over the Thanksgiving holiday.
With Thanksgiving's strong performance, we're looking forward to the December holidays and New Year's Eve! Wishing you all a profitable and safe last month of the year and we'll see you in 2025!