The global foodservice industry experienced a 29% drop in company filings mentions of digitalization in Q1 2024 compared with the previous quarter, with the highest share accounted for by Yum China with 48% year-on-year decrease, according to GlobalData’s analysis of over 63 foodservice company filings. GlobalData’s Foodservice: Filings Trends & Signals Q1 2024 report delves into earnings call transcripts and quarterly reports within the foodservice industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
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Notably, digitalization was one of the most frequently referenced themes in Q1 2024, ranking highest in terms of mentions, ahead of Covid-19 and future of work, according to GlobalData.
Of the top leading companies in the foodservice industry, Yum China had the greatest increase in references for digitalization in Q1 2024, compared with the previous quarter. GlobalData identified 39 digitalization-related sentences in the company's filings - 1% of all sentences - and a decrease of 48% in Q1 2024 compared with Q1 2023. McDonald's’s mentions of digitalization rose by 41% to 31 and Texas Roadhouse’s by 200% to 18 and Restaurant Brands International’s by 7% to 13 and DoorDash’s by 22% to 11.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for digitalization in Q1 2024 was 108.
For further understanding of GlobalData's Foodservice: Filings Trends & Signals Q1 2024, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.
