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A "location closed" sign hangs in the window of a closed Red Lobster restaurant in Torrance, California on May 14, 2024. Here are the winners and losers of the restaurant industry in 2024:WINNER: ValueValue became restaurant CEOs' new favorite word this year as they sought to reverse falling sales and appeal to inflation-weary consumers. The privately held chain, known for its chicken tenders, is the fourth-largest chicken chain in the U.S., with a market share of 7.8%, according to Barclays. The chain could soon overtake KFC, the rare chicken chain that's struggled to resonate with U.S. consumers this year. Scott Olson | Getty ImagesThose chicken chains are stealing market share from burgers.
Persons: Patrick T, Fallon, Jennifer Jennings, RJ Hottovy, McDonald's, David Portalatin, Circana, Michael Zuccaro, Hottovy, Mookie Betts, Phillip Faraone, Scott Olson, Burger, Gordon Haskett, Burger King, Josh Kobza, Wendy's, Spongebob, Patty, Taco Bell, Paul Weaver, Yum, Selena Gomez's, Brian Niccol, Circana's, Roti, John Bringardner, Chipotle's, Chipotle, Scott Boatwright, Niccol, Piper Sandler, BTIG, Wingstop, They've, Circana's Portalatin, Chili's, Brinker, Kevin Hochman, Applebee's, Olive Organizations: AFP, Getty, Labor, Intelligence, Debtwire, CNBC, Yum Brands, Bell, LA Dodgers, Barclays, KFC, Rivals, for Disease Control, Prevention, Gordon Haskett Research, Burger King, Restaurant, Burger King's, Wolfe Research, Taco Bell, Taco, Starbucks, Street, Niccol, Dine Brands, Olive Garden, Darden, Brinker International, Triple Locations: Torrance , California, Tulsa , Oklahoma, Cane’s, Alhambra , California, U.S, Effingham , Illinois, Burger King's U.S, San Diego, Niccol, Wall, Texas, Olive
AdvertisementTaylor Swift's "Eras Tour" book sold 814,000 copies in its first weekend. Taylor Swift's "The Eras Tour" book has become the second-best-selling non-fiction title after Barack Obama's presidential memoir. Despite only selling through one retailer, the "Eras" book was the biggest book launch of 2024. According to Circana BookScan, which tracks publishing sales, the book sold 814,000 copies after hitting shelves over Black Friday weekend. Part one of Obama's memoir sold 816,000 copies in its first week when was published in November 2020.
Persons: Taylor, Barack Obama's, Circana, Taylor Swift, Swift Organizations: Target, Poets Department, Associated Press, AMC, Hollywood, Spotify
Adults accounted for 17.3% of US toy sales in 2023, totaling $6.7 billion, per Circana. Research shows that while overall toy sales are in decline in the US, sales driven by nostalgic adults are on the rise. AdvertisementAccording to Circana's data, despite an 8% overall drop in toy sales last year, adult purchases have stayed robust. The group said that US adults spent over $1.5 billion on toys and games in the first quarter of 2024 alone. A Circana report from June on the US toy industry described adults as the "most important age group" for the industry going forward.
Persons: Frédérique Tutt, Tutt, Steve Totzke, Barbie Organizations: Research, BI, Star, Los Angeles Times Locations: Europe, Asia, Japan, South Korea
Beauty is known for making viral, lower-priced makeup products and promoting them on platforms like TikTok and Roblox. Besides Roblox, E.l.f. According to Circana's 2023 Makeup Consumer report, Twitch is a small but growing platform for driving makeup sales. Larissa Jensen, VP and global beauty industry advisor at research firm Circana, said that TikTok is a major driver in driving makeup sales. Fifty-two percent of makeup wearers said TikTok influenced their makeup purchases compared to 45% of makeup wearers who said that Instagram influenced their makeup purchases.
Persons: Laurie Lam, Lam, Twitch, TikTok, TikTokers, Larissa Jensen, Instagram, Jennifer Coolidge, Mike White, Coolidge Organizations: longtime L'Oreal, Business, Bowl, TV Locations: E.l.f
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