? By Joe Guszkowski and Lisa Jennings | January 16, 2025

? Read the full article on Restaurant Business: 6 Big Takeaways from This Year’s ICR Conference

ICR held its annual investor and media conference in Orlando, bringing together dozens of public and private restaurant companies.

Executives shared insights, strategies, and predictions for the year ahead in the restaurant industry. Here are the six key themes that emerged from the conference.

1️⃣ A More Confident Consumer?

? Economic indicators suggest that consumers are feeling more financially stable.

? Darden CEO Rick Cardenas reported that consumers earning $50,000–$100,000 are returning more frequently after a period of pullback.

✅ Positive signs include:

  • Higher wages
  • Strong employment rates
  • Controlled household debt

However, some leaders remain cautious:

⚠️ Fat Brands Chairman Andy Wiederhorn believes consumers have hit their limit on price increases, making future growth challenging.

“I don’t expect to see an insane amount of growth on the same-store sales basis.” – Logan Powell, CEO of Puttshack

2️⃣ 2025 Will Be Another Year of Value

? Restaurants will continue to focus on value-driven strategies, but it won’t always mean lower prices.

✅ Value is about more than just cost – it’s about experience and portion sizes:

  • Twin Peaks uses 29-degree beer, a wide range of TVs, and its unique atmosphere as its value proposition.
  • Cracker Barrel & LongHorn Steakhouse emphasize generous portions.

“When consumers find value, it’s not always about what you pay. It’s about what you get for what you pay.” – Rick Cardenas, Darden CEO

? Premium-priced items are still performing well:
? Red Robin’s $20 Triple-Decker Gold Medal Burger has seen strong demand, said CMO Kevin Mayer.

3️⃣ Loyalty Programs Are Key to Driving Traffic

? Many brands are turning to loyalty programs to increase customer visits.

? Success stories from revamped loyalty programs:

  • Papa Johns
  • Potbelly
  • Red Robin

? New loyalty launches:

  • Portillo’s introduced its first-ever digital wallet-based loyalty program, offering rewards for frequent visits.

? Next steps: Using loyalty program data to offer personalized promotions and communication.

“It will take another gear of technology to be able to do that. The more you learn that you can do with this, the more you want to do with it.” – Bob Wright, CEO of Potbelly

4️⃣ Wildfires in California Were Top of Mind

? As the conference took place, wildfires in Los Angeles impacted several restaurant chains.

? Companies affected included:

  • El Pollo Loco – Some locations lost power, but no total destruction was reported.
  • Shake Shack – Five locations in Los Angeles temporarily closed due to the fires.

? Restaurants stepped up to support first responders:
✔ El Pollo Loco donated 700+ meals to emergency crews.
✔ Shake Shack provided 2,000+ meals to firefighters, evacuation centers, and law enforcement.
✔ Shake Shack also partnered with World Central Kitchen to aid in relief efforts.

5️⃣ There Is No Offseason for Sports Bars

? The demand for live sports is higher than ever, keeping sports bars busy year-round.

? Previously slow months like July & August now feature:
✅ WNBA games
✅ FIFA’s new Club World Cup
✅ Niche sports like bull riding & cricket

? Tom’s Watch Bar CEO Brooks Schaden emphasized how sports bars are thriving:

“Those white spaces of empty seasons are shrinking and shrinking because people are watching more sports.”

? Sports betting is further driving engagement, making sports bars even more attractive.

? Tom’s Watch Bar highlighted its multiple TV screens, allowing fans to watch several games at once.

6️⃣ The Election Is Over, and Restaurants Are Looking Ahead

? Many restaurant leaders expressed relief that the political uncertainty of the election is behind them.

“Now everybody knows where we’re headed.” – Jeff Uttz, CFO of Kura Sushi

? Key takeaways from industry executives:
✔ Optimism about the Trump administration’s ability to tackle inflation
✔ A hands-off approach to M&A that could encourage more deals

? Industry News & Trends from ICR 2025

? P.F. Chang’s sees up to 2,000 potential locations for its Pagoda Asian Grill fast-casual concept.

? Cracker Barrel is expanding its dinner menu, promoting its Hash Brown Casserole Shepherd’s Pie.

? Authentic Restaurant Brands (owner of Pollo Tropical & Primanti Bros.) is set to announce a fifth acquisition soon.

? Portillo’s self-service kiosks increased ticket size by 15% and same-store sales by 1%, according to CIO Keith Correia.

? Man Vs. Fries, a virtual restaurant brand, is growing rapidly and could be in thousands of locations by the end of the year, per COO Adam Robin.

? Fogo de Chao is testing catering services, with expectations that it could account for 10% of revenue in the future.

? The ONE Group has seen strong franchisee interest in Benihana, particularly from quick-service operators, said CEO Manny Hilario.