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Biography

Rich Shank

Since joining Technomic in 2010, Rich Shank, senior principal and vice president, innovation, has led the growth of Technomic’s proprietary consumer research practice. He has conducted a diverse number of studies that span from consumer journeys and segmentation to menu optimization and pricing analysis. In his time at Technomic, he has been instrumental in launching our Ignite consumer brand tracking service, our concept testing product and our restaurant pricing practice.

Rich has more than 20 years of industry and academic research experience that spans the long-term care, mental health services, distribution and foodservice markets. He has a Master of Arts degree in sociology from Rutgers, The State University of New Jersey. He earned dual Bachelor of Arts degrees in psychology and sociology from Indiana University-Purdue University at Indianapolis.

Articles by
Rich Shank

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Financing

Why would Roark Capital buy Subway?

Technomic's Take: The sandwich chain has been shedding locations since 2016. But the brand may be poised for a sustained turnaround.

Financing

Let Threads' weak introduction be a lesson in your tech innovation

Technomic's Take: Putting out a minimally viable product may be easier on the pocketbook, but not being ready for prime time may cost you a lot more.

Technology

Consumer acceptance of robotics and automation in restaurants is spotty at best

Technomic's Take: Labor has been a perennial problem for the industry and automation could help. But consumers are skeptical. And the cost is substantial.

Financing

Want a higher average check? Get diners to stay longer

Technomic's Take: Diners, even if they're alone, tend to spend more the longer they stay at a restaurant.

Operations

Restaurants of the not-so-distant future are coming

Technomic's Take: Regulatory requirements, ESG goals and local weather patterns will be the key drivers of major innovation in these restaurants.

Financing

An appreciation for Don Fox

Technomic's Take: The outgoing chief executive of Firehouse Subs had an impact with his data-driven leadership and his willingness to be a mentor.

Financing

Eat a fine-dining meal in the car? It's more common than you think

Technomic's Take: In assessing off-premises dining, there are some surprising results, including an increase in consumers eating meals from fine-dining restaurants in their cars.

Financing

Restaurants were resilient yet again in 2022

Technomic's Take: Large chain traffic growth is returning to pre-pandemic patterns, with expectations looking more like 2019 than 2021.

Technology

Grubhub makes the smart move toward restaurant direct ordering

Technomic's Take: Relenting on fees and providing a restaurant direct ordering funnel may be a key stop in an evolution toward a unified third-party delivery ordering marketplace.

Financing

Are plant-based meats a fad, trend or niche?

Technomic's Take: The growth potential for alternative meats has always been more limited than many people thought. But they are not going away from restaurant menus, either.

Technology

Automation is an attractive but risky business, so plan accordingly

Technomic's Take: Artificial intelligence and automation have been all the rage since the pandemic. But the technology still carries risks.

Financing

Why consumers are sourcing more holiday meals from restaurants

Technomic's Take: Preparing holiday meals is a lot of work, as our parents experienced. It's why so many Americans now go to restaurants for part of their meal options.

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