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Visits to Wendy’s during the Midday (11AM-3PM) account for the largest share of traffic at the QSR, comprising ~33% of total visits over the past three years according to Earnest foot traffic data. However, Late-Night (10Pm-1AM) trips to Wendy’s represented 10% of total visits in July 2023, up 100bps from 9% in the prior year. This higher Late-Night daypart penetration comes as Wendy’s management recently highlighted plans to promote its late-night business in order to capitalize on a broader QSR trend, drive incremental sales growth, and improve profitability.
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Wendy’s management also noted the Late-Night daypart had higher average ticket sizes, which supported its decision to extend restaurant hours across the majority of its system. Earnest Analytics’ Orion transaction data indicated Wendy’s average ticket size, including taxes and fees, increased 6% YoY to $16.25 in July 2023, the highest level observed in the data.
