Established over 25 years ago, ICR is a global strategic advisory and communications firm. Every year, it hosts the ICR Conference, a “premier investor event for consumer-oriented growth companies.” Private and public companies showcase their prospects and present business strategies to institutional investors, investment bankers, and private equity professionals.
Initially created as a way to gather people together to share ideas, it’s since become the place where investors, analysts, and industry experts explore consumer trends, looking to the year ahead and what it may have in store.
This year, over 2,600 people attended the ICR conference, an invitation-only event that took place in Orlando, FL, from January 13 – 15.
Here, we’ll explore the key takeaways.
Restaurants Attending the 27th Annual ICR Conference
Some restaurants attending the conference included Shake Shack, El Pollo Loco, and First Watch Restaurant Group. Shake Shack announced its plans to expand to 1,500 locations. El Pollo Loco hosted a fireside chat with institutional investors. ONE Group Hospitality, Inc., parent company to STK, Benihana, Kona Grill, and RA Sushi, also hosted a fireside chat.
Presenters included Darden Restaurants, Inc., Texas Roadhouse, Inc., Barfresh Corporation, and Cracker Barrel. Meetings-only restaurants included Noodles & Company, Red Robin, Seaport Entertainment Group, Dave’s Hot Chicken, and Lazy Dog.
For those unfamiliar with Seaport Entertainment Group, it’s a premier hospitality and entertainment company with a unique collection of assets that include The Seaport, Las Vegas Ballpark, and Jean-Georges Management—a group of restaurants offering unforgettable experiences developed by the visionary chef, Jean-Georges Vongerichten.
ICR Insights & Technology
Nation’s Restaurant News shared several positive insights, including less talk about a recession and more cautious optimism. Stability was the keyword, with some restaurants reporting greater than-expected fourth-quarter sales.
Technology continued to make tailwinds, including labor deployment tools and pay-at-the-table technology that uses smartphones or tablets.
NRN quoted William Blair analyst Sharon Zackfia, “Technology continues to be a bigger part of the conversation and we’re seeing more willingness to implement things like kiosks or back of house (solutions) or labor. Not everyone can afford this technology but it’s an advantage and it’s become magnified because of inflation and labor costs.”
Simplicity
Many soothsayers have reported that 2025 is the year of simplicity, a form of minimalism that also focuses on sustainability. Restaurant brands seem to be thinking along the same lines.
From reducing menu items to footprints, simplicity and cutting back were popular topics. Restaurants discussed focusing on their core menu and shrinking footprints to reduce buildout costs. This smaller size also allows brands to enter spaces they would have typically been excluded from.
Loyalty and Compassion
Restaurant Business reported on several restaurant brands that spoke about their involvement in supporting those affected by the Los Angeles fires. Shake Shack delivered over 2,000 meals to fire stations, base camps, and evacuation shelters. They also contributed to the World Central Kitchen, which distributed hot meals to first responders and the public at numerous locations.
Former Vice President Kamal Harris and Jennifer Garner were a few of the many well-known people who joined WCK’s efforts. El Pollo Loco provided more than 700 meals to emergency crews.
Another hot topic was loyalty programs as a way to drive traffic. Portillo’s first-ever loyalty program is found in mobile wallets. Papa Johns and Red Robin, brands that recently revamped their loyalty programs, reported good results.
At EMERGING Fund, our tagline, “Technology disrupting operations and accelerating concept innovation,” is proving true. When technology combines with entertainment, that acceleration is unparalleled. As investors in some of the hottest brands in the eatertainment sector, we anticipate an incredible 2025.
To learn more about our innovative portfolio and one of the largest acceleration platforms, contact EMERGING Fund.
