IPads, kale chips, Bean boots, Taylor Swift’s new album: these are selling like hotcakes. Pancakes? Not so much.
Pancake sales are tough to pin down.
We visit IHOP, pull Eggos out of the freezer, add oil and water to boxed mixes, and sometimes even sift flour and crack eggs for homemade. In the industry, they look at the total picture and call it the ‘pancake experience.’ And when you add it all together, the pancake experience has been pretty flat for years.
It’s the rare household that makes pancakes from scratch. You’ll find a box of pancake mix in two-thirds of American kitchens, but it’s probably just whiling away the months until its expiration date. Annual household spending on pancake mixes is a mere $1.16, which adds up to a single new box about every three years. The frozen category is the only bright spot in home pancakes.
We still like a good restaurant pancake. We just wish that Chipotle would put them on the menu.
IHOP, with more than 1,500 locations, is the top chain in its category, but customers are increasingly abandoning the whole category. The top five traditional family dining chains (by sales) are IHOP, Denny’s, Cracker Barrel, Waffle House, and Bob Evans Restaurants. Every one of them is in the pancake business. Diners have been shifting to the new category of fast-casual restaurants where the top five brands are Panera, Chipotle, Panda Express, Jimmy John’s, and Five Guys. There’s not a pancake in sight at any of them, unless you want to count the scallion pancake-filled orange chicken wrap at Panda Express.
Don’t blame this one on the gluten police.
We flip over carb-heavy fads like ramen and cronuts, and trendy cupcakes, mac and cheese, and craft beers are still going strong, while pancakes are falling behind.
Hotcakes: these days they’re selling like sweetbreads.