April 11, 2024
As Panera Bread is in the midst of a major brand transformation, traffic for the St. Louis-based company is up 5.2% year-over-year, according to recent data from Placer.AI — it’s biggest traffic growth spurt in almost a year, since a 10.8% jump last March.
While Panera originally made its mark by offering freshly baked bread and other bakery goods — and later on, used ethical sourcing and “clean” ingredients as an industry differentiator – the fast-casual brand has recently changed its outlook.
As Panera looks to “get back to its roots” ahead of a near-future IPO, the company recently introduced a menu transformation, while allegedly simultaneously axing about 19% of the menu, including flatbreads, grain bowls, select pastry items and cold brews, and more. Additionally, the company has quietly rolled back some of its ethical sourcing practices to allow for “judicious use of antibiotics” and ease supply chain pressures. At the same time, Panera is still grappling with several lawsuits surrounding Panera customers that died allegedly after consuming highly caffeinated lemonade energy drinks.
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