By 2018, spending on food away from home will exceed food at home spending for the first time! This is the surprising conclusion in a new report from Rabobank’s global Food & Agribusiness Research and Advisory group that looked at the growth of the quick-service restaurant sector in the U.S.
In the report, analyst Nicolas Fereday charts the remarkable resilience and robustness of the U.S. restaurant industry in recent years, noting that the industry’s contribution to the nation’s GDP exceeds that of food manufacturing. Although there was a temporary emphasis on eating more at home during the 2007-2009 recession, consumers’ growing preference is to eat out versus eating at home. And quick serve restaurants are leading the way.
Many quick serves have adopted a number of winning strategies to sustain their growth during this rocky economy. Giving consumers what they want seems to be the key to success. Responding to longer-term lifestyle changes and emerging trends toward healthy eating options and premium coffee, have positioned many quick serves at the front of the pack. Owners are employing menu diversification, improving the look and feel of their restaurants, branching out into more eating occasions, and improving the quality of the dining experience to ensure their survival and success. In this economy fast casuals restaurants seem to have what the consumer is looking for – the convenience and relative cheapness of fast food with a higher-quality dining experience.
How are you preparing to take advantage of this growing trend by the American consumer to eat out? Pinnacle Hospitably Solutions has been in the business for over 20 years; leading the way for restaurant profitability. Our success is attributed to our ability to provide restaurateurs with tailored business solutions that help maximize profitability by increasing productivity, controlling expenses and managing loss prevention. Whether you are a full-service restaurant, quick serve, or a fast casual establishment Pinnacle has the restaurant software solutions you need. Pinnacle Hospitality Solutions offers restaurant software programs, POSitouch and Dinerware that integrate your point of sales system, accounting, credit authorization, online ordering, and inventory in a single easy to use interface that makes daily operations a seamless service from start to finish. For more information, contact Pinnacle at 800-771-7100 today.