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Description

Description

"The restaurant industry is expected to maintain strong growth in 2019 thanks to positive economic conditions and increased incremental sales across segments fueled by a demand for off-premise dining. Dining out is a favorite activity for Americans and personal as diners have an increasing desire to form a connection with restaurant brands with cultural, environmental and social values that align with their own lifestyle."
- Hannah Spencer, Foodservice Analyst

This report looks at the following areas:

  • FSR segment experiences slowed growth
  • Cooking at home is restaurants’ biggest competition

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Overview
          • The issues
            • FSR segment experiences slowed growth
              • Figure 1: Total US revenues and forecast of restaurants and eating places*, by segment, at current prices, 2018 and 2023
            • Cooking at home is restaurants’ biggest competition
              • Figure 2: Planned dining out behavior for 2019, October 2018
            • The opportunities
              • Americans love dining out
                • Figure 3: Restaurant attitudes, October 2018
              • Diners want restaurants to serve the greater good
                • Figure 4: Areas of concentration for restaurants – Net any rank, October 2018
              • What it means
              • The Market – What You Need to Know

                • Restaurant revenues expected to grow, fueled by rising costs
                  • FSR segment experiences slowed growth
                    • Grocery delivery offers new competition for prepared meals
                    • Market Size and Forecast

                      • Restaurant revenues expected to grow in 2019
                        • Figure 5: Total US revenues and fan chart forecast of restaurants and eating places*, at current prices, 2013-23
                        • Figure 6: Total US revenues and forecast of restaurants and eating places*, at current prices, 2013-23
                    • Market Breakdown

                      • LSR segment growth will outperform FSR segment
                        • Figure 7: Total US revenues and fan chart forecast of full-service restaurants, at current prices, 2013-23
                        • Figure 8: Total US revenues and forecast of full-service restaurants, at current prices, 2013-23
                        • Figure 9: Total US revenues and fan chart forecast of limited-service eating places*, at current prices, 2013-23
                        • Figure 10: Total US revenues and forecast of limited-service eating places*, at current prices, 2013-23
                        • Figure 11: Total US revenues and forecast of restaurants and eating places*, by segment, at current prices, 2018 and 2023
                    • Market Perspective

                      • More meal kit options become available
                        • Online grocery retailers deliver prepared meals
                          • Figure 12: Total us online sales of groceries*, at current prices, 2013-18
                      • Market Factors

                        • At-home sales continue to grow
                          • Figure 13: BEA food and non-alcoholic beverage sales at home and away from home, January 2010-September 2018
                        • Positive economic conditions ahead
                          • Figure 14: Consumer sentiment index, January 2007- August 2018
                        • Consumers have more discretionary funds
                          • Figure 15: Disposable Personal Income change from previous period, January 2007-July 2018
                      • Key Trends– What You Need to Know

                        • Restaurants become lifestyle brands
                          • Not all consumers are interested in more ordering options
                            • Restaurants do more for employees and the Earth
                            • What’s Working?

                              • Off-premise dining helps casual dining restaurants boost sales
                                • More than half of consumers plan on using mobile-to-go order and pickup
                                  • Customers define their relationship with restaurants
                                    • Figure 16: Brand posts engagement across all social channels
                                • What’s Struggling?

                                  • Labor market is tightening
                                    • Figure 17: Unemployment and underemployment, January 2007-January 2018
                                  • Kiosk ordering is not appealing to all customers
                                  • What’s Next?

                                    • Restaurants focus on sustaining good environmental practices
                                    • The Consumer – What You Need to Know

                                      • Dining out is a favorite activity
                                        • Consumer interest in FSRs differs from LSRs
                                          • Doing good is important to diners
                                          • Restaurant Visitation

                                            • Fast food restaurants are most visited
                                              • Figure 18: Restaurant visitation in the past three months, October 2018
                                              • Figure 19: Restaurant segment visitation in the past three months, October 2018
                                            • Generational differences play a key role in restaurant visitation
                                              • Figure 20: Restaurant visitation in the past three months, by generation, October 2018
                                            • Higher household income customers more interested in premium dining options
                                              • Figure 21: Restaurant visitation in the past three months, by household income, October 2018
                                            • Parents are top restaurant-goers
                                              • Figure 22: Restaurant visitation in the past three months, by parental status by gender, October 2018
                                              • Figure 23: Breakfast/brunch beverages of interest – Coffee, April 2018
                                            • Black customers are top fast food restaurant visitors
                                              • Figure 24: Restaurant visitation in the past three months, by Race and Hispanic origin, October 2018
                                              • Figure 25: Adventurous eater segmentation by race, July 2018
                                            • Regional differences are a factor in restaurant visitation
                                              • Figure 26: Restaurant visitation in the past three months, by region, October 2018
                                          • Restaurant Segment Preferences

                                            • Customer expectations differ across restaurant segments
                                              • Figure 27: Restaurant segment preferences, October 2018
                                            • Asian consumers are interested in shareable plates
                                              • Figure 28: Restaurant segment preferences – LSRs, by race/Hispanic origin, October 2018
                                            • Younger consumers desire greater ingredient transparency from LSRs
                                              • Figure 29: Restaurant segment preferences – LSRs, by gender/age, October 2018
                                            • Younger consumers are interested in greater drink selection and specials at FSRs
                                              • Figure 30: Restaurant segment preferences – FSRs, by gender and age, October 2018
                                            • iGens are interested in posting about dining experiences on social media
                                              • Figure 31: Restaurant Segment preferences – coffee/tea shops, by generation, October 2018
                                              • Figure 32: Consumer sentiment by mentions of Instagram-worthy décor and restaurants
                                          • Restaurant Behaviors

                                            • Restaurants must be inclusive of all customer needs
                                              • Figure 33: Restaurant behaviors, October 2018
                                              • Figure 34: Restaurant behaviors by restaurant segment visitation, October 2018
                                            • Price drives restaurant selection for younger consumers
                                              • Figure 35: Restaurant Behaviors, by generation, October 2018
                                            • Menu nutrition information factors into restaurant selection
                                              • Figure 36: Restaurant behaviors, by generation, October 2018
                                            • Lower-income households desire convenience and more cash payment options
                                              • Figure 37: Restaurant Behaviors, by household income, October 2018
                                            • Appeal to Black and Hispanic consumers with prepared snack options
                                              • Figure 38: Restaurant Behaviors, by race & Hispanic origin, October 2018
                                          • Restaurant Attitudes

                                            • Dining out is a favorite activity for consumers
                                              • Figure 39: Restaurant Attitudes, October 2018
                                            • Urban consumers view restaurant spending differently
                                              • Figure 40: Restaurant Attitudes, by area, October 2018
                                            • Younger generations have a personal connection to restaurants
                                              • Figure 41: Restaurant Attitudes, by generation, October 2018
                                            • Asian and Hispanic consumers prefer to spend money on dining out
                                              • Figure 42: Restaurant Attitudes, by race & Hispanic origin, October 2018
                                          • Planned Dining Out Behavior for 2019

                                            • Dining out remains a top social occasion for consumers
                                              • Figure 43: Planned dining out behavior for 2019, October 2018
                                            • Almost one fourth of iGens plan to visit LSRs less often in 2019
                                              • Figure 44: Planned dining out behavior for 2019- Visit limited service restaurants, by generation, October 2018
                                              • Figure 45: Planned dining out behavior for 2019 – visit full service restaurants, by generation, October 2018
                                            • Parents plan to dine out more often in 2019
                                              • Figure 46: Planned dining out behavior for 2019 – dine out with friends and family, by parental status and gender, October 2018
                                            • Ordering technology is mostly used by younger consumers
                                              • Figure 47: Planned dining out behavior for 2019 – mobile ordering and pickup, by generation, October 2018
                                              • Figure 48: Planned dining out behavior for 2019-third-party delivery company usage, by generation, October 2018
                                          • Areas of Concentration for Restaurants

                                            • Consumers want restaurants to do good
                                              • Figure 49: Areas of Concentration for Restaurants, October 2018
                                            • Delivery important to younger consumers
                                              • Figure 50: Areas of Concentration for Restaurants- More Delivery options, by generation, October 2018
                                              • Figure 51: Restaurant delivery & carry out net usage in the past three months, by generation, September 2018
                                            • Sustainable packaging of special interest to older generations
                                              • Figure 52: Areas of Concentration for Restaurants – less packaging waste, by generation, October 2018
                                            • Social media is more important to younger generations
                                              • Figure 53: Areas of Concentration for Restaurants – social media engagement with customers, by generation, October 2018
                                          • Appendix – Data Sources and Abbreviations

                                            • Data sources
                                              • Sales data
                                                • Fan chart forecast
                                                  • Consumer survey data
                                                    • Consumer qualitative research
                                                      • Abbreviations and terms
                                                        • Abbreviations
                                                          • Terms

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