The National Restaurant Association (NRA) projects that US restaurants in 2016 will post sales of $782.7 billion
Restaurant Association presents 2016 US Industry Sales Forecast and Trends
The National Restaurant Association projects that US restaurants in 2016 will post sales of $782.7 billion and employ 14.4 million people in more than 1 million locations.
Released today, the 2016 Restaurant Industry Forecast reveals that the U.S. restaurant industry will remain the nation’s second-largest private sector employer, providing career opportunities for 1in 10 working Americans.
Hudson Riehle, Senior Vice President of Research for the National Restaurant Association:
“Though the overall economy is trending in the right direction, the operating environment isn’t without challenges going into 2016,”
“With overall tightening in some labor markets, we’re seeing recruitment and retention making a comeback as a top challenge for restaurant operators.”
Top restaurant industry trends for 2016
Not all smooth sailing
Not all smooth sailing.
From legislative and regulatory pressures and moderate economic growth, to labor cost increases and cybersecurity, both new and old issues will challenge profit margins and muddle operating procedures.
Labor pool is getting shallower
Labor pool is getting shallower.
Workforce demographics are shifting to include a greater proportion of older workers while the younger labor pool is shrinking.
Everybody’s business
Everybody’s business.
The restaurant industry is home to a growing number of women-owned and minority-owned businesses, where many current owners started their restaurant careers at entry level. Eating-and-drinking-place firms owned by women and minorities continue to grow at a faster rate than the overall industry.
Moderate sales growth
Moderate sales growth.
The long-term trend of quickservice sales growth outpacing tableservice sales growth will also maintain its momentum, along with strong growth of snack and nonalcoholic beverage bars.
Technology growing pains
Technology growing pains.
However, two in five consumers say that technology makes restaurant visits and ordering more complicated, indicating that perhaps not all these new systems are as user-friendly as they could be. Restaurants will be focusing on closing that divide in the year ahead.
Mobile payment gaining acceptance
Mobile payment gaining acceptance.
Although a majority of consumers remain on the fence about paying for meals via smartphone, a growing number say they would use – or are already using – that option when available, and the trend is expected to keep its trajectory through 2016.
American foodie 2.0
American foodie 2.0.
Restaurant operators say guests have higher expectations of their dining experience and pay more attention to everything from diet-specific food, to sustainability, to food sourcing and production than even just two years ago.
Operators will carefully balance how to cater to these precise tastes without becoming too niche or alienating more mature guests.
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