Restaurant Industry Statistics and Trends in 2018
1. The restaurant industry is still growing, expecting a 3 - 4% industry growth in 2018. In 2017 the restaurant industry hit nearly $800 billion in total revenue, in addition to accounting for nearly 10% of America's workforce. The average restaurant owner's salary is $79,222. Saying that "90% of restaurant businesses fail" is a fictitious statement at best!
2. Over 80% of restaurants are turning to technology–like online reservations, online ordering, and restaurant analytics–now more than ever to help them run their business successfully and efficiently.
Although restaurants don't fall into your typical eCommerce style website, an online ordering system can lead to converting more sales significantly. Neglecting this segment of potential revenue is ill-advised!
3. 6% of the total orders made in restaurants are placed via a smart phone or app. This includes online delivery and take-out orders. Meaning $48,000,000,000 of online orders were placed last year!
4. 8 in 10 restaurant owners started their industry careers in entry-level positions, according to the National Restaurant Association.
5. 34% of diners say they usually pay up to $50 per order when ordering food online. The average spend per person in a full-service restaurant averages $16–30.
6. 65% of restaurant guests prefer to control how much they tip, as opposed to adopting auto-gratuities or the tip-free movement. Looks like tipping isn’t going away anytime soon.
7. 32% of all restaurants currently accept mobile payments. 49% of restaurateurs value mobile payment options for their guests as a must-have restaurant technology, such as accepting Apple Pay or Android Pay.
8. 76% of restaurateurs are looking for labor management tools in their restaurant point of sale system. Mobile technology is also being used to manage employee scheduling.
When restaurateurs publish weekly schedules directly to their employees’ devices, the scheduling process becomes simpler, communication becomes streamlined, and the margin for error drastically decreases.
9. 3 in 10 restaurateurs cite staffing as a challenge, still, with a hiring crisis and employee turnover as a persistent problem for the industry.
10. 70% of restaurant guests are looking for healthy restaurant menu options, in addition to sustainability and authenticity. Consumers are seeking smaller portions of protein and larger servings of vegetables and grains.
We’ve all be watching Anthony Bourdain dine his way around the world for years now. “Pho inspired” soup just won't cut it for most, people want the real thing. For many diners, authenticity is important in the food they’re eating, both for the flavor in the dishes and for the respect to the cultures whose foods they’re enjoying.
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