There will be a shift away from high-cost beef and chicken items and those items under less price pressure will be promoted, similar to what happened with chicken in 2011 when beef prices rose. Coffee is also anticipated to be under cost pressures in the near term. Social media will continue to stimulate trial. Social media is still evolving, but its clear that leveraging the medium has the potential to benefit restaurants, especially in the full-service segment. Social media will be important in stimulating consumer trial and restaurants will use discounts, loyalty and other programs to convert these consumers into regular customers. Beverages will continue to be a focus of quick-service restaurants. Successful recent tactics to drive traffic and boost profits include beverage loyalty programs, promotions to build off-hour demand for specialty drinks, an influx of new and non-carbonated options, and offerings that appeal to the aging population.
Global Fast food Restaurants Global Industry report ibisworld
There are also significant opportunities for fast food operators in new ethnic food segments. Mexican food is one commonly cited example, but the recent popularity in food Trucks underscores the opportunity. Taken together with the general improvement in macroeconomic conditions, these positive trends should power an increase.9 in fast food industry revenues, possibly bill reaching 186.2 billion in five years, according to ibisworld. Quick service restaurant Customer Demographics, fastCasual reports that, the npd group released a market research report on Fast Casual dining, which identified many fast food industry customer trends, including: Retail competition will increase. Convenience stores are capturing more dashboard-dining occasions, delivering the benefits of fast, on-the-go, one-stop shopping. Supermarkets, on the other hand, are making inroads with prepared foods being taken home to eat. Work-related visits and lunch will experience the a turn toward recovery. Unemployment has hit the work-related lunch occasion most heavily, and recent more positive economic indicators, such as reduced unemployment and increased consumer confidence, are encouraging. Some turn toward recovery of that meal occasion is anticipated in 2012, providing broad benefit to commercial and non-commercial operators. Higher beef and chicken prices in 2012 will affect restaurant offerings and menu prices.
Ibisworld predicts that consumer spending will increase.3, on average, over the next five years. Another positive trend forecast is for qsrs to creatively address the health concerns of their customers with alternative menu items, such as fresh salads, chicken burgers, and pasta. Some fast food operators student also may open entirely businesses around these alternative menu concepts, but co-locate them with existing stores (like yum Brands has done with Kentucky fired Chicken and Taco bell. Ibisworld also sees strong opportunities for fast food operators in the international market, with China of particular importance, however other Asian markets and the middle east are seen as strong opportunities. Another positive source for revenue growth is in specializing menus. With existing operators, this can be similar to McDonalds foray into the specialty coffee market. Some of these new menu items can be low-cost, high-profit additions to a stable product mix that improves location profitability.
With less money to spend during the recession, and continued caution during the slow recover, consumers are eating out less frequently. When they do eat out, they are more likely to choose lower cost solutions. In the past, this may have meant choosing fast food restaurants. More recently, food retailers are offering more appealing easy to prepare home dining solutions. General health concerns over fast food also are steering customers to healthier options and health-oriented quick service restaurants (QSRs). Market research supports this trend, showing the number of fast food restaurants fell. To 263,944 in 2012, while employment at qsrs has averaged annual declines.6 over the same period, reaching an estimated.5 million employees in 2012. Despite these headwinds, ibisworld identifies several positive trends that should help boost fast food industry revenues.2 in 2013. At the macroeconomic level, these trends include a slowly improving economy, gradual labor market improvement, and building consumer confidence leading to more spending on eating outside the home.
Fast food Market Research Reports fast food Industry Analysis
The industry is labor-intensive: annual revenue per worker is less than 50,000. Restaurants compete with companies that serve meals or prepared foods, including grocery stores, warehouse clubs, delis, and convenience stores. In addition, restaurants compete with home cooking. Products, operations technology, products include appetizers, entrées/main dishes, desserts, and beverages. Companies may specialize in a certain type of cuisine (such as Italian, Chinese, or barbecue entrée (sandwiches, steak, seafood or other food item (pretzels, smoothies).
Among fsrs, most establishments focus on Italian cuisine, steak, or seafood. Hamburger joints make up a majority of qsr locations, along with pizza parlors and sub sandwich shops. Industry revenue is roughly evenly. Below is our beautiful partial summary of fast food industry trends highlighted by ibisworld in its. Fast food Business market research report (the full version of the report is available for purchase from ibisworld). From 2007 to 2012, the combined forces of evolving consumer tastes, the recession, and slow economic recovery have produced slower growth in fast food business revenues. Most of the slowdown was felt during 2009 when revenues retreated.3, however, revenue growth returned in 2010 (1.8) and 2011 (1.3) and is forecast to rise.1 in 2012.
Get a free fast food Business business plan template on our Business Plans page. Fast food Business overview trends, 2012. Sic code: 5812, naics code: 722210. This, fast food Business industry summary is from First Research which also sells a full version of this report. The us restaurant industry includes about 550,000 restaurants with combined annual revenue of more than 400 billion.
Major companies include McDonalds; yum! Brands (kfc, pizza hut, taco bell and Darden Restaurants (Olive garden, red Lobster). The industry is highly fragmented : the 50 largest companies hold just 20 percent of the market. The industry consists of fullservice restaurants (FSR) and limited service eating places, which include quickservice restaurants (qsr cafeterias; buffets; snack bars; and nonalcoholic beverage bars. Competitive landscape, demographics, consumer tastes, and personal income drive demand. The profitability of individual companies can vary: while qsrs rely on efficient operations and high volume sales, fsrs rely on high-margin items and effective marketing. Large companies have advantages in purchasing, finance, and marketing. Small companies can offer superior food or service.
Fast food Market Share, fast food Industry forecast - 2022
Six fast travel food restaurants each have more than 10 million likes on Facebook. Fast food restaurants continued to target black and Hispanic youths, populations at high risk for obesity and related diseases. Black and Hispanic youth were more likely than their white and non-Hispanic peers to visit one-third or more of all fast food websites. For instance, hispanic youths were 30 more likely to visit m, while black youths were 44 more likely to visit. Market research on the fast food industry. Our reports feature a wealth of standardised and cross-comparable statistics including total market sizes, market share and brand share data, distribution and industry trends. Learn about trends in the fast food Business and where to find more info about how to open your own Fast food Business. Dont forget you can receive free or low-cost training and free professional business advice, from your local Small Business development Center!
McDonald's remained the only restaurant to advertise more to children than to teens or adults. McDonald's placed a total of 34 million display ads for Happy meals on websites each month, a 63 increase from 2009. Three-quarters of these ads appeared on kids' websites like m, m, and. Healthier kids' meals were advertised, but represented only one-quarter of fast food ads viewed by children. Teens saw as many or more tv advertisements for Taco furniture bell, sonic, and Starbucks than adults, although teens watch 30 less TVthus these restaurants likely targeted their ads specifically to adolescents. Fast food restaurants placed 6 billion display ads on Facebook in 2012, 19 of all their online display advertising. Between 20, fast food restaurant likes and followers on Facebook and Twitter increased between 200 and 6,400.
Fast food consumption also increases the intake of sugar, saturated fat, sodium, and sugary drinks. Preschoolers viewed.8 fast food ads on tv every day in 2012, children (6-11 years) viewed.2 ads per day, and teens viewed.8 ads per day. Six companies were responsible for more than 70 of the tv ads seen by children and teens in 2012. On average, us preschoolers saw.8 fast food ads per day, children saw.2 ads per day, and teens saw.8 ads per day. The total number of tv fast food ads seen by children ages 6 to 11 decreased by 2012, but there was no change in the number of ads seen by children ages 2. The majority of fast food restaurants stepped up their tv advertising to children. Among the top-25 advertisers, 19 increased advertising to preschoolers and 14 increased ads to older children.
The 2010 report and report summary are available. Fast food companies still target kids with marketing for unhealthy products. In 2012 the fast food industry spent.6 billion to advertise mostly unhealthy products, and children and teens remained key audiences for that advertising, according to a new report by the yale rudd Center for food Policy obesity. The report highlights a few positive developments, such as healthier sides and beverages in most restaurants' kids' meals, but also shows that restaurants still have a long way to go to promote only healthier fast-food options advantages to kids. The nutritional quality of individual items offered with kids' meals improved at some restaurants, but less than 1 of the 5,427 kids' meal combinations met recommended nutrition standards. There was a 54 increase in the number of possible kids' meal combinations available in 2013 compared with 2010. However, there was no change in the number of combinations that qualified as healthy meals for elementary school-age children.
Fast food Market Share 2016: Global Industry Growth Will reach
The 2013 facts about fast food nutrition and marketing to children and teens. In 2010, the first Fast food facts report documented the nutrition quality and marketing of fast food to children and youth. Three years later - using the same methods as the first report - fast food facts 2013 reveals how the fast food nutrition and marketing landscape has changed. Explore the fast food facts website to learn more about the restaurants, menu nutrition including kids' meal combinations, marketing techniques, and the science behind the facts. For the detailed report methods and findings see the. Fast food facts 2013 Report, fast food facts 2013 Report Summary, and, report Summary in Spanish. The videos and infographics below highlight some of the report's findings. Fast food companies pursue kids wherever they go: Fast food companies spend billions on advertising: Despite more choices, it's still hard to find a healthy kids' meal: Fast food facts was developed by the rudd Center xmas for food Policy obesity. Learn more about the rudd Center's research on food marketing to youth.