The restaurant industry is soaring to new heights as they are on the path to $863 billion in sales this year!
In the latest annual State of the Restaurant Industry Report, the National Restaurant Association revealed that by the end of 2019, restaurant sales are expected to reach $863 billion and operators state their businesses are stronger than they were two years ago. Several restaurant operators gave an average response of “excellent” or “good” when asked to assess business conditions in the industry!
Along with this restaurant growth, the workforce has increased as the Association has added jobs with annual incomes between $45,000 and $74,999, at a rate more than three times stronger than the overall U.S. economy. Having satisfied employees makes a great impact on the customer experience which then creates loyal customers.
The food delivery industry has also played a key role in increased sales. The casual and fast casual diners have both benefited from third party businesses as they see higher takeout and delivery sales than in comparison to two years! But, in the full-service category, there is still some room for improvement.
Moreover, from point-of-sales systems and online ordering to employee training programs, technology is integrated into almost every aspect of a restaurant. More than eight in 10 operators agree that restaurants should continue to invest in new technology if they want to stay competitive.
Customer servicing technologies like app ordering, mobile payment, and reservations are the main contenders in the restaurant innovations that operators are placing a great emphasis on. At the end of the day, having happy customers who will then spread the word to others, is the goal for one’s restaurant growth.