Stats Show State of Restaurant Industry
It has been reported by the National Restaurant Association (NRA) that annual sales in the restaurant industry are $783 billion dollars, with annual food and beverage purchases projected to be at $279 billion for the year. With more than one million restaurant locations in the United States, it is a major source of jobs. The NRA reports that there are 14.4 million employees in the restaurant sector. Following are some fast facts that depict the growth and current state of the restaurant industry:
In 1955, the restaurant industry comprised 25% of the family food dollar. In the present, that number has risen to 47%.
Real disposable income will post a moderate gain in 2016, with a 2.6% projected rate.
Food services and drinking places employment continued to trend up in August 2016 (+34,000). Over the year, the industry has added 312,000 jobs.
The Restaurant Performance Index (RPI) fell to 99.6 in September 2016. This is an indicator of a decline in same-store sales and customer traffic.
Restaurants are extremely labor-intensive. Average sales per full-time equivalent non-supervisory employee in 2015 was $56,000, compared to $226,000 for grocery stores. (Source, based on data from BLS and U.S. Census Bureau)
Restaurant operators are have increased mainstream technology use by 14% since 2016 with, 12% calling their technology "leading edge," 54% calling their technology "mainstream," 32% calling their technology "lagging," and 2% saying they "don't know."
Four in five restaurant operators agree that restaurant technology helps increase sales, make their restaurant more productive, and gives their restaurant a competitive edge.
In 1955, the restaurant industry comprised 25% of the family food dollar. In the present, that number has risen to 47%.
Real disposable income will post a moderate gain in 2016, with a 2.6% projected rate.
Food services and drinking places employment continued to trend up in August 2016 (+34,000). Over the year, the industry has added 312,000 jobs.
The Restaurant Performance Index (RPI) fell to 99.6 in September 2016. This is an indicator of a decline in same-store sales and customer traffic.
Restaurants are extremely labor-intensive. Average sales per full-time equivalent non-supervisory employee in 2015 was $56,000, compared to $226,000 for grocery stores. (Source, based on data from BLS and U.S. Census Bureau)
Restaurant operators are have increased mainstream technology use by 14% since 2016 with, 12% calling their technology "leading edge," 54% calling their technology "mainstream," 32% calling their technology "lagging," and 2% saying they "don't know."
Four in five restaurant operators agree that restaurant technology helps increase sales, make their restaurant more productive, and gives their restaurant a competitive edge.