Industry Analysis & Industry Trends
In the battle for consumers' shrinking budgets, restaurants increasingly lost out to home-cooked meals or fast food restaurants during the past five years. In addition, consumers have become more health conscious. Although major restaurants have responded by expanding the number of nutritious options on their menus, the general trend toward better eating has hurt many of the less-healthy chain restaurants. Stronger operating conditions are in sight, though, as consumer expenditure rebounds. Also, most major chains are investing in international expansion as part of their long-term growth strategies to boost profitability... purchase to read more
Industry Report - Industry Analysis Chapter
Over the past few years, adverse economic and social conditions have battered the Chain Restaurants industry. Contributing factors include weakened consumer spending, the rapid rise in unemployment and, to a lesser extent, society's increasing awareness of the health risks associated with a diet high in fat, salt and sugar. In the face of these obstacles, the industry has tried to respond to changing consumer preferences by lowering their prices and offering healthier options. As a result, IBISWorld expects revenue to grow at an annualized rate of 2.0% to $81.7 billion in the five years to 2013, including an expected 5.5% upward surge in 2013... purchase to read more