Industry Analysis & Industry Trends
While the larger food-service sector relies on buoyant consumers to drive revenue, the Street Vendors industry has not been as susceptible to volatility in consumer spending and confidence over the past five years. In the five years since the recession, many consumers spent less on discretionary items such as food purchases. However, street vendors were largely able to avoid these potential hindrances by selling food that is even cheaper than traditional fast food restaurants. The public's newfound obsession with food trucks will likely subside over the next five years, but sustained interest from major metropolitan areas will still present some opportunities for growth... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Street Vendors industry is in a growth phase of its life cycle. Over the 10 years to 2019, industry value added (IVA), which measures an industry's contribution to GDP, will grow at an average annual rate of 4.3%. By comparison, GDP is anticipated to grow at an annualized 2.5% over the same period.
While the rest of the food-service sector has been suffering due to lower consumer spending rates, the street vendor industry has made leaps and bounds over the past five years. Street vendors were largely able to dodge the recession's blow by offering new and compelling products that attracted a more diverse client base. These offerings include ethnic foods and fusions, gourmet foods and other dining options not traditionally associated with street food or food trucks... purchase to read more