Report: Booze and Takeout Will Fuel Strong Year for Restaurants
WASHINGTON, D.C. – The restaurant industry will continue to grow in 2020, according to the annual State of the Industry Report from the National Restaurant Association, and there will be more demand for delivery and takeout options.
“Now in its eleventh consecutive year of growth, the industry is adapting to consumer preferences faster than ever before,” said Hudson Riehle, National Restaurant Association senior vice president. “Consumers tell us they want to use restaurants more than they are now, and the challenge for the industry is meeting consumers where they want to be. We expect this year will see growth in off-premises options, technology that streamlines operations, and more restaurants that are talking about their increased sustainable and eco-friendly practices.”
More highlights from the report:
- 2020 restaurant sales are projected to reach $899 billion
- The industry will provide a projected 1.6 million jobs in 2020
- More than 70 percent of traffic in the quickservice and coffee/snack segments is off-premises.
- 76 percent of adults say they are more likely to visit a restaurant that offers locally sourced food.
The report says that consumer interest in healthy menu options will remain strong in 2020. Also, nearly two-thirds of orders in the fine-dining segment include alcoholic beverages. In 2020, operators in all but one category are planning to increase their offerings to keep up with increased demand.
“Consumers are embracing the industry more as they continue to shift spending away from physical items and towards experiences,” said Riehle. “This opens channels of opportunity and growth in food, beverage, and technology. We’re excited to see how these trends and developments play out in 2020 and beyond.”