Published on : Dec 29, 2017
Albany, New York, December 29, 2017: A new research study offering insights on the key factors influencing dining out among US consumers has been added to the comprehensive repository of Market Research Hub (MRH). The report titled “Dining Out in 2018 - US - December 2017” analyzes the spending patterns and influencing factors among the consumers in the US and offers an analysis on how these factors can have an impact on restaurants and hotels. According to the report, the evolution in consumer behavior towards dining out can be advantageous to multi-chain restaurants, whereas it can pose challenges to micro-level restaurants.
The report opines that more consumers are planning to brown bag their lunches and cook more at home, which can cut into the revenues of restaurants in the US. However, a desire to cook at home can be impeded by challenges with time and hectic schedules, which can favor casual and on-the-go restaurants. The changes in the consumer behavior have meant that although overall restaurant sales are witnessing an increase, individual restaurants are struggling to keep pace.
The report also offers analysis on macro-economic factors and their likely impact on dining out trends in the US in 2018. Disposable income, overall confidence in the economy, domestic and international tourism trends – all of these factors have an impact on the restaurant industry, and it is highly likely these will continue to shape the industry in 2018 as well. According to the report, FSRs are growing at a quicker pace than LSRs, which has meant that the latter are taking a slight lead over the former.
The other important trends that can influence the US dining out landscape in 2018 include the growing popularity of Asian cuisines, multiple choice burnout, and innovations in beverage mix. According to the report, Asian cuisines are growing in popularity in the US and this can prompt restaurant owners to include more options in their menu. Also, the sheer number of dining out options available to an average US consumer has meant that the competition has become very fierce in the sector. The evolutions in beverage innovation has also forced restaurateurs to cater to the demand.
In addition to these trends, the report opines that the visitation to full service restaurants and limited service restaurants is equal. While gourmet halls continue to be niche dining sector, breweries are emerging as a competition for the restaurant industry. Overall, the key trends related to consumer desire for cooking at home, combined with mushrooming of too many hotel and restaurants can have an impact on the US dining out landscape in 2018.
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