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National Restaurant Association Unveils its Restaurant Industry 2030 Report
Today the National Restaurant Association, in partnership with American Express and Nestlé Professional, released its 10-year outlook report on the projected state of the restaurant industry in 2030. The report, "Restaurant Industry 2030: Actionable Insights for the Future," examines the key indicators shaping the future of the industry, identifies the most and least likely developments over the upcoming decade, and considers possible disrupters outside the industry that could transform it. The findings are based on input from a variety of restaurant sector experts, futurists, and government statistics.
Key economic projections for 2030 include...
National Restaurant Association: Economic Outlook for 2nd Half of 2019 Remains Positive
Growth in the national economy slowed during the first half of 2019. Job growth averaged just 172,000 a month during the first six months of 2019, which was down from an average monthly gain of more than 223,000 jobs during 2018. In addition, consensus forecasts have U.S. gross domestic product (GDP) rising less than 2 percent during the second quarter, which would make the first half expansion the weakest two-quarter growth in more than a year.
To be sure, a slowing economy doesn’t mean a contracting economy...
Restaurant Performance Index Fell Sharply in April
As a result of softer readings in both the current situation and forward-looking indicators, the National Restaurant Association’s Restaurant Performance Index (RPI) fell sharply in April. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 100.1 in April, down 1.8 percent from a level of 101.9 in March.
April’s RPI decline was the result of broad-based softening in both the current situation and expectations indicators. Although same-store sales readings were slightly positive in April, customer traffic turned negative. In addition, restaurant operators are less optimistic about both sales growth and the overall economy...
Restaurants Face Challenges Tapping into the Summer Labor Pool
According to the National Restaurant Association, summer employment is defined as the average number of eating and drinking place jobs in June, July, and August. Generally, the United States restaurant industry begins to ramp up its seasonal hiring in April, and peaks in June, July, and August. Restaurants are expected to add 515,000 jobs this summer season. Summer is typically the busiest season for restaurants in many parts of the United States, and the increased consumer traffic leads to additional employment opportunities at all levels of a foodservice operation. Roughly one in six food and drinking establishments operate on a seasonal basis, many being during the summer. The seasonal businesses that do all of their hiring for the summer months are responsible for the bulk of additional jobs.
Although the restaurant industry will add more than half a million jobs for the seventh consecutive summer, hiring will be somewhat cut back in 2019, with the projected increase of...
National Restaurant Association President & CEO Announces Retirement
After 12 years successfully leading one of Washington’s largest and most influential trade associations, advancing and protecting all aspects of the restaurant and foodservice industry, National Restaurant Association and National Restaurant Association Educational Foundation President & CEO Dawn Sweeney announced last week that she will step down when her current contract ends at the end of 2019. Until then, she will continue to lead the Association and Foundation, gain Board approval for the 2020-2024 strategic plan, and assist Board leadership in the search for a new CEO.
“Serving and leading the restaurant industry during this historic timeframe, when foodservice has grown to an $863 billion business employing over 15 million professionals, has been the most fulfilling experience of my career,” said Dawn Sweeney. “We have accomplished much together, including...
Consumer Pent-Up Demand for Restaurants Remains Elevated
The trend line of restaurant sales was positive during the first four months of 2019, according to data from the U.S. Census Bureau. Eating and drinking place sales totaled $61.5 billion on a seasonally-adjusted basis in April, which represented the fourth consecutive monthly gain after a sluggish second half of 2018.
To be sure, there appears to be more room for growth in the months ahead, according to a national survey conducted May 9-12 by ORC International for the National Restaurant Association. When asked about their current restaurant usage, a significant proportion of the American public say they would like to be patronizing restaurants more often. Forty-two percent of all adults say they are not eating on the premises of restaurants as frequently as they would like, while 48 percent say...
NRA: Foodservice Jobs Continue to Rally as Middle-Class Opportunities Expand
The National Restaurant Association recently reported on the state of employment in their industry, with some surprising results.
The key takeaways from their reports were that while the restaurant industry remains one of the most popular for Americans entering the workforce, there’s also great growth as the field experiences an increase in middle-class job creation. Unsurprisingly, restaurant employees have a high rate of turnover between the high seasonality and large population of student workers.
One in three American adults got their first job in...
The State of Millennial Dining
If you are wondering what attracts millennial customers to your restaurants, perhaps the No. 1 answer is the ability to provide an experience, new National Restaurant Association research finds.
According to the Association’s 2019 State of the Restaurant Industry report, millennial customers, aged 21 to 38 years old, said they would like restaurants to serve technology that improves the dining experience, offer more environmentally sustainable items, and create easier opportunities to order takeout and delivery.
Regarding the general dining experience, the report found millennials were willing to pay more to get more. Here are a few of the topline findings...
Restaurant Performance Index Posted a Solid Gain in March
Buoyed by stronger same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a healthy gain in March. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.9 in March, up 0.9 percent from February’s level of 101.0.
Growth in the RPI was driven by the same-store sales and customer traffic indicators, which both registered solid improvements in March. Looking forward, roughly one-half of restaurant operators expect to see stronger sales volumes in six months. However, their outlook for...
Foodservice Operators Seek Ways to Compete in 2019 Business Environment
According to the National Restaurant Association’s new State of the Industry report, operators, though generally optimistic about business conditions, say they must increase foot traffic, while keeping loyal customers content and attracting new customers at the same time.
The research indicates this year’s business environment is increasingly competitive, thus operators are seeking solutions to ensure success.
The good news, the report states, is that the majority of consumers eating out at restaurants are satisfied with their dining experiences. More than eight in 10 adult customers, or 85 percent, say they are satisfied with the service, food quality and...
NRA Examines State of the Restaurant Industry
Restaurant businesses are growing despite some operational challenges, such as workforce development issues, demand for increased technology, and serving Millennials, according to new National Restaurant Association research.
The 2019 State of the Restaurant Industry Report, a comprehensive look at trends and sales projections for the industry, culled and analyzed economic data, along with responses to surveys sent to restaurant operators and consumers.
Hudson Riehle, Association Senior Vice President of Research & Knowledge, shared takeaways from the report, discussed how he expects business to perform throughout 2019 ...
Tech Trends Driving Changes in Restaurants, Report Says
Gen Z and millennial expert Jason Dorsey says people refer to Gen Z and millennials as “tech savvy.” But that’s not necessarily true, says Dorsey. He says they’re actually “tech dependent” -- and that’s a different thing altogether.
That may be how they engage with restaurants too. From baby boomers to Gen Xers, generational attitudes toward restaurant technology notably differ, according to National Restaurant Association research delivered in a recent webinar.
State of the Restaurant Industry
What's the outlook for restaurants in 2019? The National Restaurant Association's 2019 State of the Restaurant Industry report provides the details.
Five key trends shaping the restaurant industry in 2019
While restaurant operators generally are optimistic about business conditions, they don't expect a letdown in competitive pressures in 2019. In addition, rising labor costs and ...
Restaurant Performance Index Edged Lower in February
As a result of softer readings in the current situation indicators, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a modest decline in February. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.0 in February, down slightly from a level of101.2 in January.
While restaurant operators continued to report positive same-store sales in February, customer traffic turned negative for the first time in five months. Although 50 percent of operators expect their sales to be higher in six months ...
Restaurant Performance Index Declined in January
Due in large part to softer same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) declined in January.The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.2 in January, down 0.4 percent from a level of 101.6 in December.
Although a majority of restaurant operators reported higher same-store sales in January, the readings were somewhat softer than the stronger results in November and December. Looking forward, nearly one-half of operators expect ...
Restaurant Performance Index Remained Relatively Steady in December
With restaurant operators continuing to report positive sales and traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) was essentially unchanged in December. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.6 in December, down slightly from a level of 101.8 in November. The RPI continued to be supported by positive readings in the same-store sales and customer traffic indicators, which both came in similar to their November levels. Looking ahead, although restaurant operators are generally optimistic about sales growth in the months ahead, their outlook for the overall economy remains uncertain. The RPI is constructed so that the health of the restaurant industry is measured in relation to a neutral level of 100. Index values above 100 indicate that key industry indicators are ...
Tyson Foods Initiates Coalition to Advance the Future of Sustainable Protein
African Poultry Sector Remains Strong Opportunity for Investors
USDA Announces School and Summer Meals Reforms
Sysco Announces U.S. Launch of Sysco Simply Plant-Based Burger Patty
Industry Applauds Senate Ratification of the USMCA
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