Summary
- • The restaurant industry is projected to reach a value of $1.2 trillion in 2021.
- • Quick service restaurants represent 79% of all restaurant visits in the United States.
- • The restaurant industry employs over 10% of the total workforce in the United States.
- • The average American eats out 4-5 times per week.
- • Restaurant industry sales are equal to 4% of the U.S. gross domestic product.
- • There are over 1 million restaurant locations in the United States.
- • 58% of adults say they are more likely to eat at a restaurant that offers healthy menu options.
- • The restaurant industry is projected to add 1.6 million jobs over the next decade.
- • Online food delivery sales are expected to reach $200 billion by 2025.
- • Over 90% of restaurant employees under the age of 21 work part-time.
- • The average fine dining restaurant in the U.S. generates about $1.1 million in annual sales.
- • 65% of customers look up menus online before dining out.
- • Restaurant industry sales are expected to reach $1.5 trillion by 2030.
- • Drive-thrus account for 70% of fast-food business in the United States.
- • The restaurant industry has a turnover rate of 74.9% for hourly employees.
From drive-thrus to fine dining, the restaurant industry is a gold mine of flavors and figures. With the sector projected to hit a mouth-watering value of $1.2 trillion in 2021, its clear that Americans have a voracious appetite for eating out. Quick service joints dominate the scene, accounting for 79% of all restaurant visits, while over 10% of the workforce is kept busy serving up endless dishes. As the average American dines out 4-5 times a week, its no surprise that restaurant sales make up a hefty slice of the U.S. GDP. With a feast of statistics at our fingertips, grab your fork and get ready to dig into the fascinating world of the ever-evolving restaurant industry!
Consumer Behavior and Preferences
- Quick service restaurants represent 79% of all restaurant visits in the United States.
- The average American eats out 4-5 times per week.
- 58% of adults say they are more likely to eat at a restaurant that offers healthy menu options.
- 65% of customers look up menus online before dining out.
- 84% of millennials say they enjoy trying new restaurants.
- The average American spends approximately $3,526 on dining out each year.
- 37% of consumers say they spend more money on restaurants now compared to two years ago.
- The average American spends 6% of their budget on dining out.
- 84% of consumers say they are influenced by online reviews when choosing a restaurant.
- 33% of consumers say they use restaurant mobile apps to place orders.
- 61% of diners say they prefer to receive promotions and discounts via email.
- African American consumers spend 13% of their food dollars on dining out.
- In 2020, off-premises dining accounted for 61% of all restaurant traffic.
Interpretation
In a country where drive-thrus reign supreme and online menus are scanned more diligently than Shakespearean sonnets, the American dining scene is a colorful tapestry of fast bites and conscious choices. From the health-conscious diner swayed by quinoa salads to the adventurous millennial on a perpetual quest for the next trendy hotspot, our love affair with dining out is both a culinary adventure and a budgetary consideration. With a penchant for exploring new flavors and a voracious appetite for convenience, we are a nation that not only eats, but savors every morsel of our $3,526 annual dining escapade. As the restaurant industry continues to evolve and innovate, one thing remains clear—while the methods may change, our collective love for dining out will always be a constant, whether in the form of a glowing online review or a piping hot meal delivered straight to our door.
Employment and Workforce Statistics
- The restaurant industry employs over 10% of the total workforce in the United States.
- The restaurant industry is projected to add 1.6 million jobs over the next decade.
- Over 90% of restaurant employees under the age of 21 work part-time.
- The restaurant industry has a turnover rate of 74.9% for hourly employees.
- 40% of restaurant employees are under the age of 26.
- The foodservice industry employs over 15.6 million people in the United States.
- The restaurant industry is the second largest private sector employer in the United States.
Interpretation
In a world where opportunities are as diverse as the menu at a bustling restaurant, it's no surprise that the industry is sizzling with stats like a well-seasoned dish. With over 15.6 million people employed in the foodservice sector, the restaurant business isn't just serving up delicious meals but also dishing out jobs to over 10% of America's workforce. And with projections of adding 1.6 million more jobs in the coming decade, it's clear that the restaurant scene is not just a side dish but a key player in the nation's employment landscape. So, whether you're a young part-timer flipping burgers or a seasoned pro dishing out fine dining experiences, the restaurant industry isn't just a piece of the pie – it's a thriving force to be reckoned with.
Restaurant Industry Size and Growth Projections
- There are over 1 million restaurant locations in the United States.
- Restaurant locations offering online ordering have grown by 101% since 2016.
- Fast-casual dining has experienced a 500% growth rate since 1999.
Interpretation
In today's culinary landscape, the numbers certainly don't lie - with over 1 million restaurant locations in the United States, it's safe to say that we are spoilt for choice. The rapid growth of online ordering options by 101% since 2016 is a testament to our collective desire for convenience in this digital age, while the staggering 500% surge in fast-casual dining since 1999 showcases our evolving taste for quality meals on the go. So whether you're craving a classic burger or a gourmet sushi burrito, there's a seat at the table for everyone in America's diverse and dynamic restaurant industry.
Revenue and Sales Performance
- The restaurant industry is projected to reach a value of $1.2 trillion in 2021.
- Restaurant industry sales are equal to 4% of the U.S. gross domestic product.
- Online food delivery sales are expected to reach $200 billion by 2025.
- The average fine dining restaurant in the U.S. generates about $1.1 million in annual sales.
- Restaurant industry sales are expected to reach $1.5 trillion by 2030.
- Drive-thrus account for 70% of fast-food business in the United States.
- Restaurant spending accounts for 46.2% of the food dollar in the United States.
- Restaurants spend an average of 10% of their budget on marketing and advertising.
- The restaurant industry in the United States is projected to reach $899 billion in sales in 2021.
- Sales at full-service restaurants are expected to reach $278.7 billion in 2021.
- Digital ordering and delivery have grown by 300% faster than dine-in traffic since 2014.
- Fine dining restaurants have seen a 4% increase in sales in recent years.
- Food trucks generate over $2 billion in revenue annually in the United States.
- The restaurant industry contributes $2.93 trillion to the U.S. economy.
- Restaurant sales are expected to grow by 4% in 2022.
- The average check per person at full-service restaurants is $20.88.
Interpretation
As the restaurant industry continues to serve up a feast for the economy, it's clear that dining out is not just about satisfying hunger—it's about feeding the financial engine of the nation. With projections soaring to unimaginable heights, it seems we'll soon be exchanging dollars for dining experiences more frequently than ever before. From the humble drive-thru to the lavish fine dining establishments, each aspect of the industry plays a crucial role in keeping the food dollar flowing. So next time you indulge in a meal out, remember that you're not just savoring flavors but also supporting a multi-trillion-dollar force to be reckoned with.
Technology and Digital Trends
- 80% of restaurant owners believe that technology helps increase sales.
Interpretation
In a world where avocado toast has become a cornerstone of modern dining, it comes as no surprise that 80% of restaurant owners believe in the power of technology to boost sales. Gone are the days of handwritten orders and clunky cash registers; today's savvy restaurateurs are embracing digital tools like online ordering platforms and mobile payment systems to cater to the tech-savvy appetites of their patrons. As the saying goes, if you can't stand the heat, get out of the kitchen - or at least invest in some cutting-edge tech to keep up with the competition.
