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The Perfect Storm in the American restaurant industry

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The NPD Group, Inc., a company study American Market, It has revealed in a recent research that there is a downward trend in the average number of meals that US citizens. THE. They perform in restaurants.

In fact, this trend It would be accused in recent years.

The data that are shuffled start from the beginning of the millennium and include information on this year. While declining meals catering business was already apparent in the year 2000, once you get to 2006 (many economic analysts date marked as the prelude to the financial crisis that struck the world for several years) graphic wins slope.

Specific, The NPD Group, Inc. notes that if the average person ate in restaurants 215 times a year 2000, that same person would only 186 times in 2018. The worst record in the nearly three decades of which data are available. This decline represents a reduction of just over 14%, so it has worried many restaurateurs and professionals involved in the food sector.

Not so supermarket managers, instead see how consumption in their establishment tends to increase. It certainly seems to be an inverse correlation between these two phenomena.

Some market analysts have wasted no time in offering possible explanations for the observed statistics. The economic climate Dantesque usually through.

One of the most common means loads experienced by young people (and not so young) US adults. THE. Nowadays, a large percentage of the US population has received higher education in one of the many universities that exist throughout the territory. In addition to greater hope of finding highly remunerative jobs (which would affect the country's wealth and its citizens), attend classes taught on campus supposed to dive into school debts.

According to FRBNY Consumer Credit Panel, more than a quarter of Americans under sixty years have school debt. It is a challenge for a not inconsiderable part of citizens, well the amounts exceed duty, middle, the 37 000 Dollars.

An amount, surprisingly, It was much lower at the beginning of the millennium, when "he meant only" 17 580 half dollars. No need to take accounts to see that inflation is not the only factor causing this increase. The truth is that OF. THE. prepares for a major crisis, because the accumulated school debt is close to reaching a trillion and a half dollars.

Another problem that prevents the economy is suitable for eating or dining out is the stagnant wages. Americans have lost purchasing power During the last years. Comparisons wider intervals of time are painful, many workers watch helplessly suffering deterioration equate their salaries when their salaries with those who perceived their parents or grandparents once.

Meanwhile the cost of acquisition or rent has soared. Overall costs are much higher than decades ago. Expectations of what a dignified life forms have also been expanded ...

All this kitchen the perfect storm for most millennials, Centennial adults and some older demographic groups can not afford to eat in a restaurant as often as before. We must protect the pocket, wallet and bank account; Y eating out is a dispensable luxury which can be easily replaced by buying in grocery stores and preparing food containers at home, if you need to take to work menu.

On the other hand, despite the many efforts are devoted to increasing efficiency in restaurants and increase profit margins without raising the price of services accordingly, The truth is that Restaurants are increasingly expensive.

This is something that not only affects the independent establishments, restoration it organized also affected. Even fast food franchises have witnessed how prices rose in recent years; largely because of the rise in minimum wages, issue that has caused tidal wave in many US states. THE. in recent months and that some zealots and free market analysts predicted that entail negative consequences.

Wendy’s, Shake Shak, Jack in the Box it is included McDonald’s They have had to raise prices to cushion the impact of the new minimum wage. Although some have wanted to hide, The truth is that initiatives such as Fight for $15 They have played an important role. For companies an additional burden to be reversed at any price, either updating the amounts or relying on new technologies for restoration.

The former director of McDonalds, and Ransi, He commented about: "If you can not get people a reasonable salary, you do that running machines work... And the more you force [minimum wage 15 dollars an hour], faster will happen '. Of course, such action would result in uroboros, monstrous and Recursive, in which the unemployed would contribute in turn exacerbate the underlying problem: the poor health of the portfolios of the middle class.

Thus it has an explosive cocktail, inasumibles consumers with loads and restaurant prices upward. What else can happen? Well, neither more nor less than a change in consumption patterns and habits of the population.

This point brings to the fore two other problems that are affecting traditional restaurants.

On the one hand there have been a thousand and one specialized niches for catering business. These are not born from nothing, They have appeared to meet changing customer needs. vegan restaurants, ecological establishments, food kosher And a long etcetera, They steal customers whose local restaurants offering a lifetime services and customized products that resonate with the profile of new consumers.

Finally, many consumers still use restaurants to eat, just do not leave the comfort of your home to sit at the tables of their classrooms. He home delivery food has changed the rules of the game, and restaurants that do not fit are just those who perceive this disturbing constriction of turnover. In the end in the service sector, the user experience is everything.

Since it is difficult, not impossible, act on the negative effects of social or economic nature, the best they can do is restorers know in detail the new trends emerging in restoring and make the most. The only way you can survive in this business, always in constant change and evolution, but even disappearance forecasts long term.

The Perfect Storm in the American restaurant industry
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Article by the editorial team of DiegoCoquillat.com. It has professionals both in the field of hospitality, gastronomy and tourism, and new technologies and innovation.

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