Industry Analysis & Industry Trends
The Full-Service Restaurants industry has endured a difficult time over the past five years. The economic downturn caused many consumers to cut back their discretionary spending on activities such as dining out. Some traded down to cheaper takeaway options or chose to cook at home instead. Changes to government regulation and policies concerning wage costs, alcohol tax and food safety have prevented growth. Industry profitability is estimated to have dropped because of declining patronage, falling prices and rising labour and food costs. Several struggling operators have been forced to exit the industry but some have found opportunities to expand their operations... purchase to read more
Industry Report - Industry Products Chapter
Meals for consumption on the premises
Most of the industry's revenue comes from selling food for consumption on restaurant premises. This segment is expected to account for 66.2% of revenue in 2014-15. The downturn forced most operators to review their menu selections in line with increasing demand for value meal options. Many operators also made use of set menus, where consumers could choose from a limited number of options for multiple courses at a reduced price. Set menus and value meals have helped tempt consumers to eat out, even when finances are tight.
The sale of alcoholic beverages is expected to generate 27.2% of industry revenue... purchase to read more