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Revenue generated by the US restaurant industry is forecasted to grow steadily over the next few years, surpassing GDP growth rates over the same period. What factors are contributing to this trend? This month’s infographic by the Hoover’s team at D&B illustrates some drivers.
The infographic, designed by Hoover’s Product Visual Designer Casey Decker, depicts sales and hiring trends, including growth in specialty niches such as fast casual and bakery cafes, and documents the industry’s efforts to offer healthier menus. The information portrayed in the infographic can be found in the Restaurants industry profile of First Research, D&B’s industry intelligence product. By adding infographics, we can tell the story more visually.
What are some trends that you are seeing among restaurants? What other types of emerging competitors are cropping up? Share your thoughts on this month’s infographic in the comments field below. Or better yet, share this with your friends, by clicking one of the buttons above the image.
I love this infographic. The Hoover’s and First Research teams did a great job of visually representing restaurant industry trends. I especially like that the urban farm-to-table movement and food trailer trends are mentioned. I’ve noticed these growing quickly, particularly in Austin. Ready-to-eat health food restaurants also seem to be popular. I’d love to see more about these new sources of competition.
Yes, love the infographic also!
Do farmers’ markets count as competition to restaurants? They seem to be popping up everywhere. In addition to produce and meats, many also offer ready-to-eat goodies such as breads, pastries, sandwiches, and drinks.
Many municipalities in the US require that food storage and preparation take place in a state-licensed commercial kitchen. This extra step could complicate logistics and increase costs for farmer-vendors. This is why most of the freshly prepared food we see at farmers markets is from existing restaurants. For purveyors with a commercial operation already in place, farmers markets could simply provide a new channel to sell goods.
Airports are another hot growth area for restaurants thanks to captive travelers and the fact that airlines no longer serve food on domestic flights. The variety at major hubs like DFW is impressive — from food court fare to sit-down, white-linen tablecloth establishments. I’m a big fan of food trailers, which are relatively inexpensive ways to test a new concept.
Eye catching. If infographics like this one can hook readers to delve further into the well-written, in-depth material on companies and industries that Hoover’s and First Research teams serve up everyday, let’s do some more.
I agree, Stuart. More and more companies are creating new departments dedicated solely to content creation to showcase their value proposition. In fact, Coca Cola is leveraging content in the form of storytelling as a central component of its strategy to double its business by 2020. (http://www.youtube.com/watch?v=LerdMmWjU_E)
Looks great! Awesome work!