Restaurant Industry to 440B
The National Restaurant Association forecasts that restaurant-industry sales will continue to rise in 2004, reaching a record $440.1 billion
Executive Brief [pdf]
Highlights:
2004 Highlights
Restaurant-Industry1 Sales $440.1 billion
Locations 878,000
Employees 12 million
Restaurant-Industry Share of the Food Dollar 46.4 percent
TOP INDUSTRY TRENDS IN 2004
1. Continued expansion
2. Heightened interest in health and nutrition
3. Intensified government impact
4. Diversity embraced
5. Greater productivity through technology
6. Importance of tourism
7. Energy-cost management
8. A focus on service
9. Heightened competition
10. A bright future
SALES OVERVIEW
■ Restaurant-industry sales are forecast to reach a record $440.1 billion in
2004�an increase of 4.4 percent over 2003, or 2.0 percent in real (inflationadjusted)
terms. That compares with a 1.3 percent real gain in 2003.
■ 2004 will mark the 13th consecutive year of real sales growth for the
restaurant industry.
■ On a typical day in 2004, the restaurant industry will post average sales of
more than $1.2 billion.
INDUSTRY SEGMENTS
■ Sales at fullservice restaurants are projected to reach $157.9 billion in 2004,
an increase of 4.6 percent over 2003, for a real growth rate of 2.1 percent.
■ Sales at quickservice restaurants are projected to reach $123.9 billion in
2004, an increase of 3.9 percent over 2003, for a real growth rate of 1.5 percent.
REGIONAL OUTLOOK
Of the nine U.S. regions, 2004 restaurant-sales growth is expected to be the strongest in the Mountain region
(Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming) at 6.1 percent.
See www.restaurant.org/research for more details.
Posted by Craig at January 9, 2004 07:26 PM