Industry Analysis & Industry Trends
Changing social trends have fuelled strong growth for the Restaurants industry over the past five years. The industry is expected to post annualised growth of 6.2% over the five years through 2015-16, to total $13.1 billion. Busier lifestyles and diminishing leisure time have increasingly led consumers to turn to restaurants for meals. Restaurants have allowed consumers to combine dining with leisure and avoid spending time on food preparation. These trends are expected to continue in 2015-16, with industry revenue forecast to grow by 2.3% during the year.
Consumer demand for quality food and fine dining experiences has fuelled industry revenue growth over the past five years... purchase to read more
Industry Report - Industry Analysis Chapter
Consumers have exhibited an increasing appetite for restaurant dining over the past five years. Industry revenue has grown by an annualised 6.2% over the period, including a projected 2.3% rise in 2015-16, to total $13.1 billion. Mid-range and casual dining options have grown rapidly in popularity, particularly with the opening of many new restaurants in major cities. The increasingly fashionable image of restaurant dining has supported solid revenue growth. However, economic concerns have led some consumers to sacrifice or cut back on restaurant spending, preferring to eat at home or purchase cheaper takeaway options. This trend has constrained potential revenue growth over the past five years, particularly in the premium segment... purchase to read more