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 SWOT Analysis Chapter
The Restaurants industry is in the mature stage of its life cycle. Over the 10 years through 2020-21, the industry's contribution to the economy (industry value added) is expected to rise by an annual rate of 3.3%, a strong performance when compared with annualised GDP growth of 2.6%. This indicates that the industry is growing at a slightly faster pace than the overall economy.
The number of establishments in the industry is anticipated to expand by an annualised 2.9% over the 10-year period. Strong demand for quality food and dining experiences have encouraged more firms to enter the industry. However, restaurants compete fiercely for prime locations and customer numbers, and failure to offer a successful price or quality proposition can lead to industry exits... purchase to read more