Did you know that the F&B industry is brimming with tons of opportunities that can help scale your business? Of course, you did, but there are specifics, such as restaurant industry statistics, which give the low-down perspective of what’s really going on behind the scenes.
Over the last few years, the industry has gone through rapid changes. For instance, we have the COVID-19 pandemic situation, which shook the FO& platform. A lot of businesses shut down, while others thrived and became part of the restaurant industry statistics.
Likewise, there are restaurant industry statistics on just about anything in the industry. The amount of food waste, the exact percentages on Covid-19 impact on business operations, user buying trends, and vice versa.
Even if you are not a restaurant business owner or a potential business owner, you can still get by with whatever restaurant industry statistics have to offer. For instance, as an employee, or a career-driven individual, you need to have accurate information about restaurant industry statistics that relate to job prospects.
In this post, we have highlighted some of the recent restaurant industry statistics that allude to your online/ offline food business in one gigantic way.
Take a look below:
- In 2020, the restaurant industry’s projected worth was adjusted to $659 billion in sales from an initial projection of $899 billion. This loss of $240 billion was due to the COVID-19 pandemic. (Restaurant Dive)
- As a result of the COVID-19 pandemic, in the U.S., there was a 65.91% year-on-year decline in consumers dining in restaurants as of January 2021. (Statista)
- 51% is the restaurant industry’s share of the food dollar in the U.S. (NRA Restaurant Industry Facts at a Glance)
- For limited-service restaurants, the percentage increase in debt between 2019 and 2020 was 8.1% (AlixPartners)
- In the U.S, there are over one million restaurants. (Restaurant ORG)
- Prior to the pandemic, the U.S. restaurant industry experienced an annual turnover rate of 74.9%. [Source]
- In the U.S., only 5% of employees said they were unhappy with their role. [Source]
- 9 out of 10 restaurant managers started at entry-level. [Source]
- The average age of U.S. restaurant employees is 28.8. [Source]
- 30% of all restaurant employees reported a 9 out of 10 to describe their own job happiness.
- The average base salary for a restaurant employee in the U.S. is $11.54 per hour. [Source]
- Chefs earn an average of $15.08 per hour in the U.S. [Source]
- Restaurant management makes a median salary of $55,516 per year in the U.S. [Source]
- Restaurant workers in the UK earn an average of £25,161 annually. [Source]
- UK chefs earn an average of £10.16 per hour. [Source]
- In the UK, restaurant managers earn an average base pay of £32,517 per year. [Source]
- Canadian restaurant staff earns $20.46 on average per hour. [Source]
- Chefs in Canada earn an average of $19.72 per hour. [Source]
- Restaurant managers in Canada earn an average of $47,343 annually. [Source]
Restaurant consumers have changed their habits in 2020. Here’s how people are spending money at restaurants and consumer trends for the restaurant industry.
- Pent-up demand for restaurants remains high, with 39% of adults not eating on-premises at restaurants as often as they would like. (Source)
- 78% of millennials say they would rather spend money on an experience, such as a restaurant or other activity, compared to purchasing an item from a store. (Source)
- If offered, 41% of consumers would buy a make-at-home meal kit from their favorite restaurant. (Source)
- 72% of diners ranked high quality food as the top factor that goes into choosing a restaurant to visit. Surprisingly, only 48% said value was their number-one factor. (Source)
- When placing an online order, a patron is more likely to use a restaurant’s website than a third-party site like Grubhub. (Source)
- When receiving an online order, guests ranked speed as the most important, followed by value, and then the quality of the food. (Source)
- 35% of diners said they are influenced by online reviews when choosing a restaurant. (Source)
- In the U.S. 110,000 restaurants have closed temporarily or permanently due to the pandemic. [Source]
- Prior to the pandemic, the restaurant industry was projected to earn $889 in 2020. [Source]
- The U.S. restaurant industry netted $659 billion, $240 shy of their projected goal. [Source]
- The pandemic drove 163% of restaurant job losses in the UK. [Source]
- From 2019 to April 25, 2021, the UK industry saw a decline in seated restaurants of 36.14%. [Source]
- The UK restaurant industry lost £80.8bn or around £9m every hour due to pandemic lockdowns. [Source]
Percentage of restaurant guests who say that off-premise dining is essential during the pandemic more than before. [Source]
In the end, at Blink Co. we strive to meet your expectations by offering solutions that align with the latest industry standards. Statistics help us determine what’s relevant to your food business. We take pride in what we do; that would be an understatement.
How is that so?
If you are a food startup business owner, feel free to give Blink services a shot. Our bleeding-edge solutions are backed up by a hyper-active support platform where restaurant owners have full control of their business.
Follow sales trends, break down your restaurant customer analytics, and identify pain points to make improvements. In a way, we couldn’t be happier for you and are excited to see your food business operating at its full potential.