Restaurant industry economy is 'beginning to improve'

10th August 2009, 9:24am

A survey of 150 restaurant industry leaders has shown that although trading conditions remain difficult for many restaurant operators, there are signs that the economy is beginning to improve.

One of the keys findings highlighted how nearly 60% of restaurant operators reported a negative like-for-like performance in the quarter to June 2009. However, level of concern with the economy is diminishing – significantly fewer industry executives reported strong concern compared with results in 2008.

The survey showed how the bigger operators are better positioned to withstand the recession, citing Whitbread Group, McDonald's and Subway as those performing well. 

85% of restaurant leaders agree that customer value expectations have risen as a result of the recession with consumers demanding greater choice. The findings also showed that loyalty to previously favoured restaurants is dwindling. 

Looking to the future, 63% of industry leaders said they believe consumers will be eating out of the home more regularly in five years time. In addition, 64% of leaders believe fast casual dining is the business model set to grow the fastest in the next three to five years as consumers become more mobile and lead more informal lifestyles.

The final part of the survey named the brands and people most admired by industry peers including PizzaExpress, Byron, Leon and Wahaca and Jamie Oliver.

Related Articles:

• 04 Nov 2009 - Price of starters and desserts go up while cost of main courses remains flat
• 20 Aug 2009 - London restaurants defy recession as openings rise 9%
• 18 Aug 2009 - Restaurant operators urged to control costs
• 17 Aug 2009 - Lack of finance could stifle restaurant industry recovery
• 11 Aug 2009 - Prezzo named UK's best pizza chain

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