From supply and employee retention issues caused by the pandemic to inflation concerns and technological advances, the restaurant industry has been in flux for more than two years.
This report provides timely insights into this fast-evolving industry, including:
From supply and employee retention issues caused by the pandemic to inflation concerns and technological advances, the restaurant industry has been in flux for more than two years. This report dives into the quick-service restaurant industry, looking at current and emerging market trends and shifts in consumer behaviors and preferences directly impacting this industry.
KEY STAT: 65% of fast-food diners have noticed price increases at fast-food restaurants.
The average American dines at fast food and local restaurants more than any other type. The consumption of fast food/fast casual restaurants is highly influenced by income, age, and race. According to our data, Black and Hispanic/Latinx consumers are likelier to choose fast food/quick service restaurants as their go-to dining option.
Fast food trailed locally-owned restaurants until recently. Those saying that fast food is the type of food they eat most has increased yearly since the start of the pandemic.
Recent trends suggest a change in consumer expectations regarding fast-food purchases. While healthiness was emphasized from 2015 to 2020, the focus has now shifted to value. This shift may be attributed to concerns regarding inflation and a potential recession.
Despite technological advances, drive-thru and in-store cashiers are still preferred ordering methods.
While most adults order fast food for convenience and speed, young people are likelier than others to use fast food as a treat or socialize.
Consumers noticed significant price increases in all the top fast-food restaurant chains over the past three months. This was particularly true for McDoand’s, where 7 out of ten noticed increases.
Despite price increases, consumer spending at QSRs is predicted to remain mostly stable through November, with a slight (2% year-over-year) dip in spending expected around June.
Chick-fil-A is the most loved fast-food restaurant among the general population and weekly+ fast-food consumers. Whereas Jersey Mikes, Five Guys, and Firehouse Subs are the most loved fast-casual restaurants.
Consumers looking for a good burger chose Wendy’s, Burger King, and McDonald’s. Purchase the report to find the top quick-service restaurant choices for chicken and pizza!
When trying new food and beverages, the southeast region seems more open-minded, while the great plains tend to stick to what they are familiar with.
Sustainability is on consumers’ minds, and over time more consumers are becoming interested in local ingredients. A third of consumers are open to plant-based meat at fast food restaurants.
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