There is cut-throat competition in the restaurant industry. The findings of National Restaurant Association highlighted that approximately 30% of the restaurants are likely to fail in the first year of their opening. Furthermore, 30% of the remaining restaurants that have survived the first year will be closed in the next. Therefore, to make sure that the restaurant standouts in this bloated market; it must wow diners with incredible meals, exceptional services and outstanding ambiance, especially, if the charges per person are $100 for the experience. <\/p>\n
There has been a substantial increase in American dine out spending to $680 billion per year. They have become more demanding than ever, looking for higher-quality fast food and greater variety than offered by the big tycoons of the market including Burger King, KFC and McDonald’s. <\/p>\n
According to Darren Tristano, executive vice president of Technomic, a food-service research and consulting firm, restaurants have become a significant part of the millennials’ social structure. They are spending less on meals to eat out more often. He further adds that “Fast-casual dining in places like Chipotle and Panda Express lets the consumer guide the staff to prepare their meal just the way they like it”. He also argues that in the meantime, many traditional chains are lagging behind in offering high-quality ingredients. Other restaurant chains like Chipotle, Noodles & Company and Panera have gone as far as to offer meals that are produced without any use of antibiotics in animal feed that is particularly attractive for health conscious consumers. Many fine and regional restaurants have emerged lately, if get past the big guys. Some of them that have topped the list are In-N-Out Burger, El Pollo Loco, Boston Market, Chick-Fil-A and the Habit Burger Grill. <\/p>\n
A new wave in the American restaurant market is the battleground for breakfast, many chains are offering meals; for instance, Taco Bell has introduced Waffle Taco to take on McDonald’s McGriddles. While these are some of the major players of the fast food industry – they will have a tough time swallowing what we have found. <\/p>\n
According to an exhaustive study by Consumer Report, the customers at those restaurants rated their signature items the worst in their respective categories. The results revealed by a survey of 32,405 Consumer Report Subscribers will leave some executives of high-powered food chains scratching their heads. This gives a wake-up call to McDonald’s offering worst burgers, KFC selling the worst chicken and Taco Bell making the worst burritos. <\/p>\n
Fast food is big business; National Restaurant Association estimated that Americans are likely to spend more than $683 billion this year to eat out, i.e. $2billion per day. Although, factors such as low price, convenience and predictability had facilitated fast-food chains to prime the pump, but today, it is no longer enough for generation of patrons demanding superior quality and better-tasting food. <\/p>\n
Mark says “The landscape is changing as Millennials come into adulthood”. As Millennials are overtaking Generation X<\/strong><\/a>, these young consumers not only embrace value, but even quality and social issues. This has hit, particularly, the big restaurant chains hard, urging them to meet the standards and their consumers’ needs. <\/p>\n
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