Restaurant operators are busy, and sometimes analyzing data can seem time-consuming and overwhelming. Along with the insights they look at for their operations, restaurateurs should keep an eye on what’s happening in the industry, as well as what guests are looking for, what attracts customers, top trends, and more. Here are some valuable stats and numbers to help operators make informed decisions about the future of their business:
- Three out of five restaurants don’t survive their first year in business
- 67 per cent of restaurants increased their menu prices last year
- 82 per cent of restaurateurs reported being at least one position short in 2023
- 94 per cent of operators planned to expand their business in 2024
- 39 per cent of people follow their favourite restaurants on social media and 55 per cent of people have visited a restaurant after seeing it on TikTok
- 85 per cent of diners research restaurant menus online before deciding to visit and 43 per cent have looked into a restaurant’s Google reviews in the last three months
- Online ordering accounts for about 23 per cent of restaurant revenue
- 52 per cent of restaurants in the U.S. have switched to paperless menus and 51 per cent of customers said that paperless menus have a positive impact on their restaurant experience
- 67 per cent of restaurants have a loyalty program, and purchases made by loyalty members are about five per cent higher than non-loyalty members
- 43 per cent of diners order takeout and delivery at least once per week and Friday is the most popular day to place orders
- 39 per cent of consumers are dining out at least once a week and 36 per cent say they rarely make a reservation
Restaurateurs have so many responsibilities that staying on top of the industry can be a challenge but knowing what your customers are looking for, top marketing strategies, operator trends, and more can help you make informed decisions for the success of your restaurant.
