In the face of a challenging macroeconomic environment, the restaurant industry continues to take a long-term approach to post-pandemic recovery and growth. While the industry faces increased diner price sensitivity and ever evolving tastes and preferences, key restaurant players are finding success by focusing on regional expansion, loyalty programs, menu innovation, and more.
As restaurants look to acquire new customers and drive loyalty among existing ones, brands continue to lean into pop culture, entertainment and technology to more effectively reach, engage and service customers.
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Global restaurant market projected to reach $2.6T in 2023 and $5.4TB by 2030 (CAGR of 10.79%)
$289.6B forecasted QSR sales in the U.S. in 2023; FSR sales are expected to reach $78.2B
Sources:
Stat 1: GlobeNewswire
Stat 2: Statista