Companies in this industry operate restaurants and other eating places, including full-service restaurants (FSRs), quick-service restaurants (QSRs), cafeterias and buffets, and snack bars. Major companies include Bloomin' Brands, Darden Restaurants, McDonald’s, Starbucks, and YUM! Brands (all based in the US), as well as Greggs (the UK), Jollibee Foods (the Philippines), Skylark (Japan), and Restaurant Brands International (Canada).
Restaurants are adopting new technologies and services to compete for consumers who increasingly value convenience. Mobile payments, online ordering, and home delivery are becoming more commonplace in both the full-service and limited-service segments of the industry. Pricing is also becoming a more important issue as customers are able to choose from a growing variety of dining options, including pre-packaged meals from outlets such as grocery stores, convenience stores, and coffee shops. Emerging competitors such as providers of subscription meal kits could further disrupt the industry in the future.
Products, Operations & Technology
About half of full-service casual restaurants serve general American fare, according to Mazzone & Associates; other popular specialties include breakfast foods, Italian food, seafood, and Asian cuisine. Hamburger restaurants account for about 40% of sales among US limited-service establishments, and sandwich, pizza, chicken, and Mexican food restaurants each account for about 10%. Bakery-cafés and Mexican food are leading categories in the fast-casual segment, while pizza restaurants and health-focused concepts are driving the most growth, according to Technomic.