CHICAGO – Mintel announced earlier this week that it projects U.S. restaurant sales to rise 5.9% in 2014, and offers five key trends to watch that are likely to influence restaurant menus and spur growth:
- The case for fast casual: Recent sales growth for the fast casual segment demonstrates that consumers are willing to pay more for foods that they perceive to be of better quality. The trend will continue in 2014, with new stores offering nutritious menu items.
- Premium yet practical: Full service restaurants will try to replicate success from the fast casual segment, launching concepts that incorporate the speedier fast casual service model. They will also tap healthier offerings while employing technology that quickens the dining experience.
- Open book business practices: With consumers concerned about the origin of their foods, they are demanding transparency in ingredient sourcing as well as general business practices. Look for restaurants to comply, offering more information about their green practices and the causes they support.
- Demographic expansion: While many operators have been focused on attracting Millennials, other demographics present robust sales opportunities, including Hispanics, women, and Baby Boomers. Indeed, spending power among Hispanics is projected to reach nearly $1.7 billion by 2017, and serving this expanding demographic will help fuel growth.
- Technology infusion: Restaurants will continue to leverage technology to reduce service times, offer loyalty programs, and issue promotions and discounts. Brands will also redesign their websites to make them easier for consumers to navigate, especially via smartphone.