"Full-Service Restaurants in the US" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Dec 19 2014

2013 saw some growth for the full-service restaurants category, especially in light of slow to negative growth since 2008. The category is characterised by a sense of cautious optimism, with industry insiders looking forward to more recovery in 2014. Since the recession, there has been pent-up demand for full-service dining among consumers, as consumers have been eager to treat themselves when they can afford it.

Competitive Landscape

In 2012, buffet formats witnessed some of the lowest growth in the category. Sales at both Ryanís Restaurant Group affiliates, Ryanís and Fire Mountain, fell by more than 14%, a decrease largely spurred by outlet closure. Buffet Holdings Incís Old Country Buffet and Home Town Buffet did not perform much better, with each recording more than 10% declines in sales in 2012. In 2013, Buffets Inc, which operates Ryanís, Old Country Buffet and Home Town Buffet, and operates as a subsidiary of Buffets Holdings Inc, changed its name to Ovation Brands Inc. Since the change in name and management in 2013, Ovation Brands has been attempting a branding overhaul. In July 2014, Ovation Brands appointed a new Senior VP of Marketing who plans to implement a significant rebranding campaign that entails new advertising management and hiring new in-house professionals. Despite the makeover, the ďall you can eatĒ format is still very much at odds with the current trends towards healthier eating and it is unlikely that these restaurants will see renewed success in the future.

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Industry Prospects

Over the forecast period, full-service restaurants in the US are predicted to post a 2% constant value CAGR to achieve US$224 billion in sales in 2018. This will be a huge improvement on the review period, which saw a negative constant value CAGR of 1% over 2008-2013. Growth of premium casual brands will drive this, as their ability to price even higher than casual chains, and their customersí willingness to pay for such an experience, both increase with the improved economy. As more established chains move forward, they are likely to realise the importance of staying relevant, resulting in a large number of renovations and new format experiments. All are unlikely to succeed, but those that do will undoubtedly contribute to this growth.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Full-Service Restaurants industry in USA with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Full-Service Restaurants industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.

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