The restaurant industry will see stalled customer traffic in 2017, according to predictions from market research firm The NPD Group. Visits to quick-service restaurants will see an increase of 1%, and dine-in establishments will see a drop of 2%, NPD estimates.
NPD’s restaurant analyst Bonnie Riggs shared some reasons and insight for these predictions with NRN, including:
- Grocery stores now offer more fresh prepared items that are pre-cooked or ready to cook at home
- Lower grocery prices
- Increased medical costs reduce discretionary income
- Rising restaurant prices
- Rising gas prices
Although more and more restaurants are opening, consumers aren’t eating out more. Restaurants will have to be more innovative with technology and strategies to stay afloat.