8 Restaurant Industry Statistics for Restaurant Owners in 2018

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Senior editor

Parul Saxena

Chief editor

Last updated: April 19, 2021

The restaurant management industry has gone through its share of turmoil and changes in the last 5 years. At present, it employs 14.7 million people worldwide and has a market valuation of nearly $800 billion. The global foodservice market is projected to grow at a CAGR of 7.01% till 2022.

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Here are some Restaurant Industry Statistics for 2018 that provide insights into the industry:

1. Technology has made the life of restaurateurs much easier

Hence the growing demand for restaurant management software and POS (Point of Service/Sale) restaurant management systems.

In fact, the global restaurant pos software segment will be worth roughly $ 30,000 million in 8 years, with the fastest expansion in the Asia-Pacific Region.

(Source: Global POS Restaurant Management Systems, Transparency Market Research)

2. Technology plays a significant role in a diner’s pre-dining prep

More often than not diners rely on technology to decide where to eat (which explains the surge of restaurants being more active and engaging on social media), but word-of-mouth is still a huge motivator.

50% of diners read reviews of restaurants on review sites, while 53% elect to visit a restaurant because their friends, colleagues or family recommended it.”

(Source: Technology and Dining Out 2018, OpenTable)

3. RESERVED!

Diners have expressed interest over pre-dining features that they wish restaurants could provide through technology. 80% would like to know how long the wait for a table before they arrive and 72% would want to choose their table/seating area beforehand. 60% would want to learn about special offers and 64% would want to confirm a reservation via text or SMS.

(Source: Technology and Dining Out 2018, OpenTable)

Restaurant Industry Statistics - table

4. Polarized Opinions on Food Tech

But the consensus over the integration of technology into traditional food and dining experiences is divided.

42% restaurant-goers would switch from one restaurant to another over the ability to order online. Meanwhile, only 20% customers say they would rather use technology than interact with the restaurant staff.”

Clearly, pervasion of technology is not appreciated in those areas where the human touch is needed and preferred.

(Source: Restaurant Industry Pocket Factbook 2017, National Restaurant Association)

5. “Let’s just get it delivered”

If you had any doubts about how popular food delivery has gotten, put them to rest.

The market accounts for $ 121,848 million in 2018. More importantly, online delivery has the largest share of the segment – 90.31% at $ 110,044 million.

(Source: Food Delivery Worldwide, Statista)

6. As always, health is of paramount importance to customers

People want healthier options even if they won’t end up ordering something healthy. 70% of customers would choose one restaurant over another if it offered healthier food options.

(Source: State of the Industry Report 2017, National Restaurant Association)

Restaurant Industry Statistics - food

7. Social Media Marketing

Restaurants, like most other businesses, are looking towards social media for marketing and customer engagement. 75% restaurateurs used social media for advertisements.

(Source: Restaurant Success in 2017 Industry Report, Toast)

8. Facebook VS Snapchat

Building upon the last fact, restaurants are most likely to use Facebook (92%) and least likely to use Snapchat (16%) for social media marketing, customer support and enhancing customer engagement.

(Source: Restaurant Success in 2017 Industry Report, Toast)

It is easy to see how well the restaurant industry is responding to all the trends that keep popping up in the food and dining industry. These restaurant industry statistics are a clear indicator of its adaptability and openness to modernization. Technology has had its role to play in the way the industry has transformed and flourished.

Bottom Line

With innovative uses of tech in food and dining, more and more restaurants are on track for utilization of techs such as restaurant POS management systems, self-service kiosks, on-table ordering tablets, and the like to reduce the order-time and waiting, increase efficiency and customer satisfaction.

Restaurateurs need to make sure they have the right tools in accordance with the kind of experience that they want their customers to have.

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