Brief Excerpt from Industry Overview Chapter:
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 (the Philippines), Skylark Group (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
The restaurants and other eating places account for 50% of the total industry revenue; full-service restaurants account for about 25%; limited-service restaurants account for about 20%; cafeterias and buffets account for about 1%; and snack and non-alcoholic beverage bars account for about 3%.
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