Restaurants redefine the industry
Restaurateurs are redefining the scope of their operations to give diners multiple reasons to engage with them. They’re becoming multi-hyphenate businesses and blurring the line between retail and restaurant.
88%
of restaurants plan to expand outside of their core restaurant offerings over the next 12 months.
65%
view non-core offerings as necessary to diversify revenue and grow their brand.
21%
of restaurants' revenue, on average, comes from products and services outside of their core restaurant offerings.
Diversification is important, but the inspiration isn't driven solely by one clear cause and effect.
59%
of restaurants say they did not start to offer products and services outside of core restaurant service because of the pandemic.
56%
said that it was not a response to economic conditions.
So, what is the reason? Simply put, it's just where commerce is headed.
44%
of restaurants say they want to keep up with competitors.
41%
said to diversify revenue streams.
40%
said to meet customer interest.
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