Making Sense Out of the Complexities of Foodservice

Posted by IFMA June 18, 2014

Tagged in COEX Connect Foodservice Channel Partners Foodservice Industry Research Foodservice Operators Industry Research Leadership Optimize

Doug Brooks, former CEO of Brinker (Chili's and Maggiano's), described several key foodservice industry trends and discussed how operators can respond to these trends at Chain Operators Exchange,  COEX. In this environment of marketplace mayhem, the challenge for restaurants is to adapt and improve without losing sight of their brand's core values.

Key Takeaways:

The restaurant industry is one of the largest in the U.S. and has an increasing economic impact. The past few years have been a period of economic and societal mayhem. The economy has been sluggish, the government has been ineffective, consumer anxiety has been high and confidence has been low. Society has been disrupted by technology and social media. This chaos has affected the foodservice industry, which plays a key role in America. 

  • For 2014, the foodservice industry will have $683 billion in projected revenue (more than the agriculture, motion picture and airline industries combined). 
  • At 13.5 million employees (10% of U.S. workers), the industry is the second largest private employer in the country. 
  • 50% of all Americans have worked in a restaurant. 
  • The industry has added two million jobs in the last decade.

Login to view Making Sense Out of the Complexities of Foodservice. Stay tuned for more COEX Executive Summaries. This summary and all others in the series are exclusively available to IFMA members. Contact ifma@ifmaworld.com to discover more benefits of being an IFMA member.

Brinker COEX Summary

Login To Gain Access To This Content
Mar 05

Chain Operators EXchange (COEX)

The IFMA Chain Operators EXchange (COEX) enables chain operators to take advantage of business building insights and create personal connections with leading manufacturers. With dozens of high-profile operators on the planning committee, the program truly is created "by operators, for operators."

Delivering more to the bottom line through Demographic Understanding

The foodservice marketplace is changing. The industry has lost 1.7 billion visits since the recession. Its heaviest users, Millennials, have cut back on visits, Boomers and older have increased visits, the multi-cultural population is changing and competition for the consumer tightening. With all of these changes afoot, the question is: should operators stay the course or shake things up?     

Leading operators on innovation, sustainability and supplier relationships

Find out what leading foodservice operators had to say on innovation, sustainability and managing supplier relationships at COEX 2013.

Bennigan's, Del Taco & Zinga Frozen Yogurt on driving consumer traffic

Foodservice operators from across the country came together at COEX 2013 to discuss ways to drive new revenue at their foodservice establishments. Find out what their outlooks are on ways to bring in new customers.

Strategies for Restaurants to Grow in the Hourglass Economy

The American middle class traditionally powered consumer spending. But unyielding economic pressures have continued to shift purchasing power away from the middle, creating an hourglass economy, and there is very good reason to believe that this trend isn't likely to change anytime soon. 

Collaboration Techniques for Menu Changes, Product Improvements and Reacting to Today’s Demanding Guests

No activity is more mission critical for restaurant operators than menu development. Poor attempts at menu development won't always mean the demise of a concept, and successful menus won't ensure business success, but the quality of menu development definitely affects a restaurant's success. 

Operators on Driving Consumer Demand

Consumers have become more knowledgeable about the food they eat, and are increasingly interested in doing business with companies in all industries, including foodservice, who share their values and are part of their community. They also care a great deal about experiences and value. Therefore, creating demand in the future will still be about the basics of food, service, and cleanliness, but will increasingly be about experiences and choices.

Supermarket Report Provides Insight Into a Growing Channel

Datassential's newest segment report gives an in-depth analysis of Supermarket Prepared Foods, including who their patrons are, their offerings, what they want from suppliers and much more. Increase your understanding of the supermarket segment and how to grow in it with this hot-off-the-press report.  

Casual Dining's value pricing dilemma and how to regain momentum

With QSRs on the rise and many casual dining chains opting for a QSR approach, the focus on price point is more important than ever. As a foodservice manufacturer, you can support operators in their success with a keen eye for menu development, LTOs and more. Read on to find out how.

How can foodservice compete with grocery retailers?

Have you ever wanted to pick the brains of foodservice leaders? Here you will get candid answers to challenging questions from executives from Ben E. Keith, Panera Bread, Lyons Magnus, plus many more. This group brought their collective knowledge to The IFMA/IFDA Presidents Conference 2012 and the discussions are continued at ifmaworld.com to provide even greater insight.

Top 3 things operators want from manufacturers

Foodservice leaders from every corner of the industry - operators, distributor and manufacturers - came together at The IFMA/IFDA Presidents Conference 2012 to discuss critical issues facing channel partners. Their answers may surprise you.