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.
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.
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