Restaurant Statistics 2024

Today's restaurant industry is as competitive and dynamic as ever before. With food-delivery services, online ordering platforms, and a variety of other technologies transforming the way restaurants operate, it is important for restaurant owners to stay informed of the latest industry trends. COVID-19 has also drastically impacted dining habits and the restaurant industry’s overall performance.

Looking at the restaurant industry last year and into the near future, here's a quick rundown of what you will read in this post, with numbers from reputable sources such as the National Restaurant Association, SquareUp, LightSpeed, and Statista:

  • Top Restaurant Statistics

  • The Economy and the Restaurant Industry Statistics

  • Restaurant Sales and Expenses Statistics

  • Dining and Restaurant Formats

  • Delivery Services Statistics

  • Restaurant Digitalization Statistics

  • Restaurant Employment Statistics

  • Restaurant Marketing Statistics

  • Restaurant Waste Statistics

  • Around the World - International Statistics

  • Top Restaurants Lists

Top Restaurant Statistics

  • 80% of restaurant owners are optimistic about the future of their business and 100% of respondents plan to expand their businesses this year. (SquareUp, 2024)
  • 100% reported that automation and technology have improved business while 54% intend to increase spending on new technology and automation tools in 2024 (SquareUp, 2024)
  • In 2023, 70% of diners felt the need to fork out more on hospitality bills compared to the previous year. (LightSpeed, 2024)
  • 39% of diners are dining out at least once a week or more while 38% say they only visit a new restaurant every few months. (TouchBistro, 2024) 
  • 91% of customers say they have noticed price increases at restaurants and 62% believe they are asked to tip more often than they are accustomed to. (TouchBistro, 2024)
  • 80% of consumers are researching menus online before visiting a restaurant. (Popmenu, 2024)
  • 40% of restaurant owners noted that 21% or more of their revenue comes form outside core restaurant service, and 40% of customers are very interested in trying a new type of offering from a business known for something else, such as retail items from a restaurant. (SquareUp, 2024)
  • 31% of restaurants plan to add more non-alcoholic drinks to their menus. (TouchBistro, 2024)
  • 38% say they are spending the same if not more on restaurant meals compared to the previous year but are tipping less. (Popmenu, 2024)
  • 30% of consumers want venues to have more sustainable food sourcing. (LightSpeed, 2024)
  • There are over a million restaurants in the US as of 2024. (WebstaurantStore, 2024)

                 

                The Economy and the Restaurant Industry Statistics

                The restaurant industry faces a number of challenges in the coming years, from staffing and operational issues to finding ways to stay competitive.

                • Consumers today spend on average 30% of their individual or family food budgets on restaurants each month, down from 40% in May 2022. (Popmenu, 2024)
                • Eating and drinking places generated $93.7 billion on a seasonally adjusted basis in March 2024, according to preliminary data from the U.S. Census Bureau. (Popmenu, 2024)
                • Profit margins fell by 9.3% in 2023, and venues with 21-40 and 41-80 seats being hit the worst. (Touch Bistro, 2024)
                • According to Fortune Business Insights, the US Foodservice market is expected to grow by $1.767.54 billion by 2030. (TouchBistro, 2024)

                      Restaurant Industry Sales and Menu Statistics

                      Restaurant sales statistics continue to show interesting trends, from increasing demand for beverages and creative experiences to the expanding world of healthy food products.

                      Dining and Takeout Statistics

                      Delivery Services Statistics

                      The rise of delivery services and digital ordering platforms has revolutionized the restaurant industry, and it will continue to disrupt the industry. However, the face of online food delivery is also changing.

                      Restaurant Technology Statistics

                      • 85% of diners still prefer to order from a server and even 64% of Gen Z diners make in-person reservations indicating that diners still want human contact as part of the customer experience at restaurants. (TouchBistro, 2024)
                      • Taco Bell’s AI voice drivethrough technology boosted sales by 10% and reduced wait times by about 10 seconds. (Houlihan Lokey, 2024)
                      • 87% of consumers rather contactless payment methods. (WebstaurantStore, 2024)
                      • 45% of diners said they tried a new restaurant after seeing a social media post about the restaurant. (WebstaurantStore, 2024)
                      • 100% of restaurant owners reported that technology and automation have improved their business while 54% plan to increase their spending on technology tools in 2024. (SquareUp, 2024)

                      Restaurant Employment Statistics

                      Restaurant Marketing Statistics

                      • 44% of Gen Z diners say they are finding restaurant coupons and deals from social media (Touch Bistro, 2024)
                      • 81% of restaurant owners use Facebook for the promotion of their business, as it continued to grow as the dominant social media promotion channel in 2024. (TheRestaurantHQ, 2024)
                      • 23% of restaurateurs reach out directly to anybody who gave negative feedback while 2% admit to never taking action when receiving negative feedback. (Toast, 2024)
                      • 94% of patrons read online reviews such as Yelp and TripAdvisor before visiting a restaurant. (MenuTiger, 2024)
                      • 80% of consumers expect restaurants to have a form of social media presence. (TheRestaurantHQ, 2024)
                      • 67% of restaurant owners plan to pay for social media advertising. (Toast, 2024)
                      • Word of Mouth still plays a huge factor with 92% of consumers saying they trust recommendations made from family, friends or influencers. (MenuTiger, 2024)

                      Restaurant Expenses Statistics

                      Restaurant Food Waste Statistics

                      • More than 80% of Americans waste food that is still considered good and consumable because of misunderstandings of expiration labels. (RTS, 2024)
                      • Americans discard 30-40% of the entire US food supply. (RTS, 2024)
                      • 43% of food waste comes from homes, 40% from restaurants, grocery stores and food service companies, 16% from farms and 2% from manufacturers. (RTS, 2024)

                      Around the World

                      Restaurants around the world are embracing different technologies and marketing strategies to stay competitive.

                      • When compared globally, China is expected to generate the highest revenue from online food delivery at $450.50 billion. (Statista, 2024)
                      • It is estimated that 19% of food waste and loss is wasted by households, retailers, restaurants and other food services. (FAO, 2024)
                      • The United States and China have the largest consumer base in the online food delivery market. (Statista, 2024)
                      • The cities with the most Michelin-starred restaurants worldwide are Tokyo - 194, Paris - 136, Kyoto - 103, Osaka - 95 and London - 80. (Statista, 2024)
                      • The ghost kitchen market is estimated at $58.61 billion worldwide. China is the country with the most ghost kitchens worldwide. (Statista, 2024)
                      • McDonalds has an approximate market value of $196.3 billion and is the leading food and drink service chain by market value.  (Statista, 2024)

                        Top Restaurants Lists

                        Brand Directory lists the world's top 10 restaurants, according to market valuation:

                        • Starbucks ($60,669M) US
                        • McDonald's ($37,993M) US
                        • KFC ($14,170M) US
                        • Subway ($7,231M) US
                        • Taco Bell ($7,107M) US
                        • Domino's Pizza ($6,104M) US
                        • Tim Hortons ($5,942M) Canada
                        • Burger King ($5,255) Canada
                        • Pizza Hut ($5,066M) US
                        • Chipotle ($4,881M) US

                        OpenTable also launched its Top 100 list for 2023 featuring Chicago restaurants like Aba, Alla Vita, Girl & the Goat, Maple & Ash, North Pond and Rose Mary.

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