Restaurants Reposition for Growth
Older diners, a renaissance for bread, and explosive interest in everything veggie are driving new opportunities in the foodservice sector.
Fueled by a somewhat stronger economy and pent-up demand, restaurant sales are projected to hit a record high of $683.4 billion in 2014, up 3.6% from 2013 (NRA, 2014). Although the NPD Group reports that Americans made 61 billion visits to restaurants in the year ending May 2014, about the same as last year, traffic is nearly 1.3 billion annual dining out occasions below pre-recession levels (Glazer, 2014).
Times are still tough. When asked to describe their personal financial situation in May 2…
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