In 2020, the number of foodservice transactions in independent type outlets (United States of America) was 18,934.92 Million
The number of foodservice transactions during the period in chain type outlets (United States of America)was 50,969.55 Million
The other type of outlets (United States of America) recorded 18,733.62 Million transactions in 2020
United States of America foodservice market analysis
The overall value of the USA foodservice profit sector declined in 2015 –2020. The decline in the USA foodservice profit sector was due to a substantial reduction in the number of transactions in 2020, owing to the COVID -19 pandemic. The period recorded long-term closures of activities and eventually permanent closure of various businesses. However, e-commerce and takeaways played a vital role in mitigating the losses of foodservice businesses. Profit sector channels will see increasing average transaction prices, which will support the growth of the country’s foodservice market. With the return of normalcy, dine-ins will continue to dominate the majority of foodservice channels in the USA, given that consumers enjoy the opportunity to relax and enjoy a meal on-premise.
Impact of COVID-19
Lockdown and restrictions on dining in restaurants and eateries forced citizens to take up cooking at home. Although restrictions were eased and foodservice businesses are slowly returning to normal, the fear of COVID-19 infection is discouraging people to visit restaurants and other food joints as much as possible. Ease of restrictions helped foodservice businesses with take-outs and meal deliveries. Cooking at home, especially experimenting with new cuisines and recipes, is being preferred by the USA citizens during the pandemic spread, meal kits are being looked at as time and effort saving options by some of the customers. Consumers will look to make their visits count by choosing outlets that offer a greater variety of cuisines and offer unique/exciting flavours. Restaurants are also expected to continue focusing on delivering superior taste/quality and value for money options, as the ongoing pandemic pushes more consumers into financial stress, causing them to search for cheaper food options.
Number of transaction highlights
The QSR channel leads the profit sector in terms of the number of transactions as well. A large number of transactions in the channel can be attributed to its huge presence in terms of outlets and convenient meal options at low prices. During 2015–2020, the channel registered flat growth, while the rest of the channels posted declines. Leisure recorded the steepest decline in terms of transactions during 2015–2020, followed by accommodation. The decline in transactions was primarily due to temporary closures of outlets, a decline in customer footfall, and shortened store hours. Stores were reopened as of early May and allowed limited seating by the end of the fiscal year. However, customers were hesitant about communal dining during the pandemic. There has been an increasing trend in home cooking and baking; video call services have been seeing exponential growth as the prime alternative to enjoy group celebrations.
Transaction: The total number of visits by individuals to foodservice locations that involve the consumption of either food or drink. If several people visit one location at once and there is only one bill, such as a group dining in a restaurant, the number of transactions is counted as being one for each person in the group. If an individual purchases several items in an outlet over the course of a single visit, such as an individual spending an evening in a pub and purchasing several drinks, this is counted as one transaction.
Chain: Chained owner type foodservice operations are those which have multi-unit outlets with a minimum of 10 branded outlets.
Independent: Independent owner type foodservice operations are those that have one or more foodservice outlets or multi-unit outlets but fewer than 10 foodservice outlets. These foodservice outlets are mainly run by family businesses or private partnerships.
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