Experts Feel the Outlook for the Restaurant Industry in 2013 is Positive

Despite the fact that the restaurant industry has had to deal with numerous negative pressures and uncertainties over the course of the last several years, many experts feel that 2013 will actually usher in a record high in restaurant industry sales. The projection is that sales will reach around $660 billion this year; representing a 3.8% increase from 2012 (adjusted 0.8% for inflation.) Although growth isn’t expected to be explosive, this remains positive news for those involved in the restaurant business.

The Fact that People want to Eat Out Is a Major Contribution to Growth in the Sector

One of the biggest factors that protects the restaurant industry no matter how bad the economy gets is the fact that it offers a service that customers actively seek out. We see again and again that people continue to spend their hard earned dollars eating out, no matter what the state of the economy is.

Now, obviously people who are feeling strapped for cash may perhaps make different choices in regards to how they eat out – doing so less frequently or down-trading to establishments with cheaper menus – and restaurant owners have had to shift their practices accordingly. But this doesn’t change the fact that people want to have nice meals outside their homes. In fact, one of the biggest factors contributing to the expected growth of this upcoming year is actually the pent up desire many people have to eat out on a regular basis again.

Why Restaurants are Flourishing Again, Despite Rising Costs

This is the sixth consecutive year of economic weakness. By this point in the game, most restaurants have either rose to the challenge of finding innovative ways to cut costs and control productivity or they have had to close their doors. Those restaurateurs who have been able to stay the course and solve their operating dilemmas are now able to shift their focus from simply keeping their heads afloat to growing their sales base instead.

Grow Your Sales Base with Strategic, Focused Marketing Plans

Given the fact that success this year is so dependent on attracting and retaining new customers, it only makes sense to have a marketing plan that is extremely targeted and efficient in place. Follow your metrics closely, make a point of understanding what is working and what isn’t, and shift your technique accordingly. Social media is going to play a big part in the success of your marketing campaigns as well, so if you haven’t already developed a strong social network, spending a little extra effort in this arena can have big payoffs – especially if you get creative with your campaigns and utilize marketing gimmicks that engage users and encourage them to help you spread the word.

Pre-tax profit margins will continue to be slim, so it’s also important to keep an eye on every aspect of your operations, monitoring for areas which could use some adjustment.

All in all, things are looking up for the restaurant industry this year. The people are there, and they want to eat out. Your job is to keep up with reforms that increase productivity and efficiency while finding creative new ways to attract them to your establishment.

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