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INDUSTRY STATS ARE IMPORTANT

March 27, 2015

As some of you know, my son Chris and his wife Dani own a restaurant and bar in Medford, Oregon (Elements). If you have been one of their customers, thank you. Their business has been growing nicely. Why? As a proud Dad, I could say it is because of a great service team, food and drink. I hope this is true, but one of the fundamental reason could be that the market is finally growing.

Looking at the most recent (2013) USDA’s Economic Research Service, for the first time since the Great Recession American’s are spending more money at food-away-from-home (restaurants, carry-outs, etc.).

In 2013 we spent $1.4 trillion on food and beverages. Almost half of that spending was devoted to food-away-from-home. This is an all-time high after a several years of decline. This may be one reason why McDonald’s, which has seen sales decline over the past two years, is in such a panic. Share of U.S. food spending devoted to food-away-from-home:

2013: 49.6%
2010: 48.6%
2000: 47.0%
1990: 43.0%
1980: 39.0%
1970: 33.4%
1960: 26.3%

Your Marketing Lesson: You need to pay attention to industry statistics and trends. When your market is growing, but your business is not, it is time to take major marketing action. If your market is not growing, but you are, it is time to invest in grabbing more market share.

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One comment

  1. Hey Mark…… Nice write ups on past couple of weeks. Like your blog. Weight is still 195. Headed one last push to 188. Bud

    Sent from my iPhone

    >



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