Every year, our restaurant consultants develop and release industry predictions for the following 12-14 months. We develop these predictions from national research and our experience with clients in major cities (New York, Chicago, Los Angeles, Philidelphia, Las Vegas, and Denver, for example) across the country.
First, we took a look at the minimum wage increase probability. It was on the cusp even before the start of the year, and we predicted we would see change within 2016. As we posted here
, this change did come to fruition, and we are now working with restaurant owners to adjust their budgets and operations accordingly.
Our next predicitons were all interrelated, just as their development throughout the 2016 fiscal year has been. We continue to see Millennials driving the market, and so their interests and desires are trickling through the industry. We have written a lot about how Millennials are effecting restaurants around the country (read our post on Knowing Millennials
), and understanding this demographic contines to be key.
Because of the Millennial drive in the market, more and more restaurants are incorporating the local-food trend into their menus as this is a primary "want" for the 20-35 year-old demographic. Craft beer continues to be popular, but we are also seeing our distilling prediction come to fruition, particularly in the increased popularity of small batch gin (and gin cocktails are also on the rise).
If you missed them this year, read up on our 2016 Top Trends
and see how this applies to your business. Need more information? Contact our restaurant consultants
https://www.instagram.com/ellienonnie/Photo by Ellie Nonnie.