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Buffet Restaurants in the US Industry Market Research Report Now Available from IBISWorld(PR Web Via Acquire Media NewsEdge) New York, NY (PRWEB) September 30, 2014 The Buffet Restaurants industry has declined over the past five years. Following a drop in industry revenue in 2009, the industry has continued to decline in subsequent years. While industry revenue has been negatively affected by low levels of consumer spending, a more lasting threat to the industry has presented itself in the form of increasing health consciousness. According to IBISWorld Industry Analyst Zachary Harris, "buffet-style restaurants tend to use lower quality ingredients in the food they prepare in order to save costs and keep prices down." Additionally, most buffets operate on an all-you-can-eat model, in which customers pay a fixed-fee and are then able to consume as much food as they would like, which encourages overeating. Both of these general aspects of buffet restaurants are unappealing to consumers that are dieting or are otherwise conscious of their food consumption habits. Given rising national health consciousness, this has resulted in a decline in the industry's consumer base. As a result, IBISWorld expects industry revenue to decline over the five years to 2014. "Rising health consciousness is anticipated to continue to reduce demand for the Buffet Restaurants industry over the five years to 2019," says Harris. However, countervailing trends and industry innovations are forecast to stifle the industry's decline in upcoming years. Firstly, given that much of the industry's revenue is garnered from older consumers, the ageing of the US population will be beneficial to industry operators. Secondly, while the industry has lost its popularity in some regions of the United States, such as New England and the Mid-Atlantic, buffet restaurants are expected to remain popular in the Southeast, Southwest, Plains and Great Lakes regions. Thirdly, industry operators are anticipated to increase their focus on making their restaurants more appealing to health conscious consumers by increasing their offerings of low-fat foods. Finally, the buffet restaurants are expected to increasingly use social media and other innovative marketing techniques to increase their exposure to consumers, which is expected to bring in new customers. As a result, industry revenue is anticipated to decline over the five years to 2019. For more information, visit IBISWorld's Buffet Restaurants in the US industry report page. Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189 IBISWorld industry Report Key Topics The Buffet Restaurants Industry comprises chain and franchised restaurants with buffet-style services where patrons pay, serve themselves and eat within the restaurant. These establishments may also sell alcoholic and other beverages. This industry does not include buffet-style food service contractors, which are included in IBISWorld reports 72231 and 72232. Industry Performance Executive Summary Key External Drivers Current Performance Industry Outlook Industry Life Cycle Products & Markets Supply Chain Products & Services Major Markets Globalization & Trade Business Locations Competitive Landscape Market Share Concentration Key Success Factors Cost Structure Benchmarks Barriers to Entry Major Companies Operating Conditions Capital Intensity Key Statistics Industry Data Annual Change Key Ratios About IBISWorld Inc. Recognized as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-37 Read the full story at http://www.prweb.com/releases/2014/10/prweb12210027.htm (c) 2014 PRWEB.COM Newswire |