The restaurant industry is expecting sales of about $799 billion in 2017 as consumers continue to allocate more money towards eating out, the National Restaurant Association said in its annual industry outlook this week.
The $799 billion increased 4.3 percent over last year’s estimated sales of $766 billion, and 1.7 percent when adjusted for inflation. That rate of growth is slightly better than the 1.5 percent increase estimated in 2016.
And much of the growth is coming from limited-service options as consumers continue shifting their spending toward quicker, more convenience-oriented fare. Sales at quick-service restaurants are expected to increase 2.5 percent, when adjusted for inflation, to $234 billion.
Full-service restaurants, meanwhile, are expected to see 1.1 percent growth to $263 billion.
“The real growth rates for quick service is more than double than that of full service,” said Hudson Riehle, senior vice president for the research
and knowledge group at the association. “That’s been the case for quite a few years now.”