Restaurants Report HISI 2015

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The restaurant sector (like most of the industry) took a dive when the GFC struck. Thankfully, the industry has come back with a vengeance with an annualised growth of 5.6% over the last five years.

Restaurant sector still growing

While some of this growth can be attributed to recuperating losses after the GFC, in part it’s also due to shifting social patterns in consumer behaviour. With busier lifestyles, more work and less play time, consumers are looking to restaurants for the answer, along with the added convenience of saving time with food preparation and clean up!

Reality television cooking shows, like My Kitchen Rules and Master Chef, and rising profiles of celebrity chefs splashed across mainstream media have positively put the Australian hospitality scene in the spotlight.

Major supermarket chains like Coles and Woolworths have pounced on this growing opportunity by teaming up with celebrity chefs Heston Blumenthal (Coles) and Jamie Oliver (Woolworths) to create special recipes and pre-packaged meals.

For restaurants Australia-wide, this means greater knowledge and skill sharing opportunities between operators and consumers.

As layman knowledge, understanding and appreciation increases, there’s a greater need for consumers to know what they’re eating, how it was made and where it comes from.

SilverChef funding, cheaper than you think

It’s not just about the food though; consumers are focused on the experience as a whole, and décor, ambience, and customer service are highly valued.

Article source: Silver Chef, and the Hospitality Industry Success Index Report 2015.

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