Inside The Industry: The Future of American Restaurant Chains Heads South (of-the-Border)
This week’s “Inside The Industry” takes a look inside the restaurant industry, one of the many industries we specialize in insuring. This post shows that a certain type of fast-food seems to be all the rage right now and it isn’t your standard American cuisine. It seems that trends have the fast-food industry heading “south-of-the-border”. Taco Bell has been Yum! Brands’ most profitable chain for years and it seems that it’s the only the beginning for Mexican-style chain restaurants. Click below to read more!
The data from food researchers have shown that the sales at Mexican-style restaurant grew 9.3 percent in 2012. The competition could only muster up and average 5.8 percent increase. Here’s some fun facts, in the United States tortilla chips outsell potato chips, salsa outsells ketchup and tortillas eclipse both hot dog and hamburger buns! It looks like sad times for the happy meal.
The reason Mexican quick-service establishments are leading the way? Because the offer “high value and appeal with millennial consumers and affluent groups,” says Darren Tristano, vice president at Technomic (a data food research company). Chipotle, the most popular of the Mexican quick-service restaurants, just reported a sales increase of 6.2 percent since last quarter.
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