American Restaurant Chains Suffered in 2018 and Things Aren’t Looking Good Next Year, Either

For U.S. restaurants, 2018 taught some tough lessons. And if the industry isn’t careful, 2019 could be even more punishing. A recent Bloomberg article examined how restaurants fared over the last year and how next year is shaping up. In short, challenges abound and will continue to.

Restaurant chains, in particular, were negatively affected by industry changes in 2018, due in large part to consumer habits shifting more toward customization and delivery. Coupled with an increase in minimum wage occurring in more and more states across the country, restaurant profits are likely to decrease in the wake of higher food and labor costs.

In challenge, however, there is opportunity. The article highlighted several industry factors that, when embraced, have the potential to mitigate struggles in 2019 if approached strategically. For one, through technological investments and third-party deals that make delivery possible, restaurant chains have access to a wealth of customer data that can be tapped into when weighing future decisions.

Read the full article here.