The latest report by restaurant management consultants puts fast casual segment with continued growth despite the economy. Fast casual restaurant traffic in the USA has grown 6%, 4% and 7% respectively in the last three years, unlike other segments that report lower or even negative growth patterns. According to the NPD Group/CREST: “NPD’s “Fast Casual: A Growing Market” report also found that consumer demand for fast-casual dining outpaced the industry’s rate of expansion, and several chains in the segment have built strong customer loyalty.” “Many fast-casual concepts were positioned as a fresh, made-to-order alternative to traditional fast food options, and consumers responded positively,” said Bonnie Riggs, NPD restaurant industry analyst. “The segment benefited from fast-food consumers trading up and full-service consumers trading down.” Read more on what other findings these restaurant management consultants found. One of the most popular fast casual restaurant chains is Panera. According to this recent Nation’s Restaurant News restaurant advisory – “its revenue rose 15.8 percent, to $495.8 million, from $428.2 million in the previous year.” As part of its restaurant plan, Panera will also start offering table service and drive thru service at several of its locations in 2012. Note: Restaurant management consultants define fast casual restaurant as similar to a QSR (i.e. quick service restaurant) that does not offer table service. It is positioned between the fast food (i.e. McDonald’s) and casual (i.e. Marie Callander’s) dining segment. It offers higher quality than QSR restaurants with price points in the $8 to $15 average check range.
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