The Australian Restaurants industry has faced difficult trading conditions over the past five years. Declining household income during the global economic downturn, rising unemployment and low consumer sentiment caused demand for the industry to plummet. Consumers became vigilant in their spending by choosing to cook at home rather than eat out, and they sought value for money in food purchases. This reduced the frequency of restaurant visits and lowered spending on high-margin menu items, thus prompting a fall in industry revenue over 2008-09. Overall, these factors have restricted growth over the past five years, with revenue expected to increase at a compound annual rate of 0.4%.
This industry includes restaurants that serve food and beverages on the premises. The report covers the following business types: licensed restaurants, BYO restaurants, licensed and BYO restaurants, and unlicensed restaurants. This industry excludes takeaway food services, restaurant and catering services, theatre restaurants and the sale of alcohol for consumption on and off premises.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.