华利安（Houlihan Lokey）：2024美国餐饮行业冬季更新报告（英文版）（13页）.pdf

1、Winter 2024U.S.Restaurant Industry UpdateRestaurant Market From 30,000 Feet2Restaurants with clearly defined value propositions remain well positioned for growth entering 2025.0102050403Bifurcation of Performance PersistsWage growth continues to trail inflation,keeping consumers price-sensitive and

2、limiting their discretionary spending.Concepts striking the right balance between value and quality are seeing traffic gains and winning.Operators should realize profitability lift as inflation normalizes heading into 2025.Consumers Still Value Food-Away-From-Home With Some ConditionsFood-away-from-

3、home has been more impacted by inflationary conditions than food-at-home(by as much as 270 bps),which further applies pressure to restaurant traffic.Consumers continue to seek value,gravitating toward concepts that balance price,quality,and convenience within their unique value propositions.Categori

4、es Getting the Most Attention:Chicken,Coffee,Smoothie,EthnicIn terms of food categories,chicken,coffee,smoothies,and ethnic options(e.g.,Greek,Hawaiian,Asian)are garnering significant attention from consumers and investors.Ethnic flavors are particularly popular as consumers diversify their palates,

5、with Millennials and Gen Z especially favoring bold flavors.Every Marginal Dollar MattersDriving Comps:Strategic price updates where customers will accept them to drive an increase in ticket size.Loyalty Programs:Leverage discounts,personalization,and bundling to retain customers.Labor Efficiency:Op

6、timize staffing and accelerate kitchen automation to reduce operating expenses.Real Estate Strategy:Those with flexibility of format winning in todays real estate market.Rates Are Easing,Outlooks Are ImprovingThe Federal Reserves recent 75 bps rate cuts,coupled with slowing inflation and a cooling j