60% of new restaurants close within the first year of operation, and around 80% do not make it past their fifth year. We discuss the market data in this article
60% of new restaurants close within the first year of operation, and around 80% do not make it past their fifth year. With that rapid change, tracking market dynamics has never been more important for food companies and suppliers to prioritize and plan their go to market strategy.
There are 905,000 restaurants/ Cafe's in the U.S as of the 4th quarter of 2023. That's about 1 restaurant / face for every 365 people.
There are 50 states in the U.S., the distribution varies heavily with California having 101,595 Restaurant / Cafe or over 11% of the total market.
Texas on the other hand contain 102,984 restaurants which is close to California in numbers.
New York State has 57,528 restaurants / cafe establishment or 6% of the market.
A website is the digital cornerstone of a restaurant's success, with 70% of diners stating they're more likely to visit an eatery after exploring its website online.
616,451 restaurants out of 905,000 have a website or an online visibility page such as instagram of facebook.
💡68% of restaurants / Cafe's have online presence either as a website of social media profiles
Over 43,000 restaurants use facebook pages without having a website as their branding
47,489 Restaurants / Cafe's closed in the past two months alone, we labeled all those restaurants that closed including their location on the map.
💡5% of restaurants closed in July, Aug. 2023
💡27,751 restaurants / cafe's (2%) advertise on other websites or local news websites.
Here are our top pick from usecases prespective
Access to restaurant POI data enables precise targeting for marketing campaigns, allowing companies to reach potential clients with tailored messages based on location and cuisine type.
Analyzing restaurant locations and trends can provide insights into local food preferences, helping companies adapt their product offerings to meet specific regional demands.
Knowing where restaurants are concentrated allows companies to establish strategic partnerships with local eateries, such as co-branded promotions or supply agreements.
POI data helps identify areas with a high density of restaurants, presenting opportunities to launch new products or flavors through collaboration or distribution agreements.
Understanding the distribution network of competitors' products can inform companies about market saturation and areas of potential growth.
Mapping restaurant locations aids in optimizing distribution routes, reducing delivery times, and ensuring fresher products reach consumers.
By identifying underrepresented regions, companies can plan their market expansion efforts more effectively, targeting areas with untapped potential.
Access to restaurant data provides insights into local food trends, enabling companies to align their offerings with popular tastes in different areas.
Studying restaurant density and growth patterns helps companies anticipate demand fluctuations and plan production and distribution accordingly.
Collaborating with restaurants based on POI data can lead to interactive marketing campaigns, loyalty programs, and events that engage end consumers directly.
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