In: Economics
what are some good economic factors to discuss in Quick service restaurants (fast food) analysis? Think of this as the opportunity to discuss the '30,000-foot view'. At least 5-10 points. fast food analysis research regarding economics. please provide main points with explanations to include in the research regarding the topic of fast food and its relationship to the economy. example could be effective marketing, quality, effective operation. explanations are important.
Starting with the 30,000-foot view, in the recent times the food industry in U.S. has been increasing owing to an increase in disposable income of the middle class. In 2018 Global Quick Service Restaurant Market valued nearly USD 11.18 billion and is expected to grow with a healthy rate of growth of more than 7.61% in forecast period from 2019-2026. Despite the increasing concerns on the health for the people, this specific industry goes higher and higher in growth every year. The fuel that is cause for a rise in this growth is the insatiable admire that consumers around the globe have for fast food
With advanced marketing techniques on electronic gadgets and systems in the quick service restaurant industry, there is an increasing demand. Also when delivery of orders on time forms the core of success and customer relations are good which the substantial driving factors of the market are during the 30,000-foot view (forecast period). Furthermore the growing adoption of mobile payment solutions is widening the market. Moreover, surging adoption of innovated technology in fast food restaurant in emerging economies is the factors contributing to create several opportunities in the near future. North America is the significant/leading region across the globe in terms of share in the market due to an increasing number of quick service restaurants in the region and heavy demand for ready-to-eat meals among consumers