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Editor's note: The following information is part of a countdown recap from the inaugural Top 100 Movers and Shakers publication. It was published in the spring of 2012. Some of the information may now be different.
Restaurant operators, like everyone else, are tired of hearing woeful economic news. And while the outlook is more positive than it’s been in years, spirits remain dampened, operators remain anxious and consumers remain frugal. The latter is an especially big concern for the Top 100 advisory panel.
Some even listed “the consumer” as the “person of the year.” “How much consumers are willing to increase their away-from-home spending after being conservative the last few years will make a big difference to the pizza segment this year,” one panelist wrote.
However, history has proven that even in a slow economy, consumers will always crave pizza. According to IBISWorld, from 2007 to 2012, the segment's revenue growth rate was 1.5 percent — slow, but growth nonetheless. The rate is expected to pick up significantly moving into the next five years. The report estimates in 2012, revenues will jump to 4.5 percent as consumer confidence in the economy improves.
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Topics: Top 100
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