Products and services segmentation in the U.S. fast food industry in 2013
U.S. fast food restaurant industry - additional information
The largest share of the fast food industry in the United States in 2013 was made up of on-premises limited-service restaurants. Drive-thrus and take-out establishments also constituted a large share at 34.4 percent and 18.1 percent respectively. In 2013, there were 232,611 fast food establishments in the U.S. This figure was forecasted to rise by more than 14,500 by 2018, potentially creating 124,367 new jobs in the industry.
In 2013, the annual revenue of the U.S. fast food restaurant industry reached 191.03 billion U.S. dollars. Only 3.3 percent of that figure was retained by the industry as profit. Almost a quarter of the industry’s revenue was spent on wages with the average fast food employee earning an annual salary of around 12,800 U.S. dollars. The already-low salaries of fast food workers decreased year over year from 2010 to 2013, sparking strikes and protests over low wages, such as those seen throughout 2013 and 2014. Despite the tensions, U.S. consumers were not deterred.
In November 2013, 82.6 percent of U.S. consumers admitted to visiting quick service restaurants at least once a week, with almost half visiting for lunch and just under a quarter visiting for their evening meal. Young consumers supported this trend too – 43 percent of U.S. teenagers prefer to eat at quick service restaurants.