If you’re considering owning a restaurant, or if you already do, keeping up with industry’s trends and consumer demands is a great way to see what’s working and what isn’t. Morgan Stanley recently released a list of restaurants that are set to out-perform the rest of the sector over the next five years.
These 5 chains, which are popular with millennials, are the big winners:
- Starbucks. It continues to expand and grow into other areas, including health and lifestyle products in grocery stores. It’s also expanding through its mobile app and loyalty program.
- Chipotle. This hugely successful fast-casual chain is expanding it’s catering business as well as investing in Asian ShopHouse and Pizzeria Locale concepts.
- Dominos. With its reinvented menu, Dominos is now the world’s hottest pizza chain. It’s also aggressively investing in mobile and online technology, plus it’s planning a huge international expansion.
- Panera Bread. With a new strategy called Panera 2.0, this chain is adding kiosks for ordering, in-store pick-up, expanded catering capabilities, and higher customer satisfaction.
- Buffalo Wild Wings. Already one of the fastest growing restaurants in this sector, it’s stepping it up with tablet order and payment methods, plus more options for beer and wing sauces.
“The restaurant sector is becoming increasingly competitive … And a number of fast-casual establishments are threatening traditional fast-food and casual-dining restaurants.”