Technology and Experiences Will Shape the 2019 Restaurant Industry

Anyone familiar with retail knows that internet sales are threatening brick-and-mortar stores. However, in the service retail category, restaurants continue to grow and thrive. Along with other service retail, like fitness, tutoring, spas and salons, restaurants have been consistently in demand over the last decade, regardless of technological disruption or economic ups and downs.Our currently robust economy, which is expected to remain strong through 2019, has only increased American consumers’ desire for new and interesting dining experiences.According to the National Restaurant Association, roughly half of Americans’ food dollars go toward eating out. Why are Americans spending so much on dining? First, a majority of adults report they prefer to spend their money on experiences rather than tangible goods. Where better to spend time with loved ones (and spend disposable income) than at a restaurant? Second, consumers, especially millennials, value convenience above all else…