Posts Tagged ‘Food Industry’

Are You Hungry Yet?!

May 24, 2014

As we begin this long holiday weekend, why not allow our thought to drift into the realm of eating, drinking, and being merry?  Just FYI, did you know that the average American household spends $6,599.00 on food each year?  Hmm, I fear I am way above the average.

  • $3,921.00 dining in, and
  • $2,678.00 dining out.

When you consider the U.S. retail grocery store and supermarket industry (40,245 stores), their revenues totaled around $650 .1 billion for 2013, and that doesn’t include the wide variety of stores other than supermarkets.  Consider other outlets such as some of the non-traditional food sellers (Sam’s Club, Costco,  and the dollar stores) — their revenues are estimated in the range of 435.0 billion.  Additionally, there are the more that 155,000 convenience stores (not including gasoline sales) that bring in an additional $175.9 billion in revenues.  But what about the restaurant sector?  The revenues generated in this sector total $552.0 billion.  This brings the grand total to about $1.8 trillion just on the food and beverage (not counting the impact on employment — employment estimates: 1.5 million employed in food manufacturing, 0.7 million in wholesale distribution, 2.9 million in retailing, and 10.3 million in restaurants and bars).

Wow, what a lucrative industries.

Source: Plunkett’s Food Industry Almanac 2014 Edition