Its revenue has grown more than 30 times since then. A lot has happened in less than fifty years. However, the fast food industry has responded well to these changing trends. The restaurants have adopted healthier menus.
The trend of eating fast food is not new and it started in the late s. The fast food is basically the food sold in restaurants with the precooked or preheated ingredients.
The food menu is served to predefined customers in the form of take away. Although people are becoming more and more conscious about health, still the growth of fast food industry has not been affected. Now people want to stay in shape so they are avoiding junk food but the industry has responded and catered to customer needs effectively.
The restaurants are offering healthy menus consisting of low calorie dishes. Fast food is a global industry generating billions of profit. However this sector has also faced challenges from changing trends and laws. These trends may range from innovation to marketing and customer service.
There are other political, economic, technological and legal factors that affect the industry too. Political Factors Politically balanced atmosphere and environment has a great importance in the decisive or productive fast food business. These factors vary from one country to another.
The political regulations as hygiene, food quality and wages require the fast food companies to comply with the standards. The high or labor costs determine the wage rates in various countries.
The government may change packaging regulations and addition of healthier items in menus anytime. The performance of business is therefore affected by the attitude of government towards that business.
Economic Factors While economic recession has affected many businesses at global level, it has brought significant influence to fast food industry as well. Due to increased spending per consumer the restaurants have focused on improved customer service and cheap menu options.
Customer love junk food for its deliciousness but health consciousness among people has affected the sales. Now brands have to provide more convenient and cheap food items for attracting and retaining customers.
The successful industry can only be satisfied if the fast food services are operational, systematic and dynamic in nature. Economic surrounding is main concern of any system.
The increased variety of products on the food chain menu has also been done to adjust with recession in a more effective manner. The economic conditions in any market have always influenced the individual spending on fast food.
Social Factors Customers have shown complex behaviors regarding international and local market.
The dynamic or modern behavior of fast food chains is easily adopted or accepted by customers. Lifestyle and health trends put a major influence to fast food industry. Now people are thinking before eating. Social media has played major role in creating and increasing the health awareness among people.
Before it was thought that fast food industry is destroying young children health. People are avoiding junk food for high calories. These trends have put the industry sales at risk.Pest Analysis For Fast Food Industry In Us Posted by Anonymous on 4/25/ at PM ET Points i am doing a case staudy report on Panera Bread Company, which is an United States based company.
i need the PEST analysis regarding this company. Jun 14, · This is the in-depth analysis of Fast food which have been growing with fast pace however, it has been facing challenges due to some external factors as explained in this article.
The trend of eating fast food is not new and it started in the late s. The fast food is basically the food sold in restaurants with the precooked or. Fast Food Industry PESTEL Analysis The popularity of fast food does not cease to increase.
Despite the rising health consciousness in society, the industry has shown healthy growth. reports made about the fast food industry in general and McDonald in particular, including a number of studies that have suggested fast food addiction shares many of the same characteristics as drug addiction (Garber and Lustig, ; Volkow and Wise, ).
Pest Analysis Fast Food Retail Sector Introduction Political Factors McDonald’s food safety is of a very high-quality and is recognised as one of the best in the fast food retail sector. Fast Food Industry PESTEL Analysis. September 9, By Abhijeet Pratap Filed Under: Marketing, pestel.
Tagged With: fast food, fast food industry, fast food industry PEST, fast food industry PESTEL. Thanks for using CHESHNOTES! Read data and stats of various brands on Statrack! Related Post. PESTEL/PESTLE analysis of Wendy’s.