Business

The Global Demand For Fastfood Grows

We all need food to survive. If we don’t, we’ll gradually wither and die like plants do in the absence of water and sunlight. Our eating patterns, though, have changed greatly over the years. Back then, most people ate healthy, home-cooked meals daily. Mothers used to stay at home and prepare their family’s meals, but today, many of them have joined the work force to help provide for the family. Hence, the people resort to fast food for a quick and easy solution to feeding the entire family without overspending.

In America alone, fast food has become the preferred food of the public. They can just grab it and go. It is especially convenient for individuals who are juggling various jobs that require them to be always wary of the time. Today, fast food is all over the world. Even in countries that aren’t a big fan of fast food like China now have countless fast food joints scattered here and there. On top of that, food delivery is fast becoming a practice too similar to that in Western countries.

McDonald’s will nearly double the number of restaurants in China in the next five years, eventually surpassing Japan as the hamburger chain’s second-biggest market outside the United States.

The company expects to have 4,500 restaurants in China by 2022, up from 2,500. With fewer people eating at U.S. locations, it hopes to grow sales in China by double digits in each of the next five years.

Slowing traffic at home has other American companies turning to China for growth. Starbucks, for example, wants to have 5,000 coffee shops in the country by 2021, more than doubling its store count.

Some chains, however, have run into trouble in China. Yum Brands, the owner of KFC and Pizza Hut, spun off its 7,500 restaurants in China into a separate company after it failed to revive declining sales.

The announcement Tuesday from McDonald’s comes a week after it completed a previously announced deal to sell most of its operations in China. McDonald’s Corp., based near Chicago in Oak Brook, Ill., will keep a 20 percent stake in its China business.

(Via: http://registerguard.com/rg/business/35843587-63/mcdonalds-plans-to-nearly-double-restaurants-in-china.html.csp)

People want to get fed right away and don’t want to wait long for food. While the lines may get long in many of these joints, at least you can get your warm food right away soon after placing your order. People not only eat at certain times of the day but any time of the day now since most of us lead different lives. Some are day people while others are nocturnal by choice. Aside from making sure people are fed, fast food is likewise a great driver for the economy because people spend money when they buy food.

Restaurant jobs are on fire in 2017, growing faster than health care, construction, or manufacturing. The Bureau of Labor Statistics calls this subsector “food services and drinking places,” and the jobs are mostly at sit-down restaurants, which make up 50 percent of the category. Fast-food joints are the next-largest employer in the category, with 37 percent. Bars—wonderful, plentiful, but leanly staffed—account for just 3 percent. So, I’m just going to keep saying “restaurants” for short.

In some metros, restaurants are powering the entire economy. More than a third of Cleveland’s new jobs since 2015 are in restaurants, according to EMSI data. The same is true for New Orleans, but since 2010.

Unlike mining or manufacturing, which tends to cluster in a handful of regions, the restaurant boom is spread across the country. New fine-dining restaurants, which tend to require more waitstaff, are blooming in all the predictable places—San Francisco, Nashville, and Austin (the Texas capital leads the country in percent-growth of restaurant jobs). But restaurants are dominating local economies in a diverse range of places, from poor metros like Little Rock, to rich places like Washington, D.C., and military hubs like Virginia Beach.

(Via: https://www.theatlantic.com/business/archive/2017/08/restaurant-jobs-boom/536244/)

It is no longer surprising to see the rapid growth of fast food and other food-related businesses like restaurants. They have been increasing steadily over the years alongside the sudden burst in the population throughout the world. This growth actually benefits the economy but people working in this sector aren’t highly paid at all. You can’t even consider these jobs as sustainable as you can barely afford to pay for your daily expenses from your meager salary and some stores eventually close down. But it is obvious there is no stopping this industry from taking over the world and they do it so with our consent as we continue to patronize fast and greasy food in our day-to-day.

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