Overall consumer spending rose during the first quarter, and within the restaurant industry, the quick-service segment led growth, according to a report by First Data, an electronic payment processing provider. Here are three highlights from the report:
1. When it came to restaurant spending, the quick-service segment led growth, with consumer spending rising 6.6 percent in the first quarter. Upscale dining logged the weakest performance, with spending down 1.7 percent.
2. While quick service was the top dog of the quarter, spending growth at casual-dining, family-dining and fast-casual restaurants remained in positive territory, ranging from 1.2-percent to 2-percent growth. Fast-casual spending improved over the fourth quarter of 2017, but casual dining and family dining recorded declines.
3. Across all industries, e-commerce spending outpaced brick-and-mortar locations. E-commerce spending rose 8.7 percent year over year during the first quarter, while brick-and-mortar spending grew 3.2 percent.
Click on the DOWNLOAD button to access the First Data report.
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