Panera Bread Assessment
Assignment #3
Panera Bread – Company’s Assessment
November 9, 2014
INDUSTRY - RESTAURANT INDUSTRY (QUICK SERVICE RESTAURANTS)
Muhammad S. Khan (500335915)
Yafit Shimoni (500163226)
Andrea Stefekova (500170337)
Susan Tokhi (500456375)
Sushant Rampal (500530630)
Ileana Murray (969002450)
Introduction
The restaurant industry in the U.S. is robust with sales revenue expected to reach $632 billion in 2012, with 970,000 dining establishments. Participants differentiate themselves in the areas of pricing, food quality, food offerings, and ability to adapt to changing consumer needs, use of technology, atmosphere, and service in order to stay competitive. Panera Bread (“Panera”), a bakery-café, has been effective in differentiating itself in …show more content…
PESTEL ANALYSIS
POLITICAL FACTORS: N/A
ECONOMIC CONDITIONS
The 2008-2009, recession had an impact on the expansionary objectives of food retail outlets in the U.S. as consumer spending declines during recessionary periods.
Restaurants were the second largest employer in the U.S. in 2012, with about 12.9 million employees. During the 2008-2009 recession, 366,000 people in the industry lost their jobs.
By mid-July 2011 weaker economic conditions still persist underpinned by a 7% decline in the S&P 500 and the Dow Jones Industrial Average. For example, Panera’s bread stock price dropped sharply from $129 to $112.
Unemployment rate still remains at a high 8% affecting consumer spending.
SOCIO/CULTURAL
Growing demand for healthier, nutritional, low-calorie, low-carb and heart-healthy meals.
People are becoming more environmentally conscious and are choosing to eat more at restaurants that offer organic, seasonal and locally grown food.
DEMOGRAPHICS
The average consumer is the working age consumer and older adults.
The targeted consumer group are children through the offering of children’s
Panera Bread – Company’s Assessment
November 9, 2014
INDUSTRY - RESTAURANT INDUSTRY (QUICK SERVICE RESTAURANTS)
Muhammad S. Khan (500335915)
Yafit Shimoni (500163226)
Andrea Stefekova (500170337)
Susan Tokhi (500456375)
Sushant Rampal (500530630)
Ileana Murray (969002450)
Introduction
The restaurant industry in the U.S. is robust with sales revenue expected to reach $632 billion in 2012, with 970,000 dining establishments. Participants differentiate themselves in the areas of pricing, food quality, food offerings, and ability to adapt to changing consumer needs, use of technology, atmosphere, and service in order to stay competitive. Panera Bread (“Panera”), a bakery-café, has been effective in differentiating itself in …show more content…
PESTEL ANALYSIS
POLITICAL FACTORS: N/A
ECONOMIC CONDITIONS
The 2008-2009, recession had an impact on the expansionary objectives of food retail outlets in the U.S. as consumer spending declines during recessionary periods.
Restaurants were the second largest employer in the U.S. in 2012, with about 12.9 million employees. During the 2008-2009 recession, 366,000 people in the industry lost their jobs.
By mid-July 2011 weaker economic conditions still persist underpinned by a 7% decline in the S&P 500 and the Dow Jones Industrial Average. For example, Panera’s bread stock price dropped sharply from $129 to $112.
Unemployment rate still remains at a high 8% affecting consumer spending.
SOCIO/CULTURAL
Growing demand for healthier, nutritional, low-calorie, low-carb and heart-healthy meals.
People are becoming more environmentally conscious and are choosing to eat more at restaurants that offer organic, seasonal and locally grown food.
DEMOGRAPHICS
The average consumer is the working age consumer and older adults.
The targeted consumer group are children through the offering of children’s