The restaurant industry is growing and thriving. According to data sourced from thousands of restaurants using the BentoBox Marketing & Commerce Platform, restaurant spending was up 6.7% in 2023 and 10,608 new restaurants opened across the United States; the industry saw restaurant openings surpass levels before the pandemic for the first time.
That doesn’t mean restaurateurs are entirely breathing easy. Most report that eateries are less profitable than pre-pandemic days, thanks to rising product and labor costs. The overall forecast for 2024 looks good, however, with the National Restaurant Association projecting over $1 trillion in restaurant sales this year for the first time in history.
One way restaurants are taking advantage of the uptick is to invest in their wine programs, rebuilding cellars that many tapped during the pandemic as a source of income while their doors were closed. After those few years spent downsizing their lists to control costs, they are seeing value in refreshing those programs.
And importantly, they are deepening the relationships they have with wineries and winemakers. From curating wine dinners to creating private wine labels, restaurants are looking to expand what they offer their customers as they lay the groundwork for continued growth.
Recognition Is Due
Restaurants that make wine a priority are what the Wine Spectator Restaurant Awards program is all about. It’s the only program focused exclusively on recognizing the best in restaurant wine service. Restaurants can earn one of three levels of recognition: Award of Excellence, Best of Award of Excellence and, the highest, the Grand Award.
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