The allure of the all-you-can-eat buffet has captured the attention of Americans across the nation. For many, childhood memories of suburban buffets or indulging in unlimited crab legs during a trip to Las Vegas come to mind. Despite challenges posed by the COVID-19 pandemic, the buffet restaurant business in the United States generated over $5.5 billion in revenue in 2022, a significant increase from the $3.98 billion recorded in 2020.
Buffets Battle Pandemic Setbacks
When the pandemic hit and stay-at-home orders were lifted, many establishments hesitated to reintroduce buffets due to the difficulty of maintaining strict sanitary measures in a self-serve environment. However, the buffet concept has rebounded rapidly in recent years. While the total revenue from buffets still falls short of pre-pandemic levels, it has shown steady growth between 2021 and 2022.
Golden Corral Leads the Charge
Golden Corral, a national buffet chain with nearly 400 locations, experienced a remarkable 14% growth in same-store sales from 2020 to 2023. According to Golden Corral CEO Lance Trenary, customer sentiment played a crucial role in the increased demand for buffets.
Customers not only missed the buffet experience but also appreciated the value it offered. With lunch and dinner prices ranging from $10 to $16, patrons could fill their plates with a wide variety of foods, including fried chicken, burgers, and salads, at a significantly more affordable price than dining out or cooking at home.
Buffets Provide Value Amid Food Inflation
Rising food prices have affected individuals across different income brackets, leading them to seek alternatives to combat inflation. A study conducted by Omaha-based insurance company Breeze revealed that 73% of U.S. households have cut back on restaurants and takeout, while 57% have made changes to their grocery shopping habits.
Buffets, with their all-you-can-eat format, have become a popular choice for maximizing value during restaurant visits. Traffic analytics company Placer.ai reported that buffet restaurants experienced significantly stronger foot traffic compared to the overall restaurant industry.
Leading Buffet Chains Thrive
The three largest buffet chains in the country, Golden Corral, Cicis, and Pizza Ranch, witnessed a surge in customer visits. Combined visits to these chains increased by 125% in March 2023 compared to the previous year. Moreover, the number of customers visiting twice within a single quarter rose by more than 20% for all three chains.
As food prices continue to rise, buffets offer a solution for individuals and families aiming to maximize their dining experience without breaking the bank. The appeal of unlimited options and the ability to fill one’s plate with a wide range of dishes make buffets an enticing choice for those seeking both value and variety. Despite the challenges posed by the pandemic and inflation, the all-you-can-eat buffet remains a resilient and popular dining option for Americans nationwide.
Check out this couple’s first time buffet experience at Golden Corral: