In 2024 and 2025, restaurants have become the primary drivers of retail growth in the U.S., accounting for nearly 3,000 of the 7,770 new retail locations announced during this period. Americans are now spending nearly half of their food budgets on dining out, a trend that has rebounded to pre-pandemic levels. Cities like Houston, Washington, DC, Los Angeles, Boston, and New York are leading this shift, with Houston residents allocating 60% of their food budgets to dining out.

The growing demand for dining out is reshaping retail real estate priorities. Landlords and developers are increasingly favoring restaurant tenants due to their ability to drive consistent foot traffic, making them more attractive compared to traditional retail stores.