Consumer foodservice grew in 2024 despite economic uncertainties and high inflation. Transactions recovery shows high demand but consumers are trading down and spending cautiously. Digitalisation assists restaurant operators to make strategic decisions and navigate market challenges and consumer preferences. Consumer expectations are for added value and ensuring their money is well spent. High competition creates a dynamic environment with constant innovation in products, services and occasions.
This report comes in PPT.
The global consumer foodservice industry is on the path to recovery, driven by robust growth in the Asia Pacific region, as well as in chain and limited-service segments. While high inflation in many markets has helped value sales bounce back to 2019 levels in current terms, it is anticipated that constant sales will not fully recover until 2026.
In the wake of significant changes in the labour market, including migration issues and younger generations choosing different types of jobs, along with rising wages, many markets have faced challenges in filling positions. To tackle these issues, many restaurants are turning to technology to reduce their reliance on labour.
Brands are increasingly launching delivery apps and loyalty programmes which allow them to gather extensive data on customer preferences and behaviours. This wealth of information presents a valuable opportunity for personalisation, enabling brands to tailor their offerings to individual customer needs, customer experience, innovation and new product development.
Although many global chain brands have not seen the same growth as in previous years, digitalisation remains crucial for players like McDonald’s Corp and Yum! Brands. Innovations such as self-service kiosks, digital recognition, and voice automation in drive-throughs provide a competitive edge and drive omnichannel growth.
Drink-related categories are booming, particularly in the Asia Pacific region, where chains like ChaPanda and Luckin Coffee have shown the highest growth. These products remain an affordable luxury for consumers seeking indulgence and opportunities for socialisation.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.
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