As the pandemic continues to challenge some markets, new obstacles are emerging in the form of labour shortages, rising costs and inflationary pressures. To remain competitive, players must focus on delivering value for money while adapting to changing consumer needs and fostering loyalty. Mobile ordering is becoming increasingly important, presenting an opportunity for businesses to streamline their operations and enhance customer experiences. Navigating these complex and interconnected issues
This report comes in PPT.
The pandemic saw chains gain market share due to their ability to adapt to drive-through, delivery and takeaway services. Independent players are seeing a resurgence in business, but chains still hold a 4-percentage-point advantage over their pre-pandemic 2019 market share.
While facing increasing costs, operators need to re-evaluate their value proposition and adapt to changing customer needs due to the increasing cost of living and economic uncertainties, which haves caused consumers to become more judicious in their spending and place a greater emphasis on obtaining value for their money.
Key players are focusing on improving their mobile apps, loyalty programmes and rewards systems to engage customers and promote digital adoption. By providing valuable rewards and regular engagement, companies can create strong relationships with consumers and turn them into brand advocates.
Staffing issues impacting the consumer experience, brand relationship and customer loyalty result in industry players actively adopting automation and advanced technologies for greater efficiency and smoother consumer experiences.
Partnerships proved to be a rapid response to the changes brought by the pandemic, allowing efficient home delivery services. However, with rising costs, a growing need for control over the consumer experience and data collection, restaurants aim to shift ordering to their own apps, even if the delivery process may still involve external partners for final delivery.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.See All of Our Definitions
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