Consumer foodservice through non-standalone locations outperformed standalone outlets in 2017, thanks largely to retail, which accounted for by far the largest share of non-standalone value sales. Although several new shopping centre developments were put on hold over the review period, many foodservice operators continued to prefer retail locations because of their high footfall and strong security measures in a country with a high crime rate.
Despite lodging posting the strongest current value growth in 2017, in real terms consumer foodservice through lodging was negatively affected by falling tourism in the country due to the operational problems of hotels. According to Fenahoven (Federación Nacional de Hoteles en Venezuela), in January 2016, its 411 members recorded an average occupancy rate of 53%, down nearly 3% on the previous year.
For standalone locations, a considerable share of sales take place during working hours, with street stalls/kiosks accounting for a large proportion of this due to their lower prices. In 2017, the economic environment deteriorated significantly, with the consumer foodservice industry impacted by difficulties obtaining ingredients and falling household budgets.
More than half of consumer foodservice value sales in the retail channel were accounted for by fast food outlets in 2017, led by Alimentos Arcos Dorados, which operates the McDonald’s brand in Venezuela. In fact, the company ranked first in consumer foodservice overall.
The economic crisis in Venezuela is forcing foodservice entrepreneurs to become ever more creative, with examples including new food trucks outside stadia hosting baseball matches. The cinema chain Cinex also launched Cinex Cheff during the review period to enable its customers to both eat and watch a film all in one place.
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Understand the latest market trends and future growth opportunities for the Consumer Foodservice by Location industry in Venezuela with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Consumer Foodservice by Location research and analysis database.
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