At the beginning of 2018, the inflation rate was 16% with a stable dollar, and consumer foodservice enjoyed a positive situation. From May, however, the outlook changed drastically, the dollar doubled its value and the annual inflation ended up being almost 48%.
Several companies, including the main fast food chains McDonald’s, Burger King and Mostaza, have developed their own apps to offer discounts and benefits to their customers, whilst some have developed benefit systems giving customers points that can be exchanged for products, such as Starbucks Rewards. The app Restorando, an online reservation platform for restaurants with discounts, is constantly adding new brands and is increasingly used by customers seeking benefits through its use.
Until 2017, the only delivery app in Argentina was pedidosya.com, which originally worked as a marketplace.
Independent consumer foodservice was more affected than chained consumer foodservice because the former category’s players are much smaller and have lower budgets to run marketing actions or special promotions than chained outlets, which developed aggressive promotions and different marketing strategies. They were also much more affected by the increases in inflation and tariffs because they are generally family businesses with much lower profit margins.
The expectations for the forecast period are quite uncertain because 2019 is an election year in Argentina, and there may be a radical change of the government party and therefore its economic measures. The rate of inflation for 2019, according to the budget approved by the national congress, will be 23%, however private consultants are already projecting a higher rate.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Foodservice by Location industry in Argentina with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Foodservice market research database.