The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMay 2014
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After years of consistency in the central trends driving growth in foodservice, 2013 saw some changes. Consumer preferences changed in many key markets, with the global growth story shifting to new areas of focus, categories evolving in new directions, and operators being forced to take a new look at their positioning and expansion plans, and adapt accordingly.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Many key developed market trends shifted direction in 2013, leading to disappointing years for some key operators and a need for a change in corporate strategy. Many of the tried-and-true growth markets, like China and Brazil, also experienced difficult years due to rising chained competition, low confidence among consumers and changing preferences, leading to a decline in chained performances.
As these major emerging markets struggled, the focus shifted to new longer term growth prospects, as operators sought to broaden their portfolios. Latin America, India, the Middle East and parts of Southeast Asia emerged as prime growth targets, offering smaller opportunities but very long runways for growth.
Fast food, in particular, seemed to evolve in 2013, with customers in developed markets moving in two distinct directions. In the US, one faction of the fast food consumer base showed a willingness to spend more freely in search of higher quality foodservice experiences, driving growth in fresh casual and other flexible casual dining options. Simultaneously, another faction reverted to even greater price-consciousness, showing a preference for value menu items and the core benefits – speed, convenience, low prices – that made fast food popular.
Operators are also finding that consumers in major markets worldwide are becoming more sophisticated and homogeneous in their dining preferences. Young, urban consumers all over the world are seeking out similarly exciting dining experiences, driving foodservice trends along the way.
Technology continues to be a major factor in all global markets. Chains are innovating with mobile ordering channels, and new in-store technology.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.