Amidst the challenging economic climate, fast food chains are striving to offer consumers healthier menus and be more transparent about the nutritional value of their products in order to help consumers make more informed decisions. The pioneer in this space has been McDonald’s with its “open door” policy.
The boom in low-cost airlines, retailers and gyms has also spread to fast food thanks to Tostao’ Pan & Café, a bakery fast food chain owned by the same operator of Justo y Bueno, a major discounter in Colombia. The brand has helped to strengthen bakery fast food, which was one of the best performing channels in 2017 thanks to good performances from other banners such as Subway and Sandwich Qbano.
As has been witnessed in juice/smoothie bars, which has seen a decline in value sales per outlet despite the ongoing growth of the channel, major ice cream fast food chains like Helados Mimo’s and Helados Popsy continued to be affected by weather, which, combined with the economic slowdown, led to a decline in value sales in 2017. As with the case of juice, soft drinks and even beer, the extended rainy season in 2017 adversely impacted sales of products which are largely purchased to refresh and quench thirst.
Even though Frisby, the leader in fast food, posted positive value sales growth in 2017, the company’s share declined slightly, as did that of other domestic chicken fast food chains such as Kokoriko, Cali Mio, La Brasa Roja and Cali Vea. Chicken continued to be a very important food, often shared by family and friends.
Despite the ongoing growth of fast food in Colombia, not all brands are performing well. An interesting offer has been the main strategy to achieve growth during the economic slowdown.
Impacted by competition from new value-for-money options, all major Asian fast food chains performed poorly in 2017. Brands like Toy Express, Sr Wok and Mr Lee closed some outlets due to competition from independent Asian fast food brands, especially those specialising in sushi and Thai food, with these being seen as offering more innovative alternatives than traditional Chinese cuisine, which has not changed in years.
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Understand the latest market trends and future growth opportunities for the Fast Food industry in Colombia 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.
If you're in the Fast Food industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Fast Food research and analysis database.
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