Full-service restaurants saw an important rebound in value sales in 2021, achieving important recovery of the losses incurred in 2020, but being unable to return to the 2019 level of sales. Increased spending power over the year, powered by three pension fund withdrawal opportunities and continued government monetary aid, meant that Chilean consumers had greater ability to afford out of home consumption over the year, taking advantage of good promotions and the reopening of outlets throughout the country.
The strong availability of funds not only increased consumer consumption, but also allowed individuals to pivot their economic activities and start foodservice businesses – not only in the independent sector, but also through access to brand franchises, as well as the refocusing of idle kitchens to launch virtual restaurants. The ever-evolving preferences of Chilean consumers also meant that new cuisines slowly gained ground over the year, with Mexican food seeing a resurgence, and more health-focused menus gaining ground, complemented by locations catering to more varied dietary requirements, such as gluten-free products and vegetarian/vegan options.
Full-service restaurants found opportunities by concentrating on ways to deliver the experience of dining in their outlets to the home, making this part of the ordering process. Offering exclusive online products, adding pre-determined mini menus, and connecting with consumers in the post-sale experience through social media, are all strategies that can make players stand out and encourage repeat purchases.
Online ordering will continue to be an important element of the development of full-service restaurants, especially as consumers have become accustomed to the ease of using apps to order, increasing the instances and situations when they order food from restaurants. Over the coming years, full-service restaurants will need to continue investing in improving their delivery capacity.
An initial rebound in expenditure in full-service restaurants was seen in 2021, based on increased visits by consumers enjoying more liquidity. However, increased operating costs will continue to affect the industry in general over the forecast period, as inflation is expected to continue to increase over 2022, driving rises in raw materials prices, rents and salaries, amongst others.
To compete in an increasingly saturated market, chained and independent players are looking to make things easier for their target audience. One step has been to limit the menu options, which allows not only for faster preparation times by limiting the demands on kitchen staff and allowing for better planning, but also opens up the possibility of working out of dark kitchens, limiting the initial spending on a brand launch.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Full-Service Restaurants industry in Chile 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 Full-Service Restaurants industry in Chile, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Full-Service Restaurants
FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).
See All of Our DefinitionsThis report originates from Passport, our Full-Service Restaurants research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!