Full-Service Restaurants in Chile

PROSPECTS

Chile: The gastronomic hub attracting international players

Chile has historically been perceived as the main economically stable country in the region due to its commercial openness, investment incentives and constantly rising consumption levels. Due to a combination of steady GDP growth over the last decade and greater gastronomic influence from waves of immigration, local consumers have expanded their palates to new flavours as they are willing to pay more for greater experiences creating huge opportunities for new cuisines to enter a growing competitive market.

Full-service survived the social storm

Social unrest dramatically impacted the Chilean economy during the last quarter of this period, undermining several industries’ annual performance. This has strongly influenced consumption as economic uncertainty has prevailed due to increasing unemployment rates, leading to more conscious expenditure behaviour from Chilean consumers.

Foodservice aggregators, a forced ally for chained players

Digitalisation has impacted almost every industry and category, and full-service restaurants is no exception. Delivery aggregators have revolutionised the foodservice industry enabling greater touchpoints with consumers leading to more consumption occasions and therefore greater business opportunities, if the restaurant has the capacity for such volumes.

COMPETITIVE LANDSCAPE

Upselling to the top

As Chile keeps growing as a gastronomic hub, international players seek new opportunities despite the unstable local situation. Such is the case with Grupo Civitano, which arrived in the country via several chain acquisitions in 2019.

Independent players boost awareness through social media competitions

Digital solutions have transformed the way we communicate and interact and also modernised the way companies communicate as well. Through social media, both chained and independent players can introduce new products and generate brand awareness, albeit at different levels given the budgetary differences between them.

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