Full-service restaurants were heavily impacted by the outbreak of COVID-19 in 2020, with closures and ongoing restrictions leading to a value decline of 33%. As the main value offer of these outlets is a dine-in experience, meals offered through delivery were not as in demand as they were from limited-service players.
Restaurant chains, especially those located on the street in the open air, began functioning in the country in September. Opened started in Bogotá, with a program called Bogotá a Cielo Abierto, which allowed the opening of restaurants on the streets and in the open air, as long as reduced capacity was implemented, and social distancing was maintained.
Crepes & Waffles, the leading brand in European full-service restaurants, as well as in overall full-service restaurants, has demonstrated itself to be an innovative model. It has gained important recognition over the years to become a key domestic brand within consumer foodservice, whose offering differs from that of any other participants in the channel.
Full-service restaurants will record a positive recovery over the forecast period, aligned to the roll-out of a vaccine, and consumers feeling confident to socialise once more. In addition, international tourism, which has been one of the sectors hardest hit in the pandemic, significantly impacted city restaurants in 2020.
Restaurants have invested in the development of their delivery channels in 2020, and this is expected to continue throughout the forecast period, as the outbreak of COVID-19 accelerated the delivery trend. However, it is necessary for restaurants to differentiate their offer from limited-service restaurants.
Colombian consumers will be looking for unique and memorable experiences in consumer foodservice. This will lead to the continued focus on boutique and single outlet brands, responding to this demand.
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Understand the latest market trends and future growth opportunities for the Full-Service Restaurants industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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