Full-Service Restaurants in Greece

PROSPECTS

Polarisation in consumer foodservice negatively affects full-service restaurants

Full-service restaurants saw another consecutive year of current value decline in 2019, along with declines in outlet numbers and transaction volumes. However, the decline was slower than in several previous years, partly because the channel had already shrunk significantly, but also due to the rise in tourism.

Greek consumers are increasingly open to new cuisines

Greek taverns dominate full-service restaurants in Greece. Until recently, consumer awareness of other cuisines was low and Greeks were not keen to experiment with new flavours and exotic cuisines.

Home delivery set to expand with the arrival of Wolt

The entry of Finnish start-up Wolt in Greece in January 2019, starting in Athens, is expected to help boost sales of full-service restaurants via home delivery. Most full-service restaurants do not offer home delivery in Greece, due to the costs involved, with any players which do offer home delivery tending to use employees.

COMPETITIVE LANDSCAPE

Chains outperformed by independents, although some chains expand

In value terms, TGI Fridays ranked first in full-service restaurants, followed by La Pasteria, Pizza Roma, Palmie Bistro, Koi Sushi and Pizza Hut. However, this is a very fragmented channel, dominated by independent operators, with the vast majority of operators classified in European full-service restaurants, offering Greek cuisine.

Premiumisation affects the competitive landscape

The premiumisation trend seen in full-service restaurants is shaping the competitive landscape. The players that are performing the best are mostly upmarket.

Most chains fail to expand their outlet numbers

Although trends in pizza are far more favourable to home delivery/take-away than pizza full-service restaurants, the leading player in overall full-service restaurants in terms of outlet numbers in 2019 was Pizza Roma. However, it is closing outlets due to the competition with pizza limited-service restaurants.

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