Full-Service Restaurants in Greece

PROSPECTS

Full-service restaurants sees improved performance

Full-service restaurants has been the channel most severely hit by the economic downturn, as consumers have increasingly shifted to more affordable dining options. However, it showed signs of recovery in 2017 and 2018.

Greeks are experimenting with new flavours

Whilst local cuisine remained the most popular choice, Greeks were more willing to try ethnic cuisines and unusual flavours. Asian and Middle-Eastern full-service restaurants thus recorded a positive performance, with both channels benefiting from their low penetration.

Popularity of North American full-service restaurants increases

The trend for burgers continued to gather momentum, boosting value sales of independent North American full-service restaurants, a category that only recently started to develop in Greece. Chains on the other hand lost ground due to competition with independent operators, which attracted consumers by promoting their offerings as more premium and keeping their prices at affordable levels.

COMPETITIVE LANDSCAPE

Traditional Greek full-service restaurants (tavernas) are losing ground

Full-service restaurants is a channel dominated by independent operators, the vast majority of which are European full-service restaurants that offer Greek cuisine. Over the review period Greek tavernas saw their sales decline significantly as consumers shifted away from restaurants and towards fast food.

Modern Greek full-service restaurants are on the rise

Popularity of more modern Greek full-service restaurants continued to increase in the context of the premiumisation and localisation trends that are gathering momentum in Greek cuisine.

Chains only claim a fraction of sales

Presence of chained players remained marginal in full-service restaurants in 2018. TGI Friday’s ranked first, followed by La Pasteria, Pizza Roma, Palmie Bistro and Pizza Hut.

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