During the review period, the growth of the full-service restaurants has been partially assisted by the growth of fintech companies, such as GoPay and OVO, which offer consumers discounts or cashback as a means of promoting their products. Indonesia’s increased urbanisation and a rise in the number of office workers and the consequent growth of disposable income and household consumption has also benefited full-service restaurants.
Full-service restaurants can be divided into two groups, namely those that cater to the middle-high to high end of the market, and those that target the lower-income group. Both groups have a different impact on the category as a whole.
Over the forecast period, it is predicted that full-service restaurants will continue to grow positively, but at a declining rate as consumers are increasingly inclined to dine somewhere that offers a fast and quick service. Due to the promotions offered by the fintech companies during the review period, consumers are moving towards cheaper snacking options which can be enjoyed on the go, including when strolling around shopping malls.
Due to the large number of outlets and its long-established brand, Pizza Hut is the leader in full-service restaurants. It is considered as the pioneer that established the market’s awareness and liking of pizza.
The growth of limited-service restaurants will continue to overtake that of full-service restaurants over the forecast period due to the vast growth of third party delivery apps such as Go-Jek’s Go-Food, which has dominated the nation’s food delivery market. Also, Indonesian consumers are increasingly preferring the casual and quick service format due to its convenience and their busy lifestyles; as most of the LSR outlets are open for long hours, some even 24 hours, they cater to the needs of many, particularly younger, consumers.
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This industry report originates from Passport, our Consumer Foodservice market research database.