In 2023, chained full-service restaurants is expected to see higher current value growth than independent full-service restaurants. With the decrease in the population dining out, increased instability of the consumer foodservice industry, and increased delivery, independents are expected to be more reluctant to open outlets, and higher growth is expected in outlet numbers for chained full-service restaurants, which will drive higher current value growth for this format.
As high inflation was seen throughout 2022, and this is expected to be maintained, the polarisation of spending is expected to continue in consumer foodservice throughout 2023. The opposite consumer trends of spending more at high-end restaurants, and decreasing the frequency of dining out and reducing spending, will be observed throughout 2023.
There are an increasing number of different technologies used in full-service restaurants. Kiosks have been predominantly used over recent years in Korea, but additional technologies have been introduced to full-service restaurants.
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FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).See All of Our Definitions
This report originates from Passport, our Full-Service Restaurants research and analysis database.
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