A lockdown period was installed in March 2020 in Colombia, which required all limited-service restaurants to close their doors to dine-in consumers. Those that could offer takeaway and delivery services during this time did so, leading to the weakest declines coming from pizza and hamburger outlets, which were already known for their delivery options, and had previously installed delivery systems that they simply expanded upon.
Following the lockdown period, limited-service restaurants chose to make their operations more efficient in a way to reduce costs. As such, many chose to close the outlets with fewer sales, focus on key locations that would generate the most profit.
While IRCC Industria de Restaurantes Casuales remains the leading company, offering burger limited-service restaurant El Corral among others, El Corral was overtaken by Frisby in 2020, which became the top brand. Frisby extended its share due to its delivery services' popularity, offering fried chicken meals that were quick, easy and affordable during a time of heightened price sensitivity.
Limited-service restaurants are expected to start their recovery across 2021; however, the permanence of the virus and the prevalence of the economic crisis will lead to less spending on recreational activities, including visits to restaurants. This is particularly the case as there will continue to be high unemployment.
Health and safety are set to remain a key concern of consumers, and in response, limited-service players will be focused on communicating safety processes they have in place, with transparency surrounding the food preparation process. Players will also be keen to align to any ongoing COVID-19 restrictions, communicating these to consumers to entice traffic back into venues.
The outbreak of COVID-19 increased the health and wellness trend in the country, with consumers focusing on nutrition as a way to safeguard and remain fit and healthy against the virus. As such, players are set to respond to this accelerated trend over the forecast period.
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Understand the latest market trends and future growth opportunities for the Fast Food industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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