Recent years have been all about food trucks and their exploding growth. However, new concepts like shipping container stalls have combined with a surge in the popularity of culturally authentic street food and food festivals to ensure that street stalls/kiosks overall recorded strong value sales growth in 2018.
Street stalls/kiosks has remained one of the fastest-growing channels in foodservice. Growth is expected to slow significantly over the next few years, in part due to ever increasing regulations in the largest cities.
While most street stalls and food trucks already need wireless internet to operate their ordering and payment systems, some operators are now offering free Wi-Fi and encouraging patrons to stick around. Having a group of “eat-in” customers makes the trucks appear more popular and therefore more desirable.
Desserts and beverages are known for having some of the highest profit margins in the foodservice industry. In 2018, street stalls/kiosks embraced this by creating speciality lemonade and tea offerings, ice cream shake-inspired food trucks, and expanding the always popular coffee kiosks.
In 2018, celebrities used social media to help popularise the renting of food trucks for private events. The concept has grown beyond personal events, with many companies hiring food trucks for annual events or even just a company moral boost.
As underlined by the continually increasing transaction values, street food consumers continue to move beyond the USD2 hot dog and, in some cases, pay top dollar for a gourmet food truck experience. In order to meet this demand, chefs trained at some of the world’s premier culinary schools have decided to roll with the food truck trend, creating trucks dedicated to exclusive delicacies such as crème brulée or fine cheeses.
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This industry report originates from Passport, our Consumer Foodservice market research database.