Competitor Strategies in Consumer Foodservice

August 2024

The industry rebounded post-pandemic, exceeding 2019 values in 2023 due to inflation-driven price increases. Yet, transaction volumes remain below pre-pandemic levels as consumers face economic uncertainties. Operators are adapting with innovative engagement strategies like gamified loyalty programs and AI-driven insights, focusing on digitalisation and customer-centricity. Many businesses are also adopting sustainability initiatives, enhancing brand reputation and meeting consumer expectations.

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Key Findings

Industry struggles with consumers’ cautious spending and economic pressures

The aggregate value of consumer foodservice has rebounded from the pandemic, surpassing 2019 levels in 2023. However, this increase can be attributed partly to inflation-induced price hikes. Despite this growth, global transaction numbers in 2023 remain below those recorded in 2019. Operators adapt to consumers’ cautious spending and economic pressures.

Customer engagement elevated through innovative loyalty programmes

To thrive in the competitive foodservice industry, operators enhance customer engagement with innovative loyalty programmes. By leveraging gamification, personalised experiences and AI-driven insights, they differentiate their brands and build emotional connections, improving retention and driving repeat patronage in a fragmented marketplace.

Digital transformation driven by strategic partnerships

The market is shifting towards digitalisation and customer-centric strategies. Strategic partnerships with technology innovators are essential for continuous innovation and improvement. By collaborating to create seamless online and offline experiences and foster community engagement, businesses better meet evolving consumer expectations.

AI adopted for enhanced efficiency in foodservice

Operators in foodservice industry are increasingly adopting artificial intelligence to enhance operations and customer experiences. AI applications are being explored for streamlining order processing, predicting inventory and personalising marketing efforts.

Foodservice businesses embrace sustainability

The foodservice industry's sustainability landscape is evolving, with many businesses engaging in sustainability initiatives focused on environmental protection, social wellbeing and governance. Companies are investing in sustainable practices to meet consumer demand, enhance brand image and improve employee satisfaction.

Scope
Key findings
Companies at a glance
Revenue anchored in core foodservice amid strategic brand alliances
Strategic growth through franchising and selective acquisitions
Major players navigate challenges and expand opportunities in emerging markets
Chains continue to persist amidst stagnating market share
Market leadership is sustained through continuous evolution and innovation
Adapting to consumer caution by prioritising value and personalisation in challenging times
Enhancing customer engagement through innovative loyalty programmes
McDonald’s personalises its services by preparing meals before customers’ arrival
Embracing digital channels to transform customer experiences
Enterprises pursue advancements in artificial intelligence
Burger King utilises generative AI in marketing campaigns
Sustainability landscape continues to evolve in foodservice industry
Key takeaways

Consumer Foodservice

Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.

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