Abstract
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Product coverage
Consumer foodservice by chained/independent; Consumer foodservice by type;
Consumer foodservice by type and chained/independent
Executive summary
Value sales grow in 2006
Venezuela experienced another impressive economic performance in 2006, the
third consecutive year of notable economic growth. As a result, the number of
consumer foodservice outlets expanded and prices rose in 2006. Higher
disposable income allowed Venezuelans to visit consumer foodservice outlets
more frequently thereby increasing value sales overall.
Chained consumer foodservice expands its presence
As a general rule, the majority of foodservice outlets are independent.
However, chained consumer foodservice showed higher growth in 2006, due to the
entry of new chained consumer foodservice brands and the expansion of
established chains. The highest percentage of chained foodservice was seen in
fast food, followed by 100% HDTA (home delivery/takeaway). In other consumer
foodservice formats, chained foodservice was almost negligible in terms of
sales and number of units.
Intense competition characterises most areas of consumer foodservice
Competition was high with many brands participating in every area of consumer
foodservice in 2006. The leaders were easily recognisable brands in fast food
and 100% HDTA, including the multinationals McDonald' s, Subway, Arturo' s and
Domino' s Pizza. Nevertheless, independent, local players were especially
strong in other categories, especially full-service restaurants, the largest
consumer foodservice format in Venezuela.
Retail centres become attractive locations for foodservice
In terms of value sales, stand-alone foodservice remained the most important
location for outlets in Venezuela in 2006. However, the boom in mall building
across the country led to the placement of more consumer foodservice units in
retail centres. These became the most visited foodservice sites for people
from all socio-economic classes over the review period.
A favourable economic forecast bodes well for consumer foodservice
Oil prices are predicted to remain at high levels, so the Venezuelan economy
is expected to see a positive performance over the forecast period. Although
poverty rates will not decrease significantly, the higher disposable income of
middle-class households will provide many Venezuelans an opportunity to
increase their use of consumer foodservice.
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