Food Services

Consumers in the food service industry demand a favorable guest experience, across several channels. Restaurants that invest largely in marketing and operations, and technology, are expected to have an edge over its peers in gaining the power of their employees to be able to serve as brand ambassadors in crucial moments. Players operating in the food service industry are increasingly focusing on refining employee engagement facilities, which in turn results in a positive consumer experience.

The food service industry has shifted to a daily consumption industry and has become an integral part in the daily lives of the consumers. Similar to the shopping occasions, that has migrated online, the food service industry has taken the similar path and has been welcomed with high consumer acceptance. U.S. is one of the key markets for the fast food industry with the revenue expected to cross the 200 billion mark by 2021. Key attributing factors include the large number of drive thrus, on premise restaurants, and cafeterias among others. According to Insights and Reports, there were more than 187,000 franchised quick service restaurants in 2017. Burgers ranked the first in terms consumer preference, followed by sandwiches and Asian delicacies. Consumer spending of fast food items has surged from 2.6% in 2016 to 2.9% in 2017. McDonalds accounted for the highest share, followed Yum! Brands Inc. and Subway.

The trend in the fast food industry in China has noted a shift towards changes in the lifestyle of the consumers, inclination towards the western culture and reduced leisure time among others. This has resulted in a shift in consumer inclination towards quick service restaurants over full service restaurants. The players operating in the field of fast food industry in China have shifted their focus towards low calorie dishes. The market was valued at an excess of US$ 130 billion in 2018, yet the growth rate is anticipated to be slow on account of market saturation.

The fast food restaurant industry in Brazil was hit by economic and political insurgencies during the period of 2015-2016. Lowering disposable incomes of the consumer have resulted in declining sales of the players operating in this industry. Demand for eating out is witnessing a decline, which is compensated by rising demand for takeaways and home deliveries. Online delivery apps in the country has also created a stir in the fast food industry in the country with majority of the population resorting towards home delivery options.