Consumers upgrade during economic slowdown
Although performing far better than other economies around the world, the Australian economy, particularly the retail category, was virtually stagnant throughout 2010. Consumer foodservice appeared to be a major exception, with consumers deciding that food was an “affordable indulgence”, where for just a couple of dollars extra they could enjoy something special. This trend was especially visible in fast food, where such concepts as “gourmet pizza”, championed by Crust Gourmet Pizza, and Pizza Capers, and “gourmet burgers”, championed by Grill’d, was the most notable feature in consumer foodservice in 2010.
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Taking it away
While consumers embraced consumer foodservice in 2010, they still prefer to eat in the comfort of their own home, where they can watch television and do not have to get dressed up. 100% HDTA therefore represented the fastest growing category in consumer foodservice, while other chains which do offer dine-in options have seen their takeaway component increase in recent years. As consumer foodservice slowly shifts to being a 24-hour industry, drive-thru outlets have proven particularly successful.
McDonald’s still the Big Mac
Although Subway has more outlets, when it comes to value share McDonald’s is the largest player in Australia consumer foodservice, even if the additional share provided by McCafé outlets is not included. The popularity of McDonald’s in Australia, where its popularity is greater than most other markets around the world, is due in part to having spent the last decade improving its reputation through such measures as a “Healthy Choice” menu, and the introduction of McCafé, both of which were Australian innovations. In 2010, however, continued growth was largely due to the popularity of McDonald’s’ range of Angus burgers
Chains continue takeover
Although they make up only around a third of the total value of consumer foodservice in Australia, chains continue to grow in importance, as emerging players in consumer foodservice embrace the franchise system as a means of expanding their brands as rapidly as possible. This system slowed down considerably during the economic slowdown due to the highly publicised failures of Krispy Kreme and Souvlaki Hut, uncertainty regarding proposed legislation, and difficulties in obtaining finance from the banks.
Bright future for consumer foodservice
Although the difficulties involved in sourcing new franchisees during the economic slowdown will act as something of a suppressing force over at least the early years of the forecast period, consumer foodservice as a whole is likely to perform well. Specifically, the trend towards “affordable indulgences” will ensure that the consumers who embraced “gourmet pizzas” and “gourmet burgers” during the economic slowdown embrace them to an even greater degree as the economy recovers.
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