Boston, MA -- (SBWire) -- 11/18/2014 --In 2013, there was a trade-down effect with consumers opting for more-convenient and less-expensive meals, despite improvements in consumer confidence and consumer spending since the GFC. This forced a number of traditionally higher-tier full-service restaurant operators to move towards more-casual offerings. Furthermore, it was reported by industry sources that in 2013 consumers were switching from dining out to other occasions of the day, such as lunch, because dining out was perceived as a more expensive meal to pay for at a restaurant than lunch. As a result, operators within full-service restaurants, particularly top-tier restaurants, begun to offer lunch deals that involved limited options and simpler meals at lower prices than those from the regular menu. For instance, Hellenic Republic, Nama-Nama and Maha introduced lunch menus ranging from A$12.00 to A$20.00, with meals updated regularly.
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Competitive Landscape
Hog's Breath Caf? (Australia) Pty led chained full-service restaurants in 2013 with a 1% value share. The company?s growth was largely driven by new outlet openings, reaching 81 outlets in 2013. Although the company mostly has a presence in suburban areas, in 2013 it expanded to more-densely populated areas, including an outlet close to Sydney's iconic Darling Harbour, which attracts significant traffic from tourists.
Industry Prospects
As value for money remains relevant to Australian consumers, competition from other categories within the consumer foodservice industry is likely to increase over the forecast period, challenging the performance of full-service restaurants. The category is expected to record growth at a CAGR of 1% at constant 2013 prices over the forecast period, with transaction numbers anticipated to record growth at a marginally higher rate.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Full-Service Restaurants industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Full-Service Restaurants industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Full-Service Restaurants in Australia market research report includes:
- Analysis of key supply-side and demand trends
- Historic volumes and values, company and brand market shares
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Our market research reports answer questions such as:
- What is the market size of Full-Service Restaurants in Australia?
- What are the major brands in Australia?
- What cuisine type (Latin American, Asian, North American etc.) is most popular in full-service restaurants in Australia?
- How prevalent is casual dining in Australia and how is this category expected to grow over the next five years?
- How fragmented is the full-service restaurant industry in Australia?
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New Report Available: Full-Service Restaurants in Australia
Recently published research from Euromonitor International, "Full-Service Restaurants in Australia", is now available at Fast Market Research