New Food research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 11/21/2014 -- Despite the poor economy, most full-service restaurants continued to strongly increase their unit prices, with average unit prices within full-service restaurants rising by 8% in 2013. Besides the increase of many input costs such as raw materials, fuel and labour costs, full-service restaurant operators also raised their unit prices. Indeed, in the country, foodservice operators had the habit of increasing their prices every year, regardless of high or low inflation.
After surpassing Viet Thai International JSC in 2012, Pizza Hut Vietnam still ranked first in chained full-service restaurants, recording a value share of 58% in 2013. Furthermore, the company also recorded the biggest increase in value sales in-line with its increasing number of outlets during the review period. The good reputation, high quality and services and active promotional activities were the main reasons helping the company not only record strong growth but also strengthen its leadership in 2013. Discounts and special prices for certain combos were the company?s favourite activities in order to boost sales and stay competitive.
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Full-service restaurants has a projected forecast period constant 2013 price value CAGR of 5% - three percentage points faster than the review period CAGR. Rising living standards, higher incomes, increasing premiumisation as well as the efforts of full-service restaurant operators are the key factors that will support strong forecast period growth in this area. Operators are likely to further expand their outlets, introduce more new menus and offer better quality and services in order to attract consumers. Furthermore, more Vietnamese people are expected to spend less time on cooking at home and more time dining out due to rising incomes and increasingly busy lifestyles. In particular, younger consumers are likely to pay more for a fine meal. As a result, the area has a high projected forecast period constant 2013 price value CAGR of 5%.
Discover the latest market trends and uncover sources of future market growth for the Full-Service Restaurants industry in Vietnam 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 Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
The Full-Service Restaurants in Vietnam market research report includes:
- Analysis of key supply-side and demand trends
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Full-Service Restaurants in Vietnam?
- What are the major brands in Vietnam?
- What cuisine type (Latin American, Asian, North American etc.) is most popular in full-service restaurants in Vietnam?
- How prevalent is casual dining in Vietnam and how is this category expected to grow over the next five years?
- How fragmented is the full-service restaurant industry in Vietnam?
Reasons to Get this Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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