The Restaurant Conference 2016
Market insight
“The road to growth is changing lanes, leading to expansion…”
“Spend better rather than less”
The eating-out market has grown by 2% in the last year and is now worth £87.2bn – this can be divided up into Hotels worth £9bn, Bars £21.5bn, Independent restaurants £14bn and Branded restaurants £42.7bn. The no. of restaurant outlets has declined by -0.5% and turnover is down -0.8%. Despite this the fast-food sector has experienced steady growth with outlets up 2.2% and turnover increasing by 4.3%. The no. of pubs are in decline despite experiencing growth in that sector, suggesting that the bad ones have now been closed down.
Consumers are spending more per head per meal at restaurants except fine dining, and the no. of people eating out for birthdays/special occasions has doubled.
Will Shu, Deliveroo
Deliveroo has 100X in the last 2 years making it bigger than JustEat and Dominoes, so is becoming a massive threat to the eating out market. Their latest venture called “Roobox” involves setting up kitchens for delivery only, allowing top brands in Paris to come to London (& vice-versa) without high setup costs. They are targeting companies using “Roobites”, which gets cold lunches delivered in under 15 minutes. They have also started delivering alcohol in under 20 minutes, and are working with top brands like Brewdog and Sipsmith.
Marcel Khan, Five Guys and Mike Williams, Byron – talked about the importance of culture and people within the business. Introducing a culture of “having fun and being nice” is picked up on by customers so can lead to improved sales. Those staff who are achieving high performance and high culture values are rewarded, and those with low ratings are helped to move on, as the company culture is clearly not for them.
“Translating your culture-led message to consumers.” [Vayner Media]
Emerging technology
Fingo pay – your fingerprint is linked to your credit/debit card, so can be scanned and used to pay with… this technology is used in some bars/restaurants and already worth £1.34bn.
Magic leap – app used to do augmented reality, so you can see your furniture in any space.
85% of online videos played with the sound off.
Pure Gyms The original bowling company top 3 biggest movers in 2017 Comptoir Libanais The Restaurant sector – is it consumer confidence led? Do people look for a restaurant spontaneously? Do they have a plan? Or do they follow others (based on recommendations)? Are customers loyal and stay with trusted brands? Research has found that customers aged 18-25 are the biggest “explorers” and try new dining experiences. Traditional nightclubs are closing down and being replaced by competitive drinking areas, such as Bounce in London.
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