Foodservice Update Q4 2021: Foodservice Sector Adapts to New Reality
The presence of foodservice brands in food retail gained momentum as a result of Covid-19 restrictions, but even with the reopening of restaurants and bars, new deals and agreements between retailers and restaurants are constantly being announced.
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“Some consumer behavior patterns may have changed structurally, such as the increased practice of working from home and greater appreciation of residential areas, and foodservice operators are developing strategies to adjust to this new demand,” says Maria Castroviejo, Senior Analyst – Consumer Foods. Leveraging the ample geographic coverage of food retailers, foodservice operators can expand into new areas while benefiting from the facilities and traffic already in place. Food retailers also benefit from this strategy. Incremental revenues from new products, cross-selling, enhanced store image, and the benefits of relying on a professional partner help to minimize the difficulties of managing a very different activity.
“Retail and foodservice are two very different businesses, and past failures evidence the significance of the challenge. But the choice of strategies and business models has grown and increased the opportunities to find a good fit,” according to Castroviejo.