Global Information Inc. would like to present a new market research report, "The UK Foodservice Operators' Business Sentiments and Spending Priorities 2013" by GlobalData.
Respondents from companies operating in the profit sector channels are confident regarding the growth of the foodservice industry in the next 12 months. Overall, 62% of respondents from the profit sector channels are very confident or confident about revenue growth, eight percentage points less than 2011 (reference see graph below).
A total of 40% of respondents from the restaurant channel expect an increased investment in organic produce. Significantly, many customers are changing their eating habits from away from those foods grown with the aid of pesticides towards organic foods, which are known to contain 45% more nutrients, minerals and vitamins than foodstuffs that have been intensively farmed. Such a change in consumer trends has induced many restaurants in the UK to increase their expenditure towards organic produce.
Survey results show that 43% of respondents from profit sector foodservice organizations identified decreasing consumer or government expenditure as one of the leading business concerns in 2012. Consumer spending is projected to decrease and consequently, levels of unemployment will increase alongside inflation rates, which have the potential to reduce the profit margin of companies
Respondents from companies operating in the profit sector channels are confident with regards to the growth of the foodservice industry over the next 12 months. In total, 62% of respondents from the profit sector channels are very confident or confident about revenue growth.
Locally grown produce, fresh food, vegetarian offerings and meals prepared from scratch are the prominent trends identified by respondents from profit and cost sector channels. A growing awareness of healthy eating habits among customers has led to an increase in a demand for fresh food. This has supported the demand for local produce, which UK foodservice operators consider one of the best ways to provide fresh food to their customers.
Many foodservice operators have adopted everyday low prices to increase footfall during the global economic crisis, as customers opted for value for money purchases. Such pricing strategies are expected to continue as customers expenditure levels are yet to reach pre-2008 levels. Through such pricing schemes, foodservice operators are enjoy benefits such as uniform business levels, low inventory carrying costs, reduced advertising costs and overheads associated with sales.
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