The economic outlook is optimistic, with national consumers anticipated to gradually see a recovery in their purchasing power as inflation rates and taxes decline and reach “healthy” values. As household disposable incomes rise, expenditure on consumer foodservice is set to increase, boosting the performance of full-service restaurants.
Despite the positive performance expected for full-service restaurants and the up-trading trend anticipated thanks to the recovery in consumer purchasing power, the category is set to continue losing share to limited-service restaurants over the forecast period. Limited-service restaurants is anticipated to see strong outlet expansion driven by a system of franchising, which will provide a strong boost to category sales, while full-service restaurants will grow but at a slower pace.
The government will harmonise the VAT rate in the context of restaurants and reduce the tax to be applied from 23% to 13% to drinks such as juices, nectars and carbonated waters or waters containing carbon dioxide or other substances. Although positive for the industry, the decline in VAT is lower than the industry association would have liked.
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Full-Service Restaurants
FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).
See All of Our DefinitionsThis report originates from Passport, our Full-Service Restaurants research and analysis database.
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