Despite the small real GDP growth rate of 2015, consumer foodservice remained healthy as Thais continued to dine out when spending time with family and friends. The strong performance in 2015 was mainly due to companies’ adaptability to the changing economic environment and cultural lifestyle. This included providing trendy new outlets and offering new menus to accommodate the more urbanised and healthy lifestyle of Thai consumers. A rising number of outlets were seen from both existing companies and new entrants. Companies continued to use marketing campaigns and promotional activities through both offline and online tools. The growing proportion of social media platforms and tools was observed in 2015.
FOREIGN BRANDS MARCH INTO CONSUMER FOODSERVICE
The number of foreign brands continued to rise in consumer foodservice in Thailand in 2015 as Thais enjoy trying new cuisine and regard international brands as offering a more authentic version of a particular cuisine. Among the importers, independent companies chose an established foreign brand as it was perceived to offer better prospects for success and less effort was required to build the brand. Meanwhile, big companies which already owned various brands opted to import an international brand in order to diversify their portfolios. Some of the prominent new brands during 2015 included Croissant Taiyaki from Japan, Softree from Korea, Hot Star from Taiwan, and Texas Chicken from the US.
CP ALL PCL DOMINATES
CP All PCL remained the leader in consumer foodservice in 2015. Its wide network of over 8,600 outlets of 7-Eleven convenience stores, scattered in locations such as residential areas, offices, universities, tourist attractions and petrol stations nationwide, made 7-Eleven the most accessible convenience stores in Thailand. Due to the increasing urbanisation of the Thai society, its accessibility and readiness to instantly provide food 24 hours a day are the major contributing factors to the company maintaining its leading position in 2015. Another major factor which contributes to the good sales of the chained convenience stores fast food of 7-Eleven is product innovation. The company continues to introduce new products to match consumer demand and continuously promotes through the mass media nationwide.
YOUNG, INDEPENDENT ENTREPRENEURS BRING EXCITEMENT TO CONSUMER FOODSERVICE
2015 saw a rise in the number of young, independent entrepreneurs entering consumer foodservice with novel and exciting cuisine. These young entrepreneurs were predominantly seen in various locations throughout Bangkok and metropolitan areas. They used social media as a means to attract customers, which was considered a new marketing tool for independent street stalls/kiosks in Thailand. It is perceived that this channel of communication between foodservice brands and their customers will continue to grow and support the strong performance of consumer foodservice over the forecast period.
CONSUMER FOODSERVICE EXPECTS IMPROVEMENT OVER THE FORECAST PERIOD
Consumer foodservice is expected to grow over the forecast period, with a higher constant value CAGR than the CAGR registered over the review period. The major supporting factors are expected to derive from the strong performance of Asian full-service restaurants, pizza full-service restaurants, and independent street stalls/kiosks. Meanwhile, the healthier lifestyle of Thais is likely to pose challenges to fast food and bars/pubs over the forecast period. Bangkok and metropolitan areas will be key destinations of a variety of consumer foodservice outlets inspired by the chic and modern lifestyle of urbanisation. The Asian trend from Japan, Korea and Taiwan is expected to remain the key theme of setting up new restaurants and outlets.