Due to increasing awareness among consumers regarding the negative effects of fast food on health, and issues such as obesity, heart disease, diabetes and arterial hyper tension, fast food sales suffered a downturn in 2013. Even though its current value terms growth of 8% is a fairly good sales increase, it is also quite slow in comparison with the 12% achieved in 2012. This, in addition to increasing sophistication in tastes and palate among Chilean consumers, underpinned primarily by higher disposable incomes, resulted in fast food suffering from this deceleration.
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Gastronomia y Negocios is the leading company in chained fast food, with a value share of 23% in 2013. The company has developed rapidly through outlet expansion and pricing strategy with its leading brand Doggis. Although Gastronomia y Negocios led fast food companies, in terms of brands the leader at the end of the review period was McDonald’s, with a value share of 14%. Over the review period Gastronomia y Negocios nearly duplicated its outlets in Chile, while McDonald’s focused on enhancing its offering in terms of quality and variety, with premium burgers and diversifying through salads and wraps.
There is a premiumisation trend expected for fast food on the horizon, with the entrance of several international players in 2013, and with the expected opening of brands over the forecast period. For example, in 2013 Popeye’s Louisiana Kitchen opened a location in Santiago, and it is expected to continue to expand further in coming years. On the other hand, hamburger chain Wendy’s is expected to open a store in 2014.
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The Fast Food in Chile market research report includes:
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