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Consumer Foodservice in Greece

Operators in Greece's foodservice industry focused to reduce costs


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2014-01-10 22:27:02 - Consumer Foodservice in Greece - a new market research report on companiesandmarkets.com

In 2012, the Greek recession moved forward causing demand for consumer foodservice to drop further. Following the major economic downturn and political instability, Greek consumers were forced to hold back on their spending. Fears over job security amid regular media reports of job losses and the devaluing of wages made 2012 another challenging year for the foodservice environment – not only in terms of restricted disposable income for consumers, but also due to consumer behaviour shifting towards new types of socialising.

Menu deals, happy hours and discounts were extensively employed in order to attract financially-restricted consumers. The number of these offers and the introduction of happy hours and menus, which did not exist in Greece prior to the recession, are transforming

 

 

the landscape of Greek consumer foodservice and the consumption habits of locals.

Offers are not limited to traditional budget-oriented outlets, such as fast food, but are increasingly adopted by higher-end premises such as full-service restaurants. In order to be able to drop prices, operators focused on cost reduction, better management of raw materials, minimisation of waste, re-negotiating rents - even reducing personnel or tax evasion.

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