Updates on the Thai Quick Serve and Casual Dining Market Q1 2018
Food Tracker is pleased to announce that it has completed its sixth monthly survey of the Thai quick serve and casual dining market.
A number of large clients have subscribed to our monthly brand tracking reports. They include private and listed companies that operate 21 brands and more than 2,500 outlets.
Our database on industry trends, market share, awareness and brand equity is growing. We start to have a precise understanding of the primary attributes associated with certain brands and the levels of customer satisfaction.
Growth in Delivery: Many restaurant companies keep a close eye on the delivery market, and for good reason. The usage of food delivery services had a strong increase in February and March, rising above 30% of consumers ordering delivery in the past 4 weeks. Delivery operators such as Line Man and Food Panda are developing the market and threatening more traditional delivery services.
Starbucks is a Good Example of a Brand with a Clear Brand Image: Starbucks has a very clear image. A high proportion of survey respondents described Starbucks as being upmarket/premium, being trusted and having a good reputation and offering special/unique experience. Few brands among the 65 brands surveyed by Food Tracker have such a clear and distinctive image profile.
Thai Consumers Like Brands That Are Vibrant and Fun: We analyzed the correlation between brand attributes and usage across the industry. We found that Thai consumers are attracted to brands that are generally considered to be popular, have a trusted/good reputation and are also vibrant/fun. Brands that are seen as quiet/peaceful or traditional are generally less attractive to Thai consumers.
Industry KPIs Look Good: Consumer confidence has been increasing since mid-2017. In addition to consumer confidence, Food Tracker follows the latest monthly and quarterly announcement relating to other indicators of retail growth such as GDP growth, retail sales and consumer spending. All the numbers look good.
After You is Flying High: Food tracker follows the quarterly disclosures of the listed restaurant companies like Minor, MK, Central, Mudman, etc. In the 4th quarter, After You reported a 41% increase in profit. And for the year ending December 2017, profit was up 30%.