I remember when I was a college student we had a teacher who constantly repeated in most of their classes: “to know what will be the future trend in a market just follow the money”.
As well, The chart below shows the major investments in the various subsectors related to the restaurant industry in the United States during the year 2016.
It seems clear that there are two niche markets in recent years have raised a very significant way and they certainly have become the main focus of large investment “players American”.
On the one hand we are he delivery, Food Delivery, paraphrasing Lucy Brady, vice president of McDonalds, let us “to a market of more than 100 billion that it has exploded. It is a great opportunity we have to make”.
I honestly do not surprise me these investments because most technology companies are putting a major focus on a market in the coming years will evolve in an absolutely disruptively. We're just seeing the tip of the iceberg the transformation in eating habits behind this movement.
The emergence of food kits on the market
But in this article I would like to put aside the revolution delivery and focus on starting the second largest investment during the year 2016, what has been calling “Subscription food or food kits”. For those who do not know, is a new service that allows access to a number of recipes organized by different types into a web and receive the exact ingredients in the mail along with detailed instructions on how to cook simply and quickly without investing time throughout the process buy them.
this market, with an exponential growth in the US, It is a suitable alternative and a new way of cooking for those who do not have the time or desire to go buy each of the ingredients in a dish, as well as access to a huge source of knowledge shared with hundreds of recipes. You can even sell your recipe to some of these sites and monetize every purchase you make of it.
This new industry is born in Sweden, so many call it as Ikea gastronomic, because somehow it does the same as the Swedish furniture giant, buy the pieces and create the dish.
Many of these kits are based on food promote values or nutritional habits, linked to a healthy lifestyle. further, to receive the exact ingredients It generates no food waste. Their prices are usually between 10 € to € 15 per recipe and let you weekly subscriptions to receive orders for several days.
A study by the company Harris Poll in December 2016 found that a quarter of all American adults had bought a meal kit in recent 12 months. Namely a 17% I had bought in a physical store and 12% through any of the major online services operating in the United States.
The main generation of buyers of this type of food are the millennials aged between 18 Y 35 years, with a 60%. Undoubtedly the younger generations are more likely to buy these products for its high level of digitalization and wanting access to new dining experiences. In fact, he 53% He says using these kits for convenience food, and a 25% as a matter of curiosity, based on the experience of eating in a different way home.
But perhaps the greatest impact data is that 7 each 10 food boxes buyers still actively acquiring such product, where younger customers appear to be most faithful, because in those 55 years up, only less than half are still buying these kits food.
At this point I would like to reflect on risks or opportunities representing the market kits for international food restaurant industry.
Opportunities and threats Market food kits
On one side, it seems clear that there may be a real threat to the latter, as some customers consumption at different times can eventually replace visits to restaurants by experiences with food kits.
In this regard, we have the first study the Consultora Pentallect, which warns that although at present the impact of delivery services is small food boxes, the growth of such services, which is encrypted between 25% and a 30% annual, eventually could lead to a significant impact moments of consumption replacing food kits, mainly those casual restaurants with table service.
The reasons stated, are mainly that both sectors point to the same demographic group, people between 25 Y 44 year old, but the food kits are priced fairly lower, around 10$ per person, while the restaurant is situated above 20$.
But on the other hand, this new market It is an opportunity by the restaurant industry to bring his way of marketing products using the retail systems, Where an increasingly important part of the sale of future products segment casual food will be bundled products, distributed in the restaurant itself and through the shelves of supermarkets and hypermarkets that can be found in every city of any country.
In these distribution centers increased food products originating from different brands of relevant hospitality market, It will grow in a very important way in the coming years linked to the growth in times of external consumption of new generations.
On the other hand, also an opportunity to raise technological projects based on e-commerce allowing digitally distribute products originating from companies in the sector.
Off companies or food technology?
Some are already positioning themselves in this new market, as in the case of Nestlé O Unilever they are investing in this type of business. And of course, also the case Amazon, which ultimately comes out in all food-related quinielas, whose purchase Whole Food You can be directed to develop such businesses.
all, coincides with the IPO A few weeks ago one of the major international leaders in the food market subscription, specific Blue Apron. This company based in New York is the largest provider of food from the United States and has raised 300 million in its output, coming to Wall Street with an assessment of 1.900 millions of dollars.
In Spain we have some companies that are positioning in this new market as is the case of foodinthebox, using similar methodologies to those used by international companies to get their lunch boxes arrive weekly to requests made their Spanish customers through this new system of e-commerce.
Conclusion, I would like to insist that we are in a complex environment within the international industry restaurants, where countless possibilities generated technology related to the movement of food allow you to create new combinations that so far the market did not know and who come to this as a great many opportunities, but also major threats.
Restaurants that do not meet the expectations and needs of new customers demanding new dining experiences, They will be paying the transition of these new alternatives to taste Today the market offers, How they are certainly kits food or food subscription.