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ICSC Czech and Slovak Retail Real Estate Conference
Food & Beverage Remodeling Successfully Transforming the Shopping
Experience
17th September 2013 Andel’s Hotel, Prague
• Coverpoint – An Introduction
• Foodservice – A Global Picture
• Different Types of F&B Markets
• Role of F&B as a Differentiation Point
• Future of F&B Operators
• Which types of F&B?
• Transforming the Shopping Experience?
Content
1
• International foodservice consultancy.
• 20 years experience.
• 50+ countries.
• 300+ Shopping Centres.
• Specialists in Retail & leisure foodservice.
• We are all Foodservice Professionals.
• FCSI Chairman and worldwide Board.
Coverpoint – An Introduction
2
Worldwide Value
• Estimated to be worth €1,500 billion per year.
• 50% of sales generated from the Americas.
• 22% from Asia Pacific.
• 28% from Europe.
Europe
• 65 Billion meals served a year or 20,600 a second!
• 2.92 million outlets or 6 outlets per 1,000 people.
• €431 billion sales or €474 per person, per year.
Foodservice - A Global Picture
3
Foodservice is operated and used across all retail and leisure sectors:
Different Types of F&B Markets
Transit In-Store Factory Outlets
Leisure Parks Shopping Centres The ‘High Street’
4
Foodservice – the Greatest Attraction?
Role of F&B as a Differentiation Point
5
The Past
• Food used to be about ‘functional’ Fast Food.
• Foodservice environments were very similar.
• Used to be ‘mass’ volume, with no ‘experience’.
• Online retail sales growth is changing this.
Why Foodservice is Growing in Importance
Role of F&B as a Differentiation Point
6
Role of F&B as a Differentiation Point
7
Why Foodservice is Growing in Importance
The Future
• Foodservice is occupying more GLA space.
• Restaurants are the new ‘anchors’.
• Food is the new fashion.
• Eating out creates ‘Social Glue’.
Role of F&B as a Differentiation Point
Growing Trends in Foodservice
• Food was ‘hidden’, but is now high profile.
• Dining is now a strong part of any leisure experience.
• Quality and authenticity is now demanded.
• Diners expect variety of menu, price and style.
• Shop fit quality is now as good as Retail.
8
Role of F&B as a Differentiation Point
Shopping Centres - Pure Leisure Destinations
Retail + Leisure + Foodservice
9
Role of F&B as a Differentiation Point
Importance of Food in Retail Environments Time in Years
10-20 Years Ago Over the last 5 Years In the next 5-10 Years
Food was hidden and
functional.
Coffee was as poor
as the environments.
Fast Food was
dominant.
Mainstream brands want
Shopping Centre space.
Food gives a reason for
customers to visit.
Emergence of familiar
High Street brands.
Food acts as attraction for
new customers.
New concepts launch first
in Shopping Centers.
Foodservice recognised
as a major attraction.
Typical % of GLA allocated to Foodservice
3-7% (Yesterday) 8-10% (Today) 10-15% (Tomorrow)
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Role of F&B as a Differentiation Point
When Leisure, Foodservice & Retail combine…
A) Retail focused / No Leisure.
At least 6% of GLA dedicated to foodservice.
B) Cinema - Centres with a leisure anchor
At least 8% of GLA dedicated to foodservice.
C) Integrated retail, leisure and community
Up to 15% of GLA dedicated to foodservice.
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Future of F&B Operators
Trends in Foodservice Operators
Operators are listening - demand for value, choice & authenticity:
• The continued evolution of Coffee – Its now all about the bean!
• Emergence of ‘fast casual’ brands – great food without the fuss.
• ‘Street Food’ concepts & ‘Pop-ups’.
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The Growing Mix of offers
• Speed Eating
• Refuel & Relax
• Fast Casual
• Casual Dining
• Finer Dining
• Street Food & Pop Up’s
Which types of F&B?
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The Foodservice Market Segmented
Which types of F&B?
Low High
Low
High
Experience
Price
Speed
Eating
Leisure
Dining
Refuel &
Relax
Finer
Dining
Fast
Casual
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The Shopping Centre Foodservice Market - Then…
• Fast Food – Traditional Food Courts.
• Functional in Style and Appearance.
• ‘In and Out’ – Short Dwell Times.
• Mass Market – Low Spends.
• Old style fit out and unit presentation.
• No ‘experience.’
Which types of F&B?
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The Shopping Centre Foodservice Market - Now…
• Casual Dining – Restaurant Clusters.
• Destinational and Aspirational.
• ‘See and Be Seen’.
• Sophistication – A wider range of Spend.
• Sense of Space and Place.
Which types of F&B?
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Changing Foodservice Locations & Environments
Food Courts
Which types of F&B?
17
Changing Foodservice Locations & Environments Cafés
Which types of F&B?
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Changing Foodservice Locations & Environments
Restaurants
Which types of F&B?
19
It’s more than just a biological need…
Smart Centres have learned:
Great Food (and Toilets) = Great Experience.
• The body needs a ‘nibble’ every 2.5 hours – Give them choice.
• Once you have filled up, you need to empty! – Give them toilets.
Transforming the Shopping Experience?
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Now we see Foodservice:
• Providing a regular & sustained footfall.
• Extending dwell times over 2 meal periods.
• Stretching the trading day – evenings too!
• Creating a loyal customer base.
• Increase average retail spends.
Transforming the Shopping Experience?
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Dare to be different…It’s Low Risk!
• Adopt a more flexible and commercial approach:
•
- Shorter lease terms
- Turnover / concession rents.
- Bring in new concepts.
- Managing the mix to keep it fresh.
- Creating great foodservice spaces.
Dare to do nothing…The Highest Risk
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Transforming the Shopping Experience?
Q&A Time
Questions please
Coverpoint Catering Consultancy Ltd
The Barn
11 Waltham Court
Milley Lane
Hare Hatch
Reading
United Kingdom
RG10 9AA
0044 118 940 5266
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