Russian restaurant market showed growth in the first half of 2022
Source：RBC
From：Taiwan Trade Center, Moscow
Update Time：2022/11/03
In January-February 2022, despite the increase in the incidence of the omicron strain COVID-19, the restaurant market showed excellent growth dynamics, significantly exceeding the indicators of 2021, and also surpassed the dynamics of 2019. Thus, 2022 was supposed to be a turning point for the entire catering market, since it would be marked not only by a transition to real growth and new historical records, but also by the massive introduction of new customer service technologies, remote services and robotics.
After the events of the end of February 2022, the growth rate of the catering market began to decline as expected. If in March they remained in the positive zone, then from April the growth rate has changed to negative. The positive increase in March is explained by the general excitement observed in Russian retail against the background of the departure of foreign companies from Russia, as well as the fears of Russians about the impossibility of buying the widest list of goods due to the termination of supplies to Russia and other logistical difficulties.
Since April, the catering market has moved into a negative plane – the rate of decline was 4.7%. At the same time, since June, a positive trend has been noticeable – indicators of a decrease in the growth rate are slowing down and by the end of August, the market may again move into a positive plane. These trends are related to the general revival of economic activity and the adaptation of the Russian economy to the new sanctions conditions, as well as partly due to the reopening of former McDonald's restaurants.
Moreover, the unexpected stability of the Russian restaurant market is also noted by its leading participants. Thus, Ivan Tikhov, Managing Director of Do-do Pizza Eurasia, notes that "the company's results cannot be called anything but unexpected. We expected a drop in demand, worked out a large number of anti-crisis scenarios. However, we continue to grow – despite the difficulties in the market and its decrease. This happens both by winning the competition and by leaving other players. It would be fair to say that the closure of McDonald's gave at least 10% of additional revenue, starting immediately from March 14. For the second half of the year, we continue to adhere to moderately negative forecasts. The real incomes of our guests will fall, and prices will continue to rise – in such conditions, the market expects a decline."
It is obvious that the departure of the leader of the Russian fast food market helped "Up to Pizza", but this alone does not explain the company's performance in the period March-June 2022. Other restaurant chains also noted that they were able to pass the difficult period of spring 2022 much better than expected. For example, Alexander Lapshaev, the operating director of the restaurant chain "Own Company", claims that "the dynamics of the network's indicators in the 1st quarter of 2022 compared to 2021 is positive, the turnover is 12% higher, the guest flow has increased by 6%, and the average check in the network, including delivery, is 7%. In March and April, the indicators also did not fall in comparison with last year and February 2022. The trade turnover by March 2021 increased by 5%, by February 2022 – by 9.6%. In April, the positive dynamics are even brighter: the increase in trade turnover by April 2021 is 16%, by March 2022 – 9.1%."
Source: https://marketing.rbc.ru/