{"id":608746,"date":"2022-07-20T08:29:10","date_gmt":"2022-07-20T06:29:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=608746"},"modified":"2022-07-20T08:29:10","modified_gmt":"2022-07-20T06:29:10","slug":"big-shift-hitting-restaurants-and-takeaways-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/608746\/big-shift-hitting-restaurants-and-takeaways-in-south-africa\/","title":{"rendered":"Big shift hitting restaurants and takeaways in South Africa"},"content":{"rendered":"<p>After more than two years of Covid restrictions and increased demand, South Africa&#8217;s restaurant and takeaway sectors are seeing a structural shift, says John Loos, property sector strategist at FNB.<\/p>\n<p>The data points to three key trends emerging:<\/p>\n<ul>\n<li><strong>Growth in the overall Restaurant, Take-Away and Catering Sector is showing signs of slowing<\/strong>, albeit still solid in recent times. &#8220;This has been expected, firstly due to the normalization of activity following lockdowns having more-or-less been completed,&#8221; Loos said.<\/li>\n<\/ul>\n<ul>\n<li><strong>Negative economic events are starting to force consumers to reprioritize their budgets &#8211;<\/strong> partly at the expense of eating out and takeaways. &#8220;These (economic) events include rising general inflation, especially in the area of petrol prices, as well as rising interest rates, and a slowing economy constraining household income growth,&#8221; Loos said.<\/li>\n<\/ul>\n<ul>\n<li><strong>There is a &#8216;structural&#8217; shift towards a greater take-away\/fast food\/convenience culture<\/strong>, also probably boosted by the improved delivery capability of many outlets. Post-Covid 19 lockdowns, consumers appear far more about convenience and speed, and take-away\/fast food outlets cater more for this, loos said.<\/li>\n<\/ul>\n<p>&#8220;The sharply weaker performance in sit-down restaurants and coffee shops since prior to Covid-19 has arguably put retail centres with a greater focus on this at a relative disadvantage. A focus on the Fast Foods and Take-Aways category through the Covid-19 period appears to have been significantly more advantageous.&#8221;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/07\/FNB-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-608756 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/07\/FNB-1.jpg\" alt=\"\" width=\"713\" height=\"471\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/07\/FNB-1.jpg 713w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/07\/FNB-1-300x198.jpg 300w\" sizes=\"auto, (max-width: 713px) 100vw, 713px\" \/><\/a><\/p>\n<p><strong>Solid performance<\/strong><\/p>\n<p>Despite a slowdown in spending in recent months, the growing take-away and fast food data for May 2022 points to &#8216;solid but slowing&#8217; growth in tougher economic times, Loos said.<\/p>\n<p>This comes after the take-away and fast food sector made\u00a0huge inroads through the lockdown period, he said.<\/p>\n<p>&#8220;Take-away and fast-food outlets\u2019 incomes have massively outperformed Restaurants and Coffee Shops, as well as the Catering, category. Real income of the Take-Away and Fast-Food category is a strong 37.4% up from May 2019 in real terms.<\/p>\n<p>&#8220;Restaurants and coffee shops, by comparison, are -29.2% down in real terms from May 2019, while Caterers are an even more extreme -38.4% down over the same period.&#8221;<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/608192\/the-30-most-in-demand-jobs-in-south-africa-and-how-much-they-pay\/\" target=\"_blank\" rel=\"noopener\">30 in-demand jobs in South Africa \u2013 and how much they pay<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After more than two years of Covid restrictions and increased demand, South Africa&#8217;s restaurant and takeaway sectors are seeing a structural shift, says John Loos, property sector strategist at FNB.<\/p>\n","protected":false},"author":10,"featured_media":608764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[76,26],"class_list":["post-608746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-fnb","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/608746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=608746"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/608746\/revisions"}],"predecessor-version":[{"id":608788,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/608746\/revisions\/608788"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/608764"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=608746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=608746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=608746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}