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2012 || Singaporean Foodservice: The Future of Foodservice in Singapore to 2016 ||

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2012 || Singaporean Foodservice: The Future of Foodservice in Singapore to 2016 || Powered By Docstoc
					   Singaporean Foodservice: The Future of Foodservice in Singapore to 2016
London, November 15th, 2012 – Over the review period 2008-2012, sales in the Singaporean foodservice profit
sector increased from SGD6,077.6 million (US$3,826.5 million) in 2006 to SGD8,209.2 million (US$6,536.7 million)
in 2011, at a CAGR of 6.2%. Within the profit sector, the restaurants segment had the highest share of sales over
the review period and recorded a CAGR of 6.53%. The restaurant channel remained the largest in terms of
foodservice sales, contributed for 63.3% of profit sector sales. The growth in restaurant sales was primarily a
reflection of the increase in sales by coffee and teas shops, and quick-service restaurant (QSR) and fast food shops
at CAGRs of 7.15% and 7.11%, respectively.




Levels of annual disposable income in Singapore increased from SGD134, 717 million in 2010, to SGD145, 626
million in 2011, and is forecast to reach SGD152, 604 million by the end of 2012. An increase in disposable income
has led to a growth in the culture of dining out amongst consumers. A stable economic growth experienced over
the review period has boosted the per capita income of consumers in Singapore, which in turn led to a high tourism
growth and leisure spending, and it is expected that this will contribute towards the growth of the foodservice
industry over the forecast period 2012-2016.

Online marketing provides a platform for foodservice operators to connect with their customers and advertise their
products more effectively. Facebook and YouTube are the two most popular social media sites among foodservice
operators for advertisement. Recently, a newly-opened Chinese cuisine restaurant, Chinese Box, turned to social
media and successfully leveraged the popularity of Facebook to create awareness about the restaurant and
connect with consumers; within two weeks the restaurant had 900 fans on Facebook. In 2010, Burger King
launched its online marketing advertising campaign, Snacking Quick Pick, as one of its promotional tools. In 2010,
Singapore ranked sixth in the world in terms of Facebook penetration, with a penetration rate of 52.4%. Due to the
popularity of these social networking sites, most of the restaurant and fast-food operators in Singapore have
created Facebook pages to advertise and connect with their customers.

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Description: Aarkstore announce a new report "Singaporean Foodservice: The Future of Foodservice in Singapore to 2016" through its vast collection of market research report.