The latest report (UK Food To Go Market Report 2022) by Lumina Intelligence forecasts massive growth in the food-to-go sector, saying the market will reach £23 billion by 2025!
Despite taking a significant hit during the pandemic, the food-to-go market is bouncing back, as people return to their busy on-the-go lifestyles. This presents a massive opportunity for businesses! In fact, Lumina predicts a £1.6 billion total sales growth opportunity between 2022 and 2025.
In this blog, we’ll look at why the food-to-go sector is booming and how you can take full advantage of this growing market:
The pandemic affected many industries, but the subsequent recovery in the wider economy has helped to boost the food-to-go market.
According to Lumina’s new report, the food-to-go market recovered by 38% in 2021 compared to its 2020 value and is set to increase by another 32% this year.
Now travel and movement are no longer restricted, food-to-go is becoming a convenient necessity again.
Convenience food and supermarket’s grab-and-go have always been popular for eating at workplaces, but with many people now working from home, we are seeing a shift and people are also buying food to go home.
Despite COVID and inflation impacting consumer confidence, which often affects spending, the low cost of food-to-go means customers are unlikely to stop purchasing or restrict their spending on these items.
Lumina reported the average spend for meal deals, across top brands, was £4, which is much lower than the cost of eating out.
New product development
The report by Lumina showed customers were willing to spend more and move towards premium drinks, with the majority of new drinks being priced at over £4 each.
People were returning to traditional lunch items, including salad, sandwiches and wraps, in place of snack pots, which provide business opportunities to increase average spend at lunch.
Advancements in technology have meant it is easier for businesses to expand their stores and manage the delivery of stock, to cope with increased demand for food-to-go.
Loyalty & customisation
Tailored digital loyalty schemes are important and work well to incentivise customers to spend more, at the same time as increasing engagement with your brand.
Customisation is a big growth opportunity, as it allows businesses to drive spend per head, without adding labour costs, whilst at the same time providing an improved personalised customer experience.
How we can help
With the food-to-go sector booming, it’s important to have the right infrastructure in place to deliver a reliable food-to-go service and maximise profits. MCR systems provide market leading EPOS software that manages allergens, stock levels, online ordering and mobile payments, allowing reliable fast point of sale transactions. We tailor promotions and meal deals to promote customer loyalty, plus provide Symphony reporting so you can easily monitor the success of your promotions, helping you to target your customers effectively.
To book your free demo, call our experienced team on 0116 299 7000, or email firstname.lastname@example.org