Research Paper > BM461 Global Business Environment _Critically examine the food take away market wit

downloaded from

Scholarfriends

https://scholarfriends.com Downloaded by: writerforacademic@gmail.com | https://scholarfriends.com/singlePaper/275897/research-paper-bm461-global-businessenvironment-critically-examine-the-food-take-away-market-wit Distribution of this document is illegal.

Food Take Away market within the town Centre

<University>

Food Take Away market within the town Centre

By

<Your Name>

<October 19, 2022>

<Lecturer’s Name and Course Number>

 <Your Name> 2022

This study source was downloaded by 100000857952895 from CourseHero.com on 01-05-2023 11:45:42 GMT -06:00

https://www.coursehero.com/file/174521944/BM461-Global-Business-Environment-Q-1docx/

Page 1 of 4

Food Take Away market within the town Centre

Critically examine the food take away market within the town Centre of your classes and assess the level of competitiveness and likely impact of the present economic situation This paper gives a quick overview of the significant economic, social, and cultural contributions the UK's takeaway industry has made. Using research from Retail Economics (and Prevision), the paper analyses the business opportunities the industry offers. It becomes evident that there are numerous issues that this industry faces when looking at how takeaway restaurants have altered to meet consumer demand and how government regulation might affect this sector (Allder, 2008). This study measures the economic contribution of the UK takeaway industry to the UK economy using industry-standard macroeconomic models. The models employ data from reputable sources like the Office for National Statistics, the Business Register and Employment Survey, the Labor Force Survey, and the Annual Survey of Hours and Earnings. Additionally, data was also provided by Just Eat, one of the top UK websites for ordering and receiving food online. Prevision conducted a study of 300 takeaway business owners from all around the UK to better understand the market. Interviews were conducted between July 10 and July 24, 2019 (Maguire, Burgoine and Monsivais, 2015).

An analysis conducted recently predicts that the UK foodservice market would expand by 3.02% between 2022 and 2023. According to the study, the coronavirus outbreak has significantly impacted the foodservice sector as a whole, with various segments being impacted to different degrees. Food supply chains are under tremendous strain as a result of the epidemic, which has led to bottlenecks in sectors including farm labor, processing, transport, and logistics (Pang, Shang and song, 2022). Moreover, there have been considerable modifications in customer demand. The lockdown has caused every bar, cafe, and restaurant in the country to close. A number of venues were forced to close their doors permanently as a result of the Covid-19 epidemic, which had a substantial detrimental effect on the UK restaurant industry. Some eateries, nevertheless, were still available for takeout and delivery (Corfe, 2018).

In an effort to lessen the impact of the pandemic on the industry, the UK government introduced the Eat Out to Help Out program in August 2020. Under the campaign, diners in participating restaurants received a 50% discount on food items with a maximum value of GBP 10. This strategy will probably help the market in the years to come.

Chain restaurants make up the greatest portion of the foodservice industry in the United Kingdom. Standalone enterprises are the most popular and well-known to customers. Digital platforms are crucial for increasing everyday sales at fast food restaurants, accelerating deliveries, and providing customers with contactless meal services. The corporate sector is

 <Your Name> 2022

This study source was downloaded by 100000857952895 from CourseHero.com on 01-05-2023 11:45:42 GMT -06:00

https://www.coursehero.com/file/174521944/BM461-Global-Business-Environment-Q-1docx/

Page 2 of 4

Food Take Away market within the town Centre

thriving and expanding, which is advantageous for the foodservice providers because it comprises, among other sectors, full-service dining (Hishamuddin, 2019).

The increase in eateries selling various ethnic dishes, such as Asian, American, Chinese, Japanese, and Thai cuisines, is the main factor driving the market for independent outlets among consumers. Customers focused their attention on the expanding number of quick-service restaurants, such as KFC, McDonald's, Pizza Hut, and Domino's, in quest of convenience in their daily meal requirements. Due to the expanding accessibility of ethnic foods, there is a growing demand from consumers for independent stores. Quick-service restaurants are becoming more and more popular among customers due to their convenience (Li, Mirosa and Bremer, 2020). Any company or service that sells or delivers food to customers, whether it be through a sit-down restaurant, a food court in a mall, or home delivery, is considered to be in the foodservice industry. The UK foodservice market is segmented based on type and structure.

Some of the type segments include full-service restaurants, quick-service restaurants, street stalls and kiosks, cafes and bars, and eateries that solely deliver to homes. There are both chained and standalone structural segments accessible. This trend is likely to continue over the projected period (Keeble, Adams, Vanderlee, Hammond and Burgoine, 2021). The market sizing and forecasting for each segment have been done using value (in USD million).

Cafes and Bars Control a Large Share of the Market: Strong café culture in the UK has led to an annual increase in the number of businesses.

More and more traditional cafes, restaurants, and bars are using QR codes. More than 84% of UK residents have used QR codes to pay for food, making them a standard in alternative payment methods for restaurants. A variety of non-specialist, independent, and large chains make up the growing number of cafes and bars, which satisfies consumer demand for various coffee blends. The robust coffee culture in the nation has made a substantial contribution to the expansion of coffee shops and cafes. The largest food supply sub-channel was supermarket stores' grab-and-go up until the pandemic period, but due to increased competition from staunch food-to-go specialists, its presence in market growth is anticipated to decline (GallegoSchmid, Mendoza and Azapagic, 2019).

 <Your Name> 2022

This study source was downloaded by 100000857952895 from CourseHero.com on 01-05-2023 11:45:42 GMT -06:00

https://www.coursehero.com/file/174521944/BM461-Global-Business-Environment-Q-1docx/

Page 3 of 4

Food Take Away market within the town Centre

Bibliography Allder, J., 2008. UK takeaway health: how takeaway restaurants can affect your chances of a healthy diet. National Consumer Council.

Maguire, E.R., Burgoine, T. and Monsivais, P., 2015. Area deprivation and the food environment over time: A repeated cross-sectional study on takeaway outlet density and supermarket presence in Norfolk, UK, 1990–2008. Health & Place, 33, pp.142-147.

Pang, X., Shang, Y. and Song, J., 2022, March. An Analysis of Deliveroo’s Operation Strategy and Food Takeaway Industry. In 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) (pp. 142-155). Atlantis Press.

Corfe, S.J.S.M.F., 2018. What are the barriers to eating healthily in the UK. The Social Market Foundation.

Hishamuddin, N.S., 2019. Understanding the growth of takeaway food apps in the UK: A supplier and consumer perspective.

Keeble, M., Adams, J., Vanderlee, L., Hammond, D. and Burgoine, T., 2021. Associations between online food outlet access and online food delivery service use amongst adults in the UK: a cross-sectional analysis of linked data. BMC public health, 21(1), pp.1-12.

Li, C., Mirosa, M. and Bremer, P., 2020. Review of online food delivery platforms and their impacts on sustainability. Sustainability, 12(14), p.5528.

Gallego-Schmid, A., Mendoza, J.M.F. and Azapagic, A., 2019. Environmental impacts of takeaway food containers. Journal of Cleaner Production, 211, pp.417-427.

 <Your Name> 2022

This study source was downloaded by 100000857952895 from CourseHero.com on 01-05-2023 11:45:42 GMT -06:00

https://www.coursehero.com/file/174521944/BM461-Global-Business-Environment-Q-1docx/ Powered by TCPDF (www.tcpdf.org)

Page 4 of 4