GlobalData’s Mark Dempsey: QSRs ‘likely’ to steal market share from FSRs in coming years
He will share a trends presentation at the upcoming QSR Media UK Conference & Awards.
Mark Dempsey, global consulting director for GlobalData, is joining the QSR Media UK Conference & Awards — happening on June 28 in London — to share a presentation on the latest trends surrounding the QSR industry.
Dempsey brings over 20 years experience in the foodservice sector to his role at GlobalData. Mark joined the GlobalData team in 2017 following five years living in Canada where he was an insights leader for PepsiCo.
An acknowledged thought-leader in the foodservice industry, often seen chairing or key-noting conferences and providing consistent new actionable insight for his global clients, Dempsey brings significant expertise ranging from restaurant segmentation and market sizing, to innovation and assortment strategic planning, and the study of global best practices.
Get a preview of Dempsey’s thoughts in our quick Q&A below. (Editor’s Note: The interview has been lightly edited for clarity.)
QSR Media: What is the state of the QSR/fast casual restaurant industry from your point of view?
Dempsey: In general, the QSR market will see strong performance in the coming years as consumers return to their favourite foodservice experiences and brands.
QSRs will likely steal market share in the coming years from FSRs for two reasons: Firstly, that consumers post-covid may still remain nervous about larger gatherings of consumers that would traditionally be seen in FSR, therefore the take-away/drive-thru options available in QSR may become more attractive. Also, we must remember that millions of consumers around the world have been negatively impacted financially by COVID, and the value end of the QSR market will thrive due to this.
Secondly, at the other end of the QSR spectrum, the Fast Casual market – synonymous with “experience”, “premiumisation” and “Indulgence” will thrive as experience-seeking consumers flock to the fastest growing foodservice channel. Gold standard Fast Casual players such as Five Guys, Chipotle, Panera Bread, Shake Shack will capitalise upon this demand for quality seen from many consumers and drive the QSR market into several years of strong growth.
What are some key lessons/insights/trends that brands have learned/further understood/need to know as we navigate current challenges?
The consumer is laser-focused on ethics and wellness, and will only become more so over the next few years. Winning operators today – and into the future – will be those able to clearly and powerfully communicate their ethics and values.
Everything from the sustainability agenda, to clean label developments to fair trade sourcing will be a critical part of brand messaging. Hand-in-hand with this will be the need to consistently improve the health and wellness of the menu.
Consumers today will expect healthy (not just “healthier”) solutions to become the norm in QSRs; this may in some instances closely link to ethics with Vegan / Plant Based solutions becoming a critical part of all QSR menus over the next few years.
What can we expect from your panel discussion at this year's QSR Media Conference & Awards?
A focus on gold standards as seen from around the world. A focus on the consumer motivations and perceptions that will allow operators to create genuine points of difference and drive sales.