Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/62026
next two years, said Pérez. "All in all, we are pretty bullish about the next two to five years, where we could easily double the number of units we have in the re- gion," he said. Foreign casual-dining chains are not going to have Latin America to them- selves, however. Colombia's Crepes & Waffles has about 50 restaurants across seven Latin American countries. Chile has several homegrown chains — including Gatsby, Mamut and Tip y Tap — that have attained a "fair-price, quality and location equilibrium," said Renato Figueroa Roig, a retail consul- tant in Chile. "The cosmopolitan look of their ample stores, simple menus that appeal to all without necessarily being lo- cal cuisine or sophisticated entrées, and the generous meal portions make them a favorite of the middle and upper-middle classes," said Figueroa. "Prices are mass- oriented, but the chains do strive to offer quality to clients." In Brazil casual dining was popular a decade ago, and the category contin- ues to grow, along with other dining concepts, says Aboitiz. "Brazil's food sec- tor is mostly made up of local players," he said. "Many local players filled the vacuum by upgrading or adapting to the casual-dining category." Galeto's, specializing in roasted chicken, did just that, and so did Alma- nara, a Middle Eastern food concept and Devassa, a chain of bars that also serves food. America, Fifties and Joe & Leo's are all casual-dining Brazilian chains that specialize in burgers and are doing well in that niche, Aboitiz says. He estimates that there are about 400 casual-dining restaurants in Brazil, each doing some $3 million yearly. Restaurants in Brazil must contend with the popular "kilos" restaurants that sell a variety of meats, sushi, sal- ads and carbohydrates by weight. In a country where a casual-dining meal can cost at least $20, this category is a strong competitor to both fast-food and casual dining, Aboitiz says. Nev- ertheless, he said, "the casual dining industry has plenty of room to grow at The casual-dining industry has plenty of room to grow at the pace of Brazil's economic growth, particularly outside of Rio de Janeiro and São Paulo. the pace of Brazil's economic growth, particularly outside of Rio de Janeiro and São Paulo." SCT Fast-casual dining is gathering steam too Fast-casual dining is growing as fast as its slower cousin. Unlike casual-dining restaurants, the fast-casual variety does not offer full table service, but does have a nicer atmosphere and better food. The price per person is usually no more than $10. In Latin America fast-casual restaurant sales are much higher than casual-dining receipts, ac- cording to Euromonitor International. Fast-casual sales in 2005 were $144.7 million and more than doubled by 2010, to $327.5 million. At least two chains are now looking to tap this market. Pei Wei Asian Diner, fast- casual sister chain to P.F. Chang's China Bistro, opened its first Latin American unit, in Mexico City, in December through a licensing agreement with Alsea Group. Two more units will be unveiled in Mexico City this year. SPOLETO BRINGS ITALY TO LATIN AMERICA. Spoleto, a Brazilian chain of Italian fast-casual restaurants, has 283 units in Brazil, 26 in Mexico and two in Spain. Its owner, Grupo Umbria, has signed onto a master-franchise agreement to open two stores in Costa Rica this year. The company is also looking to enter Argen- tina, Chile, Peru and Venezuela. "The fast-casual segment is gaining strength as the economy grows and more people are having access to pleasures that they didn't used to have, such as dining out more often," said Edwin Junior, Spo- leto's international expansion and devel- opment planning manager. "Customers see in a fast-casual concept more bene- fi ts than ever." — MBP 224 SCT / MAY 2012