The Mexican restaurant sector goes through a complicated stage of growth, since the population goes less frequently at restaurants and visitors who go for a service spend less, given the economic slowdown in Mexico.
The low influx of visitors at restaurants is also linked with the fall in the consumer confidence that during the first five months of this year recorded falls, in addition that inflation rose in the first half of the year, so the families spent less.
Although private sector analysts forecast that the economy will start to grow in the second half of the year, the confidence of consumers will also increase or improve, which will lead to an increased consumption of durable goods and other services, such as the one of the restaurants.
The confidence of the restaurant guild goes online with economic analysts, who expect that the national economy will revive in the second half of the year.
Although the sector estimated originally to close this year with a growth of 6%, adjusted the forecast to 4.5% and hardly will reach 5%, like last year.
In this sense, Manuel Gutiérrez García, president of the Cámara Nacional de la Industria de Restaurantes y Alimentos Condimentados (Canirac), said that this sector of services in Mexico will recover its dynamism as the economy reactivates.
One of the strategic measures of restaurateurs is to establish a greater link with the supplier companies in the industry to provide products at competitive prices, with this strategy restaurants will retain their utility margins, which have fallen because of the economic slowdown.
Similarly, the sector needs sources of financing and promotion to recover its growth, because since 2009 it holds with its own resources and does not grow to the desired levels.
Another factor that affects the low growth in this sector is high prices at some grocery and although it is a cyclical phenomenon, the value of food offered to customers is maintained at low levels, so their profits are marginal.
To see the relevance of this service sector in Mexico in the national economy, we can mention that it is the second source of jobs in the country, adding more than 1.5 million formal jobs, and 3.5 million indirect jobs, according to statistics from the Secretaría de Economía (SE).
Currently there are 428,000 formal establishments in Mexico that average annual sales by about 200 billion pesos, equivalent to 1.4% of gross domestic product (GDP).
Of the total of settlements that include “torterias”, diners, juice shops, Taco, cafes, fast food restaurants and full service restaurants, 96% are micro, small and medium-sized businesses.
(Judith Santiago / Mexican Business Web)