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- New Zealand Market Conditions
- New Zealand Confidence Index
- NZ Outlet Numbers took a hit in the pandemic and not yet recovered
- What are operators in New Zealand telling us?
- Fruit & Vegetable Trends in NZ
- Operator Market Outlook
- A new BIG DATA, AI Business Intelligence Platform has arrived for the Australian & New Zealand Foodservice Markets!
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Kia ora tātou ! HELLO EVERYONE!
Welcome to our November 2024 issue of the FOODSERVICE BULLETIN! In this issue, we look across to NEW ZEALAND and how their FOODSERVICE MARKET has recovered after the pandemic. Like in Australia, the pandemic and its impacts are truly behind them, and the market has returned to normal. | | | |
1. Current Economic Conditions in NZ | |
However, the New Zealand Foodservice Market is naturally impacted by current economic conditions. As is evident from NZ Stats graph on quarterly and annual GDP growth rates below, the COUNTRY’S ECONOMY IS WEAK – hovering around 0% growth since the fourth quarter of 2022. Technically, New Zealand has experienced two periods of economic recession, but more importantly, the country has not experienced a deep and prolonged recession since the world emerged from the pandemic.
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New Zealand’s ANNUAL INFLATION RATE has been falling steadily since it peaked at 7.3% in June 2022 to a September 2024 annual percentage rate of 2.2%. However, food price inflation has been even stronger than that experienced in Australia over the past couple of years.
New Zealand’s UNEMPLOYMENT RATE has been on an upward trajectory since September 2022, having increased to 4.6% in the June 2024 quarter. | |
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In line with what our interviewers report (see below), confidence levels among all NZFS Commercial Operators are at moderate levels with all in the 70+ point band; with the exception of Function Caterers on 69 points. Confidence levels are highest among Restaurants, Hotels, Pubs and QSR Independents. | | | |
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3. Decline in NZ Commercial Outlet Numbers Arrested in 2024 | |
As seen in the Australian Foodservice market, the decline in Commercial outlet numbers eased during 2024, meaning very few operators closed their doors permanently. As of September 30th, this year, New Zealand has in total 27,820 foodservice outlets across the four regions: Auckland – Other North Island – Christchurch – Other South Island.
Between 2023 & 2024, total Commercial Foodservice Outlets declined with only -0.6% while the decline over the previous reporting period, 2021 to 2023, was a significant -9.1%. | | | |
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4. Feedback from Foodservice Operators in New Zealand
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While the data speaks for itself, it is equally important to understand current market conditions and
operator environment – what we call QUALITATIVE DATA & INSIGHTS.
Our field team has over the past months been interviewing NEW ZEALAND Foodservice Operators right across the country. It is always interesting to listen to some of the anecdotal feedback that they report: | |
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RESCILIENCE Resilience is a word that perfectly summarises New Zealand foodservice operators at the moment. | | AGILITY So how does this mindset assert itself? In the main, operators are INVENTIVE & FLEXIBLE. | |
FEATURE DISHES There is a definite trend towards operators creating feature dishes on their menus. | | | |
MEAL DEALS In the current economic climate, meal deals have become hugely popular as New Zealanders are still eating out. | | COMPETITION CONSCIOUS Most foodservice operators are very much aware of the competition from other outlets around them.
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There is a lot more interesting detail available in our Latest News Article. | | | |
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5. FRUIT & VEGETABLES – a few trends!
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- New Zealanders tend to prefer rough-cut potato chips when eating out. Many operators, therefore, make them from scratch.
- They also prefer more vegetables with their meal than most Australians do – potentially because of the way they have been brought up with local, seasonal produce.
- New Zealanders are in general not big fruit eaters (except for kiwi fruit!). Mangos and pineapples, for example, are relatively expensive and rare; considered a luxury by many.
- Albeit ‘all you can eat salad bars’ tend to be popular; operators are hugely concerned with the food waste it creates.
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6. OPERATOR MARKET OUTLOOK
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As is evident from the above, Foodservice Operators are positive, optimistic and adaptable in their business approach going forward. They are pragmatic, knowing that things can change in the future, but also knowing that they will prepare for whatever comes. The majority think that “…my business will survive [whatever happens in the market]”. | | | |
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7. New BIG DATA tool available for Foodservice in AU & NZ!
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Introducing BRIZO FoodMetrics. Using AI enhanced data capture and analysis BRIZO provides the most detailed foodservice data service anywhere in the world.
Would you like location and contact details for your target foodservice operators filtered by cuisine, menu & ingredient analysis, price levels, size, and much more? Contact us to find out more.
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