International cuisine was one of the cuisine types within convenience store channels, along with American cuisine, according to GlobalData’s menu intelligence database. In its menu analysis of convenience store in Cyprus report, GlobalData analyses 1,328 menu items across convenience store outlets and provides an overview of various foodservice channels in Cyprus. According to GlobalData, convenience store makes up 0.34% of all restaurant types in Cyprus. Buy the report here.
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Fruit was found to be the most-used ingredient in convenience store establishments, featuring in 11% of menu items, followed by hot drinks and nuts & seeds. Herbs, Spices & Seasonings and milk were also significant ingredients. An analysis of menu categories reveals that soft drinks, fruit, salads & sides, baked goods & morning goods and pudding & desserts were most popular within the convenience store format.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in Cyprus convenience store channel have flat growth. Considering all channels (including convenience store) the average price change was 0.11%. As on-premises dining gains momentum following the COVID-19 pandemic, the convenience store segment in Cyprus is expected to experience overall growth. Moreover, the introduction of new menu items that emphasize health and wellness generates interest in those seeking nutritious menu options and greater variety.
Different restaurant types exhibited mixed price movements within Cyprus foodservice market between 2023 and H1 2024. Of all the restaurant types, QSR exhibited highest price hike, while baker experienced a maximum price decrease.
An in-depth analysis of convenience store price trends by location reveals consumption trends of each region. The graph below represents the change in convenience store menu prices between 2023 and H1 2024 across the top five locations. As seen below, convenience store menu items in Nicosia became more affordable as compared to Limassol and Nicosia.
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In the Cypriot market, convenience store operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavors of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into Cyprus convenience store menu, buy the full report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Online Menu Intelligence is a database of cost and profit foodservice operators on menus within Foodservice Intelligence Center. The tool’s several search options, such as cuisine, category, menu item, ingredient, and restaurant, help users to conduct focused searches in terms of price analysis (average price and change in prices), menu item claims, popular categories, cuisine/ingredient penetration levels, etc.
