cuisine was one of the cuisine types within other retail channels, according to GlobalData’s menu intelligence database. In its menu analysis of other retail in Cyprus report, GlobalData analyses 86 menu items across other retail outlets and provides an overview of various foodservice channels in Cyprus. According to GlobalData, other retail makes up 0.17% of all restaurant types in Cyprus. Buy the report here.
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Confectionery was found to be the most-used ingredient in other retail establishments, featuring in 16% of menu items, followed by cream and fruit. Cheese and nuts & seeds were also significant ingredients. An analysis of menu categories reveals that baked goods & morning goods, pudding & desserts and Soft Drinks were most popular within the other retail format.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in Cyprus other retail channel have dropped by 0.04%. Considering all channels (including other retail) the average price change was 0.11%. As on-premises dining gains momentum following the COVID-19 pandemic, the other retail 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 other retail price trends by location reveals consumption trends of each region. The graph below represents the change in other retail menu prices between 2023 and H1 2024 across the top five locations. As seen below, other retail menu items in Limassol became more affordable as compared to Limassol and .
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In the Cypriot market, other retail 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 other retail 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.
