Russia: Fast Food Sector Keeps Expanding As Economy Cools
The fast food sector in Russia has grown sharply in recent years as consumers having seen nearly 30 percent current value growth in 2013. Russian consumers demand well-known, affordable, and consistent quality standards provided by chained restaurants. Approximately 100 fast food operators manage almost 3,800 chain restaurants in Russia. Today fast food is the most popular segment for young and middle-aged Russian consumers. Research has shown that more than 54 percent of fast food restaurants visitors are from 18 to 34 years old with average monthly income of 30,000 rubles. While the economic slowdown and currency devaluation are slowing down fast food expansion plans in Russia, research has shown that consumers are switching from higher end restaurants to mid-level and fast food type establishments which should help fast food chains weather the challenging economic times.
