Serving Asia's QSR Appetite

OPTIMISM marks the regional food, hospitality and travel industries, as Asia Pacific international arrival numbers are expected to see a healthy four to five per cent growth between 2009 and 2011, with the main expansion occurring from 2010 onwards. New trade opportunities are surfacing as emergent countries from Asia further open their doors to foreign trade activities, and lower airfares brought on by the emergence of budget carriers have boosted demand for travel and hotels in the region. Even so, still mindful of one of the toughest years on record, restaurant operators are making sure business returns to profit in 2010 with further cost-cutting measures. Menu innovation will play an essential role for restaurant operators. Looking to entice diners, quick service restaurants will depend on the support of suppliers for menu innovation and differentiation. Opportunities exist for food and beverage processors who can provide ingredients and value-added products that will allow quick service restaurant (QSR) operations to improve turnover. It's essential to offer product development services and work along with QSR commissary or kitchen managers and marketing departments to develop great additions to menus. Consumer confidence-and spending-up Nielsen's latest Global Consumer Confidence Index, which tracks consumer confidence, major concerns and spending intentions in 55 countries, indicates that Asia Pacific consumers-who were amongst the first to cut back drastically on discretionary spending 18 months ago-are now confident enough to spend their way into higher growth. "Nowhere is the return to consumption and shopping habits more evident than in Asia Pacific, where consumers have indicated they are ready to spend," according to the latest edition (May 2010) of the Nielsen Global Consumer Confidence Index. India (127 Index points), Indonesia (116) and Norway (115) remained the world's most confident nations, followed by the Philippines (111) and Australia (111), whilst Taiwan (+14 pts), Singapore (+11), Israel (+10) and Colombia (+9) were amongst the highest increases in consumer confidence in Q1 2010, the survey conducted between March 8 and March 26, 2010 found. "For the first time in two years, Nielsen's global consumer confidence data provides evidence that economic prospects are improving-a sign manufacturers and retailers have been eagerly waiting for that consumer spending intentions are turning into actual spending reality," the global Nielsen consumer report says. The rise in global consumer confidence is the most definitive sign that the world is beginning to recover from the recession, notes Nielsen. "As the world's consumers started to spend again, they drove the index up to 92 points (100 = average) in the firest quarter. This represents a six point increase from six months ago and only two points short of the 94 point index mark in Q3 2007, just prior to the decline into world recession," comments the report. In the region, Viet Nam consumer confidence dipped eight points from six months ago, likely due to consumer price increases of 8.51% compared to Q1 2009, but overall when it comes to Asia Pacific, Nielsen reports consumer confidence is back in the region: Asia Pacific posted highest confidence increase of all regions (+8) due in part to big jumps in Taiwan (+14) and Singapore (+11). The world's two fastest growing emerging markets of India and China increased by seven index points respectively. Consumer confidence in China rebounded to 108 index points, reaching its highest CCI record from Q1 2005. Nielsen reports that Asian consumers who cut back drastically on all aspects of discretionary spending 18 months ago, have now indicated they plan to increase spending on out-of-home entertainment (+9 per cent), new technology (+6), holidays (+6) and new clotNike KD