With a booming tourism industry, Turkey's restaurant scene is flourishing. But with high competition, many restaurants struggle to survive. For F&B and FMCG companies looking to succeed in this market, having insights into the restaurant industry is crucial.
30% of restaurants fail in the first year, and 60% fail within 3 years.
Overview
When the market change quickly, having a robust modern way to track the market is crucial. We mapped Restaurants, Cafes, and Bars as well as Hotels in Turkey in a way that has never been done before.
Geographical Distribution
Geographical distribution speak for itself, Istanbul has the highest concentration of food and beverage establishment in the country followed by Izmir then Ankara, The capital.
Geographical distribution speak for itself, Istanbul has the highest concentration of food and beverage establishment in the country followed by Izmir then Ankara, The capital.
Istanbul food and beverage
Istanbul has 39 districts varying in size and popularity. 25 of those districts are on the European side and the rest are on the Asian side.
The food and beverage scene is stunning with as high as 50,000 F&B data points in the city alone.
Traffic and popularity of places
Traffic means how popular and busy a place is, we collected data from multiple phone sensors to come up with an index of how lively and busy each location is compared to others.
You don't have to be in the city center to get high traffic, there are other cozy locations that capture more people as well.
Tracking market change
Restaurants close frequently, and about 30% of the market change each year for various reasons. Tracking this change gives great benefit to food manufacturing companies as follows:
- Identifying trends and patterns
- Prioritization to capture rising demand
- Forecasting demand
- Understanding consumer behavior
- Developing effective marketing strategies
- Improving product development
Hotels in Turkey
Hotels in Turkey offer a lucrative business opportunity for FMCG companies. With millions of tourists visiting each year, hotels provide a consistent demand for products and attract a diverse customer base. In summary:
- Diverse customer base: Tourists from many places globally
- Longer stays: Hotel guests typically stay longer than restaurant customers, providing manufacturing companies with more opportunities for repeat business.
- Brand exposure: Products in hotels can be seen by a large number of guests, providing companies with increased brand exposure and potential customer reach.
- Large orders: Hotels often place larger orders than restaurants, which can provide FMCG companies with increased revenue opportunities and more stable sales.
- Less seasonal variation: Unlike restaurants, hotels typically have less seasonal variation in demand, which can provide companies with more stable and predictable sales.
- Partnership opportunities: Hotels may partner with FMCG companies for various promotions and events, providing opportunities for cross-promotion and collaboration.
Conclusion
In conclusion, with the vast number of restaurants and hotels in Turkey, it can be challenging for FMCG companies to keep track of their market and make informed decisions.
For more information, sent us to sales@xmap.ai
