Quick Service Restaurant Trends: How are global quick service restaurant trends changing the Icelandic quick service restaurant industry?

• Main Author: Sigurjón Arnórsson 1987-
• Other Authors: Háskólinn í Reykjavík
• Format: Thesis
• Language: English
• Published: 2013
• Subjects: Alþjóðaviðskipti; Viðskiptaáætlanir; Veitingastaðir; Skyndifæði; Meistaraprófsritgerðir; International business; Business planning; Restaurants; Iceland
• Online Access: http://hdl.handle.net/1946/16339

It is relevant for quick service restaurant operations to have a clear understanding of their industries leading market trends. New brands are constantly entering the market with new concepts and trends. Most of these quick service restaurant trends originate from the US and then spread throughout the world’s leading brands. Iceland´s quick service restaurant industry was fairly undeveloped until an industry surge in the 1980´s. During this time, Iceland’s restaurant scene has been greatly affected by changing global quick service restaurant trends. Iceland’s process of adapting US quick service restaurant trends can be demonstrated by looking at the two nations’ different stages of their quick service restaurant industry development. The current leading global trends in the quick service restaurant industry are healthy food, fast casual, quality, simplicity, convenience, snacking, declining popularity of carbonated soft drinks, social media marketing, complex product development mechanisms, international human resource management strategies, internationalization and changing pricing strategies in response to the 2008 financial crisis. Despite its history of being slow to adopt global trends, Iceland’s quick service restaurant industry has become efficient in adopting modern trends. However, the Icelandic industry has yet to produce a brand that has achieved considerable success through international expansion. The analysis of leading Icelandic and global quick service restaurant trends will be used to complete a business plan which will be provided for in the appendix section of this thesis. The goal of the thesis is to develop a modern quick service restaurant model that could be applicable in real life and be entered into business plan competitions. Það er mikilvægt fyrir þá sem reka skyndibitastaði að hafa góðan skilning á helstu markaðsstefnum sem ráða ríkjum í þessu viðskiptaumhverfi. Nýjar keðjur skyndibitastaða og vörumerkjamerkja eru stöðugt að koma inn á þennan markað með nýjar hugmyndir og ...