Betting on sales through digital channels, offering dishes at more accessible prices and carrying out promotions are some of the strategies that some casual dining restaurants that compete in the Costa Rican market seek to apply.
The spread of covid-19 severely affected the restaurant sector, especially businesses that did not sell through digital channels or did not have options to deliver their products to their homes.
In Panama, in the last three decades the business has been growing, which is reflected in the considerable increase in franchises, which compete for a share of the market.
The first international franchises to reach the country were Pizza Hut and Domino's Pizza in 1987 and 1988, respectively. Then others were established such as Tamburelli Pizza & Pasta, Athen´s Pizza, Ciao Bella Pizza, Pizzería Italiana and Napoles.
Thirteen fast food franchises will be opening 40 new stores this year, after 2015 saw the arrival of some new players and the departure of others.
A survey carried out by Nacion.com on the franchising industry revealed that about 40 new stores will generate 360 jobs this year, compared to the 654 redundancies recorded in fast food restaurants segment in 2015.
The crisis in industrialized economies is leading large international brands to look towards countries like Costa Rica, where consumption is growing and becoming sophisticated.
The developed world's economic crisis has forced multinational companies to set their sights on new markets which are emerging and dynamic, and have a sufficient number of consumers with high purchasing power to do business with their brands.
The GAP clothing chain will open its first store in Panama in late February.
This opening in the new phase of Albrook Mall, marks the start of expansion into Central America and the Caribbean.
The company plans to open two more stores this year in Panama, one in Metromall and one in Multiplaza.
"Paul Levy, president of Superior Brands Holding, the exclusive representative for Gap in Panama, Central America, the Caribbean and the North Cone of South America says that this expansion also involves the entrance of the sister brand, Banana Republic, which is characterized as an accessible luxury brand. Both brands will be coming to Colombia and Costa Rica. "
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