- The growth rate of domestic coffee shops hit a 13-month low
- The first batch of cooperative stores outside the mountain is about to land
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Yuan Ji Yun dumplings went to New York, USA
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Tea Baidao is expected to be listed on April 23
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Naixue's tea Q1 added 23 stores, with a single store investment of 580,000 yuan
- Decathlon crosses over to make coffee
- Tea and Joy launched a bistro sub-brand
- ...
In the post-epidemic era, what else is happening in the catering industry this week?
2024-4-21
Food & Beverage O2O Weekly Report
1. Industry information
1. China Cuisine Association: The catering market got off to a good start in the first quarter
According to data released by the National Bureau of Statistics today, in the first quarter of this year, the national catering revenue was 1,344.5 billion yuan, a year-on-year increase of 10.8 percent, and the catering income of units above designated size was 355.1 billion yuan, a year-on-year increase of 9.2 percent.
Among them, in March, the national catering revenue was 396.4 billion yuan, a year-on-year increase of 6.9 percent, and the catering income of units above designated size was 117.4 billion yuan, a year-on-year increase of 3.2 percent.
According to the analysis of the China Cuisine Association, the growth rate of national catering revenue and the growth rate of catering revenue above designated size in the first quarter decreased by 3.1 percentage points and 9.1 percentage points respectively compared with the same period last year. In the first quarter, the catering market achieved a good start, and the growth trend of catering consumption was good.
2. The growth rate of domestic coffee shops hit a 13-month low, and the growth momentum has returned to operation
Since December 2023, the pace of opening stores for coffee brands has been slowing, and the capital market is not as active as it was in the same period last year.
According to the statistics of Narrow Door Restaurant, in March 2024, a total of 592 new stores were opened by 20 chain coffee brands in China, and 41,273 existing stores were opened, which is the smallest number of stores opened since March 2023.
Judging from the brand's existing stores, Luckin Coffee still occupies the first place, followed by Starbucks and Cudi. Among them, the number of Luckin Coffee stores has reached 18,272, and at this expansion rate, it is expected to exceed 20,000 this year.
3. KPMG report: the total revenue of the catering industry has recovered to the level of 2019
KPMG China, together with the China Cuisine Association, the Guangdong Catering Service Industry Association and the Shenzhen Cuisine Association, jointly created and released the 2024 Catering Enterprise Development Report.
According to the report, in 2023, the total revenue of the catering industry will reach 5.2 trillion yuan, breaking through the 5 trillion yuan mark for the first time, an increase of 20.4% year-on-year in 2022, and the contribution rate to social consumption will reach 11.2%, returning to the level of 2019.
From 2014 to 2023, the compound annual growth rate of the catering industry in mainland China reached 7.3%, showing its strong development momentum.
4. The seminar on "Hong Kong's Advantages Help Sichuan and Chongqing Catering Enterprises Go Overseas" was held in Rongyu and Chongqing
Invest Hong Kong (InvestHK) of the Government of the Hong Kong Special Administrative Region (HKSAR) and the Department of Commerce of Sichuan Province jointly organised a seminar on "Hong Kong's Advantages Help Sichuan F&B Enterprises Go Global" on 16 April.
On 17 April, a seminar on "Hong Kong's Advantages Help Chongqing Catering Enterprises Go Global" was held in Chongqing, attracting representatives of more than 30 Chongqing catering enterprises, with the aim of encouraging Chongqing catering enterprises to give full play to Hong Kong's business advantages and explore new overseas business opportunities.
5. From "Internet celebrity" to the public, can Chinese fast food break through the "price war"?
"The catering industry is very volatile, and when other merchants generally reduce prices, the traffic of stores that have not reduced their prices will be 'swept away' by others. ”
According to media reports, some industry insiders believe that most Chinese fast food brands are "forced to cut prices" and attract traffic through low-cost packages, thereby driving the sales of their main products.
Wang Guoyu, the founder of Nancheng Xiang, has publicly stated many times that "the price war of catering is about to start", and believes that chain brands will be the biggest beneficiaries of this price war.
For the "price war" that is essentially a cost, chain brands have obvious advantages in terms of supply chain, scale and branding, and it is easier to achieve "ultimate cost performance". However, compared with Western-style fast food, which has been in the Chinese market for many years, Chinese fast food still has many problems to be solved.
Due to their early entry into the Chinese market, some established foreign fast food brands have been localized, with a large number of suppliers and mature supply chains, which can obtain raw materials at lower prices and have more advantages in terms of cost.
In terms of marketing, foreign fast food brands are also doing well. Under the backdrop of a number of hot stalks such as "Crazy Thursday v Me 50" and "Maimen Forever", foreign fast food brands have firmly grasped the young consumer group and further improved their brand identity.
Food & Beverage O2O Weekly Report
Second, the dynamics of catering enterprises
1. The goal of the first phase of Taier is to achieve 1,000 stores, and the first batch of cooperative stores outside the mountain will be landed soon
Recently, Jiumaojiu said that Taier will still open direct stores in third- and fourth-tier cities this year, and the number of franchise stores has not been specified, and the group's first phase goal for Taier is to open 1,000 stores.
In addition, Shanwai will promote the opening of stores in all cities except Guangzhou in a cooperative way, and the group is still looking for partners in first-tier, new first-tier and second-tier cities in China, with more than 10 stores currently in progress, and the first batch of cooperative stores is expected to land in the middle of this year.
2. Quanjude ended a three-year losing streak and finally made a profit!
After three consecutive years of losses, Quanjude, a time-honored brand with a history of 160 years, can finally take a breath.
On the evening of April 15, Quanjude released its 2023 annual report, in which the company achieved operating income of 1.432 billion yuan, a year-on-year increase of 99.27%, net profit attributable to shareholders of listed companies of 60 million yuan, a year-on-year increase of 121.67%, and non-net profit of 47 million yuan, a year-on-year increase of 116.52%.
It is worth mentioning that in 2023, the investment income of Quanjude will be 31 million yuan, accounting for about half of the net profit.
3. Yang Guofu plans to open 20 new stores in Germany in 2024, and plans to exceed 100 in the future
On April 12, Yang Guofu Group's official Weibo posted that following the enthusiastic response to the opening of the Düsseldorf store, Yang Guofu Group has reached an important strategic cooperation with YGF Vermögensverwaltung GmbH in Germany.
In the future, the German team plans to complete the expansion of 20 stores in Germany in 2024, and adopt strategies such as expanding stores, increasing the yield of a single store, and planning the classification of S-level stores, A-level stores and B-level stores to enhance brand influence and market share.
In addition, Germany plans to exceed 100 stores in the future and extend the brand's potential to all regions of Europe.
4. Yuan Jiyun dumplings went to sea to New York, USA
Recently, Yuan Ji Yun Dumplings announced on their official Weibo that Yuan Ji Yun Dumplings will soon land in Manhattan, New York and open a store. According to reports, the project was successfully signed on March 31.
Yuan Ji Yun Dumpling now has 3,424 stores, covering 28 provinces and 165 stores. This brand, which was established in 2012, has opened stores in only 12 years.
5. The fourth Ronald McDonald House in Chinese mainland will land in Shenzhen
On the 20th, the 8th "Run for Love for McDonald's" hosted by McDonald's China started today at Shenzhen Splendid China Folk Village.
Nearly 25,000 families signed up for this year's "Run for Aimai", bringing together nearly 60,000 runners. In addition, the fourth "Ronald McDonald House" in Chinese mainland has landed in Shenzhen, which is expected to be completed in 2024.
6. The "KFC Town Mini Restaurant Model" will be fully open to franchisees
A few days ago, the "2024 Yum China Franchise Development Conference" was held in Shanghai. According to reports, Yum China will empower the franchise business with the strategy of "6 new", namely: new opportunities, new fees, new models, new investments, new designs and new technologies.
Zhang Xia, general manager of Yum China's franchise development department, will further open up more towns and new channels, support the development of franchise business with rich and flexible models and lower new store investment, and win-win cooperation in new charging models, make full use of AI technology to provide intelligent support, and provide all-round training to improve franchisees' business capabilities, negotiation capabilities and work efficiency.
7. The Shanghai store of the American hamburger chain brand Habit is closed
Recently, some media published that the current stores of The Habit Burger Grill in Shanghai have all been "closed", and now there is only one store left in Chinese mainland Chongqing Jiangbei Airport.
In November 2017, Habitt Burger opened its first store in Shanghai Fuxing SOHO in China, followed by stores in some shopping malls, performance halls, transportation hubs and other areas in Shanghai.
According to public information, at its peak, Habitt Burger had 7 stores in Shanghai, and once expanded its stores to Hangzhou.
But Habitt Burger has gradually shrunk in recent years, leaving only four stores in Shanghai at the beginning of this year, and closing all of them by early April.
8. Consumers are disgusted with eating out and being asked for praise
Recently, many consumers have said that they have been asked for good reviews by restaurant waiters more and more times when dining out, making them feel uncomfortable and even lose trust in the platform and restaurants.
Many consumers said that it was a public platform that provided business information and accepted consumer evaluations, but now it is full of all kinds of false praise, the objective authenticity is greatly reduced, and the meaning of reference has been lost.
Some analysts said that this kind of behavior urging customers to praise is overdrawing the trust of consumers.
Food & Beverage O2O Weekly Report
3. Drink Express
1. Naixue's tea Q1 added 23 stores, with a single store investment of 580,000 yuan
On April 18, Nai Xue's Tea released a business update announcement for the first quarter of 2024, during which the investment amount of a single store has dropped to RMB 580,000.
As of March 31, the number of Naixue's tea directly operated stores was 1,597, an increase of 23 stores from 1,574 at the end of 2023.
Among them, 20 new directly-operated stores were added in first-tier cities to 562, 7 new first-tier cities increased to 559, and the number of directly-operated stores in second-tier cities decreased by 8 to 320.
2. Tea and Pleasant Colors opened the "Day and Night Poetry Tea Wine Art and Culture Little T Tavern"
On April 15th, Chayan Yuese announced the opening of the "Day and Night Poetry Tea Wine Art and Culture Bistro", and the first batch of 5 stores were opened in Changsha Wuyi Business District, namely the Day and Night 7mall Outer Street Store, the Day and Night Taiping Granary Store, the Day and Night Abrupt Store, the Day and Night Xingyue Building Northwest Corner Store, and the Day and Night Century Love Three-story Store.
It is reported that the store cuts into the theme of literature and art with poetry, hoping to create a leisure restaurant with the integration of characteristic tea and wine. At present, the stores are divided into regular store type and mustard store type.
From the point of view of decoration, the store is based on the theme of traditional corner tower style. According to the relevant person in charge of the tea and joy brand, from the name of the drink to the door LOGO, store decoration, and product packaging, we try to use exaggerated colors and lines, full emotions and imagination to show the emotional world of people's ups and downs, and convey the attention to "individuals full of small emotions".
According to the relevant person in charge of Chayan Yuese, by the end of 2024, 30 poetry and wine tea art and culture taverns are planned to be opened in Changsha. In fact, Day and Night Poetry Wine Tea Art and Culture Bistro is not the first sub-brand of Chayan Yuese.
Since 2022, Chayan Yuese has successively established a sub-brand "Yuanyang Coffee" to position new Chinese coffee and tea, while "Goodmo Lemon" is the main new Chinese lime tea drink, both of which are directly operated.
3. Happy Sweet Potato, a chain tea brand, will open its first store in the Hong Kong market
It is reported that a few days ago, Happy Sweet Potato, a tea brand from Xiamen, opened a Facebook page, revealing that it will land in Tsuen Wan, Hong Kong in April.
This is the brand's first store in Hong Kong, and the number of stores in the mainland market has now exceeded 2,500.
Happy Sweet Potato is an innovative company on the New Third Board, and previously announced the establishment of a wholly-owned subsidiary in Hong Kong to further expand overseas markets, improve the industrial layout, further enhance the company's profitability, and promote the company's sustainable and stable development.
4. The first store in Australia landed in Melbourne's Chinatown
On April 16, Xiaohongshu announced @ChaPanda Australia that Chabaidao is about to open its first store in Australia, which will land in Melbourne's Chinatown, and is currently being renovated, and the opening time is to be determined.
5. Luckin Coffee (Jiangsu) roasting base was put into operation, and a new company in Tibet was established
On April 20, Luckin Coffee (Jiangsu) roasting base was officially put into operation in Kunshan, Suzhou. With a total investment of 120 million US dollars and an annual roasting capacity of 30,000 tons, the base is the largest single coffee roasting base in the domestic coffee industry.
The base is located in the Kunshan Comprehensive Bonded Zone, covering green bean storage, distribution, roasting, packaging and sales. Guo Jinyi, Chairman and CEO of Luckin Coffee, attended the opening ceremony.
He said that the base will provide stronger quality support for more than 16,000 stores of Luckin Coffee across the country, and Luckin will continue to provide high-quality, convenient and cost-effective coffee products and services to the market.
In 2021, Luckin Coffee opened its first fully automatic intelligent roasting base in Fujian. In the future, relying on the two major coffee roasting bases in Jiangsu and Fujian, Luckin Coffee will form a self-processing roasting supply network with an annual production capacity of more than 45,000 tons. By the end of 2023, the number of Luckin stores nationwide has exceeded 16,000.
According to the Tianyancha App, on April 16, Luckin Coffee (Tibet) Co., Ltd. was established, the legal representative is Chen Tao, with a registered capital of 5 million yuan, and its business scope includes catering services, food sales, catering management, advertising release, marketing planning, etc. According to shareholder information, the company is wholly owned by Luckin Coffee (China) Co., Ltd.
6. The IP "Naiva Family" of the United States ONE opened the first "silent coffee shop" in Shanghai
ON APRIL 18, THE FIRST OFFLINE STORE OF LI JIAQI'S COMPANY'S CUTE PET IP "NEVER'S FAMILY" (NEVER'S FAMILY) - NAIVA FAMILY COFFEE SHOP OPENED IN SIFANG CITY, PUDONG NEW AREA, SHANGHAI, WHICH WAS JOINTLY CREATED BY THE NAIVA FAMILY AND BEAR CLAW COFFEE.
Unlike ordinary coffee shops, this shop is a "silent coffee shop", and the baristas are mostly people with disabilities. According to One View Commercial, the store is located on the first floor of the office building, and is not an independent store, but an open space.
The whole scene is purple, with multiple check-in points set up, and peripheral products such as blind boxes and dolls are sold. In addition to the scene layout, coffee cups, paper towels, cup holders, paper bags and other items are customized by IP.
7. Tims Tianhao China's revenue in 2023 will be 1.58 billion, an increase of 56%
On the evening of April 18, Tims Tianhao China announced its financial results for the fourth quarter and full year of 2023. Total revenue for the full year of 2023 was RMB1,576 million, an increase of 55.9% over 2022.
The total number of net new store openings was 295 (Tims has 72 self-operated stores and 213 franchised stores, Popeyes has 10 company-owned and operated stores), and the total number of system-wide stores at the end of the year was 912, including 629 self-operated stores and 283 franchised stores, covering 68 cities across the country.
Total revenue for the fourth quarter of 2023 was $391 million, an increase of 29.8% over the same quarter in 2022. The total number of net new store openings was 149 (including 34 self-operated stores, 109 franchised stores, and 6 company-owned and operated stores by Popeyes).
Food & Beverage O2O Weekly Report
4. Listing investment and financing
1. Tea Baidao was listed on April 15 and is expected to be listed on April 23
On April 15, Chabaidao announced that it intends to offer about 148 million H shares globally.
Among them, 14,776,400 H shares in the Hong Kong offering, approximately 133 million H shares in the international offering, and 15% over-allotment option at an offer price of HK$17.5 per share, will be offered to the public from 9 a.m. on April 15, 2024 to 11:30 a.m. on April 18, 2024, with CICC as the sole sponsor, and the shares are expected to be listed on the main board of the Stock Exchange on April 23, 2024.
In June 2023, Chabaidao received its first public financing in more than a decade since its establishment. On the evening of August 15 of the same year, the prospectus of Chabaidao was disclosed on the official website of the Hong Kong Stock Exchange, and it planned to be listed on the main board of the Hong Kong stock market. On December 21 of the same year, the official website of the China Securities Regulatory Commission disclosed the filing notice of the overseas issuance and listing of Chabaidao and the full circulation of domestic unlisted shares.
At the launch event in Hong Kong, Cha Baidao also said that the overseas market has "great potential" and that it has opened its first overseas store in South Korea in 2023.
2. The veteran Cantonese cuisine Yihui was listed on the Micro Connect Australian Stock Exchange to raise 5.75 million yuan
According to the official website of Micro Connect ASX, on April 12, 2024, three stores of the veteran Cantonese cuisine brand Yihui (brand code: HYHX) successfully listed daily revenue sharing certificates (DROs) on the Micro Connect ASX, with a total financing amount of RMB 5.749 million and an average association period of 13.5 to 48 months.
Financial institutions participating in this batch of DRO subscriptions include Peng Fa Fund, Oriental Patron Asia Securities Limited and other financial institutions. According to public information, Yihui Group was established in 1998, mainly engaged in seafood restaurants and Cantonese cuisine, and has also incubated Japanese cuisine (including barbecue) and seafood hot pot categories.
Food & Beverage O2O Weekly Report
Fifth, the new retail cross-border of takeaways
1. Decathlon crosses borders to make coffee, and the first store in the country landed in Shanghai
On April 15th, Decathlon's first coffee corner in China, COFFEE HOUSE, opened in Decathlon's Wujiaochang store in Shanghai, with a total of coffee, sports drinks, roasting and other series.
According to One View Commerce, the store is located in the Decathlon store in Wujiaochang, which exists in the form of a shop-in-shop, and the overall decoration continues the brand's classic blue, supplemented by the warm style of beige.
In addition, the Decathlon coffee mini program has also been officially launched, and it can only be ordered at the first store in Shanghai.
2. Snacks are busy: The average daily sales of "Super Snacks are busy" stores exceed 200,000
It is reported that recently, the two snack stores of "Super Snacks are Busy" and "Snacks are Big" under Snack Busy have become popular in Changsha, and the stores have taken PLUS snacks as the highlight to attract consumers to take photos and check in.
According to official statistics, since the opening of the "Super Snacks Very Busy" store on January 27, the average daily sales have exceeded 200,000, and the sales of 600,000 in a single day have been created during the Qingming Festival.
3. The net profit of the three squirrels increased in the first quarter
On April 16, Three Squirrels announced that the company achieved operating income of 3.646 billion yuan in the first quarter of 2024, a year-on-year increase of 91.83%, and a net profit attributable to the parent company of 308 million yuan, a year-on-year increase of 60.80%.
The three squirrels said that this lays the foundation for the realization of the overall goal of "returning to 10 billion yuan and becoming stronger in the whole country" in 2024.
According to the 2023 financial report, the revenue of Three Squirrels is about 7.115 billion yuan, a year-on-year decrease of 2.45%, and the net profit is about 220 million yuan, a year-on-year increase of 69.85%.
4. Jinzai Food's "three-year doubling" plan has attracted attention
Recently, Wang Tsai Food held an annual general meeting of shareholders, and how to achieve the new three-year doubling plan has become the focus of institutional investors.
Zhou Jinsong, chairman of Jinzai Food, said that deep-sea anchovy was 1.3 billion last year, still maintaining rapid growth, and more deep-sea products can be made;
There are 20 billion soybean products, but the concentration is very low, the industry leader is 3 to 500 million, and the scale of Jinzi dried tofu is 200 million. "Food health is the trend, and Jinzai Food's products are just in line with this healthy trend. ”
-END-
Author | Becky
Produced by | Catering O2O
A new round of the era of 10,000 stores is coming, this time, the main battlefield is in China! It also announces that China's catering has officially entered the era of 10,000 store chains!
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Based on this, catering O2O cooperated with 50+ brands and industry experts and mentors to successfully hold the China Wandian Chain Conference (Wuhan Station) and the 2nd Meal Intelligent Equipment Summit in Wuhan on March 28-29.
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Further reading:
- The franchise lasts for 40 years! Bawang Tea Ji went to the United States for IPO, Fat Donglai opened a coffee shop, wooden house barbecue and Four Seasons Coconut Grove entered Hong Kong...
- Yang Guofu 6000+ stores, pot ring financial report is expected to increase, Ali withdraws rookie listing application...
- Jiumaojiu's revenue last year was 6 billion, Mixue responded to the store's price increase of 1 yuan, Tea Baidao was listed in April, and Meituan's net profit last year was 13.9 billion...
- The per capita consumption of the Qingming holiday is 450 yuan, Tustin breaks 7,000 stores, Hefu Lao noodles refutes rumors and layoffs, and Helens earns 180 million...
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