How Do I Keep Up with Restaurant Industry Trends?

The main content of the catering industry is that organizations (such as restaurants, hotels, food processing plants) or individuals engaged in this industry process food to meet the dietary needs of diners, and thus obtain corresponding service income. Due to the different eating habits and tastes of different people in different regions and cultures, catering around the world shows a variety of characteristics.

Food Industry

As different regions and cultures have different dietary habits and tastes, catering companies around the world show diverse characteristics, which can be divided into the following categories:

1.Multifunctional catering

2, flavor dining

3. Zero (casual meal) dining

4.Chinese style catering

5.Western-style restaurant

6.Cafeteria

7, fast food restaurant

8.Café

Development Trend of China's Catering Industry

In an era of demand economy with oversupply, the key to a company's success is whether it can lock in and capture demand even before demand is formed. Those successful companies often devote their life and resources to the current needs, potential needs, and new needs of the resource search industry!

With the intensified competition in the catering industry, mergers and acquisitions and capital operations between large catering companies are becoming more frequent, and domestic outstanding catering companies are paying more and more attention to the research of the industry market, especially the in-depth study of the enterprise development environment and customer demand trends . Because of this, a large number of outstanding domestic catering brands have risen rapidly and gradually become the leader in the catering industry!

After years of reform and development, China's catering market has entered a new stage, and some new changes have taken place in the market competition. Grasping this changing trend and studying and formulating the correct countermeasures are very important for catering companies. The catering market is relatively the most fragmented market, and no large catering group in China can occupy a 1% market share. It can be said that the catering industry is a completely competitive industry, and the concentration of the industry is quite low. The future development trend is that the concentration of the industry will increase sharply, which needs to be integrated by large-scale enterprises. Judging from the competition and development pattern of catering enterprises, the competition of catering enterprises in China will be more intense in the future, with more companies going public.

The development of China's catering industry shows the following four characteristics:

First, from pure price competition, product quality competition, to product and enterprise brand competition, cultural taste competition. In the early stage of the reform, catering companies mainly engaged in price wars, variety, service, and decoration wars; the situation changed, and consumers meals must meet both physiological and psychological needs. Therefore, more and more businesses The researchers turned their attention to building their own brand and improving the cultural taste of the company. This is a higher level of competition.

2. From single store competition and single format competition, to multi-format, chain, group and large-scale competition.

3. From local development to foreign development, from small cities to large and medium cities, from the eastern coast to the central and western regions; and some from large cities to small and medium cities, and from the west to the east. A number of large catering companies and chain companies that have emerged over the past few years have a common feature in that they all seek to expand abroad, base and occupy foreign markets, and even enter central cities and international metropolises. Nowadays, the concept of region has been weakened, and the market radius of competition for catering companies has been greatly extended.

Fourth, competition between Chinese and foreign catering companies has intensified. The catering industry is a relatively early reform and opening-up industry. Foreign capital, especially some international brand-name companies, has continuously poured into the Chinese catering market. China's catering industry has always faced the strong challenge of foreign catering brands. Compared with foreign catering, domestic catering companies , Software, especially in management and service. After joining the WTO, the entry of more foreign catering companies has intensified competition in China's catering industry. The entry of foreign catering companies into China will have a profound impact on China's catering business philosophy, service quality standards, cultural atmosphere, catering structure, and quality requirements of employees. However, Chinese local brands have a slower pace of going out and are not very competitive.

In foreign countries, Chinese food companies mostly show small scale, poor environment, and inadequate service, and Chinese food features are not obvious. Domestically, Chinese food companies are facing squeeze from foreign-brand catering companies. The top 10 nationwide accounts for only 4.78% of the total turnover of the catering industry, and sales revenue generally does not exceed several hundred million yuan. Form a huge contrast with foreign catering giants represented by KFC and Pizza Hut.

As a traditional service industry in China's tertiary industry, the catering industry has 4 million catering outlets across the country. At the same time, large-scale enterprises have begun to emerge, with 11 companies with a turnover of more than 1 billion yuan and 34 companies with a turnover of more than 500 million yuan. Among them, the top ten have a turnover of 33.676 billion yuan, an increase of 18.4% year-on-year. , Accounting for nearly 50% of the total turnover of the top 100, reaching 49.34%. In 2011, China's catering industry revenue reached 2,063.5 billion yuan, a year-on-year increase of 16.9%. The industry scale exceeded the 2 trillion mark for the first time. It took only five years for the turnover to exceed 1 trillion in 2006, with an average annual growth of more than 200 billion yuan. Although the scale of China's catering industry continues to expand, from the perspective of growth rate, it has shown a downward trend. This downward trend can be observed from the comparison of the increase in the retail sales of the hospitality and catering industry with the increase in the total retail sales of consumer goods and the monthly increase in catering revenue in 2011.

China's reform and opening-up has gone through more than 30 years of ups and downs. In the 30 years of reform and opening-up, China's catering industry has experienced three leap-forward developments with the wave of reform. In the past 30 years, Chinese food and beverage has experienced the impact of grabbing the Chinese market from foreign fast foods, SARS, and food safety. The Chinese food and beverage industry is in the midst of the impact and has achieved continuous sales growth. At present, the average life cycle of China's catering enterprises is 2.5-3 years, of which the investment recovery period is 8-18 months and the growth period is 18-28 months. The establishment and improvement period of the chain franchise system requires 24 months. There must be problems such as weak competitiveness, inadequate management systems, and poor network stability. Generally, the number of stores in the exploration stage is 1-10, and the growth stage is 11-40. During this period, the greatest risks are faced. The initial mature stage is 41-100, and the fully mature stage is more than 100. The more mature the restaurant franchise, the less risk investors will take.

Analysis of consumer behavior in the catering industry

With the increase of Chinese residents' income level, the accelerated pace of life, and the renewal of consumption concepts, the catering industry has developed rapidly. Chinese catering consumers show three major development trends:

First, business consumption has increased.

Economic development has increased business activities, and business entertainment activities have promoted the rapid development of high-end catering.

The second is the increase in alternative consumption.

With the development of the economy and the increase of residents' income, more and more people choose to go to hotels to spend their meals instead of cooking. This is mainly reflected in the popularity of New Year's Eve dinner in recent years.

The third is increased forced consumption.

More and more white-collar workers and migrant workers who work in cities are short of time and have no conditions to start cooking together. They have no choice but to be forced to eat in restaurants, which has promoted the development of the fast food industry.