Source: Securities Times Author: Hu Huaxiong
During the May Day holiday this year, although many regions were affected by bad weather and other factors, domestic food and beverage consumption still experienced a small peak.
The reporter visited the site and found that during the May 1st holiday, the restaurant industry's attendance rate increased, and it was quite common for restaurants in shopping centers in some cities to be full or to wait in line at some restaurants in the surrounding scenic spots of major cities.
Also, according to the information the reporter learned from some brand catering companies, there was also a marked increase in passenger traffic during the May 1st period compared to the same period last year.
Food and beverage consumption welcomed a small peak during the May 1st holiday, and brand catering traffic welcomed growth
During the May 1st holiday, although many regions were affected by bad weather and other factors, it did not stop many consumers' enthusiasm. Domestic food and beverage consumption still ushered in a small peak. The phenomenon of restaurants being full or waiting in line occurred frequently in some regions.
There was a marked increase in traffic at restaurants in shopping malls in some cities. For example, during the peak dining period on the evening of May 1, in a shopping center restaurant area in Shenzhen, the reporter found that due to the large number of customers, there was a phenomenon of customers queuing up at the entrance of many restaurants, and some restaurants had long queuing times.
Some well-known brand restaurants also had strong traffic during the May 1st period. The reporter learned from Haidilao, a leader in the catering industry, that from May 1 to May 4, Haidilao's mainland stores received a total of about 7.5 million visitors, an increase of about 15% over the first four days of May 1st last year, and the growth of stores in the sinking market was even more obvious. Among them, on May 1, the first day of the holiday, more than 1,300 stores across the country received a total of about 2 million customers, an increase of more than 10% over the same period last year.
According to Haidilao, Haidilao launched four new spring and summer products nationwide in April, which were also popular during the May 1st period. According to the data, the mushroom combination “Cherry Dumpling Mushroom Family Portrait”, which includes black porcini mushrooms, has sold more than 1 million copies. According to information, over 1 ton of Yunnan porcini mushrooms are delivered to the tables of thousands of Haidilao Hot Pot stores across the country every day.
In addition to restaurants in urban shopping malls, during the May 1st holiday, many people went on trips, and the restaurant business in scenic spots surrounding major cities was also clearly booming. For example, the Luofu Mountain Scenic Area in Guangdong has majestic mountains and beautiful natural scenery, which attracted many visitors to visit during the May 1st holiday, and also brought in many local restaurants that do tourist business. The reporter discovered that although there was a short period of light rain in the Luofu Mountain Scenic Area on May 3, it did not stop the enthusiasm of visitors to visit. Many restaurants also waited during peak dining periods. Most of the cars parked in front of the restaurant had foreign license plates.
“Camping+Food” spending is popular
In recent years, camping vacations have been favored by many people. People who don't want to work on the outskirts of the city have also found a more comfortable way to “lie flat” on the outskirts of the city. Some campers choose to make their own food at home and take it out, while others simply choose to buy food on takeout platforms. It is worth noting that the demand for food and beverage consumption brought about by camping vacations has also attracted the attention of some catering companies.
Furthermore, while satisfying taste buds, more and more tourists are paying more attention to the consumer experience, incorporating “experiential and immersive” consumption into vacation and leisure. For urban white-collar workers who don't want to work on a boat, micro-tours such as “camping+food” in urban suburbs that can be returned on the same day have also been popular with consumers in recent years. The person in charge of Haidilao's Pudong Hangtou Camping Base in Shanghai said, “During the May 1st holiday period, the Pudong Hangtou Camping Base can receive an average of more than 500 people every day. Almost all 60 tents are full. We have also added more than a dozen canopies before we can accommodate all the guests.”
Overall, since this year, the overall revenue of the catering industry has continued to show a growing trend. According to data recently disclosed by the National Bureau of Statistics, food and beverage revenue in March this year was 396.4 billion yuan, an increase of 6.9% over the previous year. From January to March of this year, food and beverage revenue was 1344.5 billion yuan, an increase of 10.8% over the previous year.
According to the Guojin Securities Research Report, looking ahead to 2024, the customer unit price and same-store base for the first half of the year are relatively high. According to the first-quarter tracking situation, the expected operating data is still under pressure. The growth rate of the same store is expected to improve when the base falls in the second half of the year; at the same time, catering operations have returned to normalization, the peak period for direct-run restaurants has passed, capital expenditure has decreased, and shareholder returns are expected to continue to rise in the future.
edit/lambor