Table of Contents
Introduction
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- Definition
- Methodology
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Total China full service restaurant revenues, 2008-18
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- Figure 2: Frequency of eating out at different types of restaurants, October 2013
- Companies and brands
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- Figure 3: Top 10 public listed full service restaurant chains in China, by revenue (RMB million), 2011 and 2012
- The consumer
- Usage of different types of restaurants
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- Figure 4: Occasions for eating out at restaurants, October 2013
- Important factors for selecting full service restaurants
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- Figure 5: Important factors for selecting full service restaurants, October 2013
- Attractive value-added services
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- Figure 6: Attractive value-added services, October 2013
- Factors driving consumers to try new restaurants
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- Figure 7: Factors driving consumers to try new restaurants, October 2013
- Attitudes towards full service restaurants
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- Figure 8: Attitudes towards full service restaurants, October 2013
- Key trends
- Multi-brand strategy to appeal to different consumer segments
- High-end restaurants to appeal to the majority of the public
- Ride on the trend of consumers moving towards a healthier diet
- What we think
The Market
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- Key points
- Market size and forecast
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- Figure 9: China full service restaurant market, value sales, 2008-18
- Figure 10: China full service restaurant market, value sales, 2008-18
- Market growth drivers
- Sustained economic growth
- Ongoing urbanisation progress
- Rising personal and household income
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- Figure 11: Per capita net income and actual growth rate of urban and rural residents in China, 2008-12
- Figure 12: Number of full service restaurant outlets and revenue sales in China, 2008-12
- Growing desire for family/friends gathering during leisure time
- Potential barriers
- Increasing cost of labour
- Increasing cost of real estate rentals
- Rising commodity prices
- Anti-extravagance campaign
- Market segmentation
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- Figure 13: Number of different restaurant types have been to in the past 12 months, October 2013
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- Figure 14: Frequency of eating out at different types of restaurants, October 2013
Companies and Brands
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- Key points
- Key brands
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- Figure 15: Top 10 public listed full service restaurant chains in China, by revenue (RMB million), 2010-12
- Company trend and innovations
- Multi-brand strategy to cater to the needs of different consumer segments
- Packaged food retailing becomes a new source of income
- Companies
- Fine Dining Full Service Restaurants
- Hai Di Lao Hot Pot
- Wow Prime Group
- Beijing Xiangeqing Co.
- China Quanjude (Group) Co.
- Xiao Nan Guo Holdings
- Casual dining full service restaurants
- Ajisen (China) Holdings Ltd
- Xiao Fei Yang (Little Sheep)
- Pizza Hut
- Tsui Wah Holdings Limited
The Consumer – Usage of Different Types of Restaurants
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- Key points
- Different types of restaurants apply to different usage occasions
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- Figure 16: Occasions for eating out at restaurants, October 2013
The Consumer – Important Factors for Selecting Full Service Restaurants
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- Key points
- Taste and hygiene are most important
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- Figure 17: Important factors for selecting full service restaurants, October 2013
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- Figure 18: Selected important factors in selecting full service restaurants, by income groups, October 2013
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- Figure 19: Selected important factors in selecting full service restaurants, by gender and age groups, October 2013
The Consumer – Attractive Value-Added Services
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- Key points
- Consumers look for more flexibility in customising their dishes
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- Figure 20: Attractive value-added services, October 2013
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- Figure 21: Selected attractive value-added services, by gender and age groups, October 2013
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- Figure 22: Selected attractive value-added services, by income groups, October 2013
The Consumer – Factors Driving Consumers to Try New Restaurants
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- Key points
- Special offers and promotions can act as effective energisers to restaurants to gain trial besides good word of mouth
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- Figure 23: Factors driving consumers to try new restaurants, October 2013
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- Figure 24: Selected factors driving consumers to try new restaurants, by gender and age groups, October 2013
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- Figure 25: Selected factors driving consumers to try a new restaurant, by income groups, October 2013
The Consumer – Attitudes towards Full Service Restaurants
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- Key points
- Consumers show enthusiasm towards trying different types of dishes and restaurants
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- Figure 26: Attitudes towards full service restaurants, October 2013
- There are opportunities for trade-up
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- Figure 27: Attitudes towards full service restaurants, by income groups, October 2013
Key Issue – Multi-brand Strategy to Appeal to Different Consumer Segments
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- Key points
- Segmenting consumers based on psychographics
- Tailor restaurant propositions to different consumer segments
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- Figure 28: Consumer segmentation, by important factors for selecting full service restaurants, October 2013
- What does it mean?
Key Issue – High-end Restaurants to Appeal to the Majority of the Public
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- Key points
- Spending on business meals and government’s banquets is going to decline
- Short-term goal – attracting mass consumers for trial
- Menu renovation
- Special lunch offers
- Online promotion offers
- Long-term sustainability – retaining premium brand image and building customer loyalty
- High-quality food, good dining environment and rare food materials all contribute to premium value perceptions
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- Figure 29: Consumer segments, by selected attitudes towards full service restaurants (any agree), October 2013
- Restaurant companies need to take into considerations consumers’ purchasing capabilities when designing the menu
- What does it mean?
Key Issue – Riding on the Healthy Eating Trend
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- Key points
- Intensifying competition pushes restaurant companies to keep innovating their menus
- Consumers attach great importance to food safety
- Consumers are looking for healthier food
- Menu innovation focusing on “healthiness” is the emerging trend
- Adding “hygiene” elements into traditional Chinese way of cooking and sharing food
- Menu innovation using healthy food materials
- Emphasising healthy benefits of the dishes
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- Figure 30: Example: Health benefits of each of Shang-Tang’s recommended soup, 2013
- What does it mean?
Appendix – Frequency of Eating out at Different Types of Restaurants
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- Figure 31: Most popular frequency of eating out at restaurants, October 2013
- Figure 32: Next most popular frequency of eating out at restaurants, October 2013
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- Figure 33: Most popular frequency of eating out at restaurants – Hot pot restaurants, by demographics, October 2013
- Figure 34: Next most popular frequency of eating out at restaurants – Hot pot restaurants, by demographics, October 2013
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- Figure 35: Most popular frequency of eating out at restaurants – Foreign fine dining restaurants, costing RMB100 or above per person, by demographics, October 2013
- Figure 36: Next most popular frequency of eating out at restaurants – Foreign fine dining restaurants, costing RMB100 or above per person, by demographics, October 2013
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- Figure 37: Most popular frequency of eating out at restaurants – Chinese fine dining restaurant, costing RMB100 or above per person, by demographics, October 2013
- Figure 38: Next most popular frequency of eating out at restaurants – Chinese fine dining restaurant, costing RMB100 or above per person, by demographics, October 2013
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- Figure 39: Most popular frequency of eating out at restaurants – Foreign casual dining restaurant, costing less than RMB100 per person, by demographics, October 2013
- Figure 40: Next most popular frequency of eating out at restaurants – Foreign casual dining restaurant, costing less than RMB100 per person, by demographics, October 2013
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- Figure 41: Most popular frequency of eating out at restaurants – Chinese casual dining restaurants, costing less than RMB100 per person, by demographics, October 2013
- Figure 42: Next most popular frequency of eating out at restaurants – Chinese casual dining restaurants, costing less than RMB100 per person, by demographics, October 2013
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- Figure 43: Most popular frequency of eating out at restaurants – Fast food restaurants, by demographics, October 2013
- Figure 44: Next most popular frequency of eating out at restaurants – Fast food restaurants, by demographics, October 2013
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- Figure 45: Most popular frequency of eating out at restaurants – Self-service buffet, by demographics, October 2013
- Figure 46: Next most popular frequency of eating out at restaurants – Self-service buffet, by demographics, October 2013
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- Figure 47: Most popular frequency of eating out at restaurants – Café, by demographics, October 2013
- Figure 48: Next most popular frequency of eating out at restaurants – Café, by demographics, October 2013
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Appendix – Occasions for Eating Out at Restaurants
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- Figure 49: Occasions for eating out at restaurants, October 2013
- Figure 50: Occasions for eating out at restaurants, October 2013
- Figure 51: Most popular occasions for eating out at restaurants – Hot pot restaurant, by demographics, October 2013
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- Figure 52: Next most popular occasions for eating out at restaurants – Hot pot restaurant, by demographics, October 2013
- Figure 53: Most popular occasions for eating out at restaurants – Foreign fine dining restaurant, by demographics, October 2013
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- Figure 54: Next most popular occasions for eating out at restaurants – Foreign fine dining restaurant, by demographics, October 2013
- Figure 55: Most popular occasions for eating out at restaurants – Chinese fine dining restaurant, by demographics, October 2013
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- Figure 56: Next most popular occasions for eating out at restaurants – Chinese fine dining restaurant, by demographics, October 2013
- Figure 57: Most popular occasions for eating out at restaurants – Foreign casual dining restaurant, by demographics, October 2013
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- Figure 58: Next most popular occasions for eating out at restaurants – Foreign casual dining restaurant, by demographics, October 2013
- Figure 59: Most popular occasions for eating out at restaurants – Chinese casual dining restaurants, by demographics, October 2013
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- Figure 60: Next most popular occasions for eating out at restaurants – Chinese casual dining restaurants, by demographics, October 2013
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Appendix – Important Factors for Selecting Full Service Restaurants
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- Figure 61: Important factors for selecting full service restaurants, October 2013
- Figure 62: Most popular factors for selecting full service restaurants –Top three factors, by demographics, October 2013
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- Figure 63: Next most popular factors for selecting full service restaurants – Top three factors, by demographics, October 2013
- Figure 64: Most popular factors for selecting full service restaurants – Rank 1, by demographics, October 2013
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- Figure 65: Next most popular factors for selecting full service restaurants – Rank 1, by demographics, October 2013
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Appendix – Attractive Value-Added Services
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- Figure 66: Attractive value-added services, October 2013
- Figure 67: Most popular attractive value-added services, by demographics, October 2013
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- Figure 68: Next most popular attractive value-added services, by demographics, October 2013
- Figure 69: Other attractive value-added services, by demographics, October 2013
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Appendix – Factors Driving Consumers to Try new Restaurants
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- Figure 70: Factors driving consumers to try new restaurants, October 2013
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- Figure 71: Most popular factors driving consumers to try new restaurants – Rank 1, by demographics, October 2013
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- Figure 72: Next most popular factors driving consumers to try new restaurants – Rank 1, by demographics, October 2013
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Appendix – Attitudes towards Full Service Restaurants
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- Figure 73: Attitudes towards full service restaurants, October 2013
- Figure 74: Agreement with the statement ‘It is fun to try a new type of dish’, by demographics, October 2013
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- Figure 75: Agreement with the statement ‘It’s fun to try a new restaurant rather than sticking to the same one’, by demographics, October 2013
- Figure 76: Agreement with the statement ‘I like people to know about my dining experiences’, by demographics, October 2013
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- Figure 77: Agreement with the statement ‘It is worth paying more for a better dining experience’, by demographics, October 2013
- Figure 78: Agreement with the statement ‘It is worth paying more to dine at restaurants offering food of better quality’, by demographics, October 2013
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- Figure 79: Agreement with the statement ‘It is worth paying more to dine at restaurants offering rare food on the menu’, by demographics, October 2013
- Figure 80: Agreement with the statement ‘Fine dining restaurants offer more tasty dishes than the casual ones’, by demographics, October 2013
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- Figure 81: Agreement with the statement ‘Eating at fine dining restaurants is a reflection of my social status’, by demographics, October 2013
- Figure 82: Agreement with the statement ‘I would be interested in trying international cuisines that are difficult to cook at home’, by demographics, October 2013
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- Figure 83: Agreement with the statement ‘I would rather stick to Chinese restaurants because I’m used to the taste’, by demographics, October 2013
- Figure 84: Agreement with the statement ‘Dishes made by professional cooks are more nutritious than those made at home’, by demographics, October 2013
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- Figure 85: Agreement with the statement ‘I worry about the impact on my health when eating out at restaurants’, by demographics, October 2013
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Appendix – Target Group (Consumer Segments) Analysis
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- Figure 86: Target groups, by demographics, October 2013
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- Figure 87: Important factors for selecting full service restaurants, by target groups, October 2013
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- Figure 88: Attractive value-added services, by target groups, October 2013
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- Figure 89: Factors driving consumers to try new restaurants, by target groups, October 2013
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- Figure 90: Attitudes towards full service restaurants, by target groups, October 2013
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