Out of the quandary_ Steady advances in the new era - China's chain restaurants_ Road to capital series report 2023
According to the National Bureau of Statistics, China's catering industry revenue in 2022 was approximately RMB4.4 trillion, a year-on-year (YoY) decline of over 6% from 2021. In the face of short-term sluggishness of the offline catering market, companies are actively responding to the situation by adopting such methods as cross-category innovation and fusion, development of pre-prepared food product lines, development of the franchising market, and cooperation with online platforms to acquire new customers, to find new growth opportunities. As people's lives return to normal in 2023, the catering industry was the first consumer sector to show signs of recovery. After a two-month adjustment period at the beginning of the year, catering income has grown strongly from March onwards, and market confidence has been restored. Despite the uncertainties ahead, catering chains that have gone through years of trials and implemented strategic adjustments will be able to capitalise on