Vibrant Greater Bay Area, Booming Food and Beverage Industry

The strength of economic recovery is accelerating month by month, and catering has become a solid means to boost economic growth. In the first quarter of 2023, China's gross domestic product reached US$ 3.96 trillion; the national catering revenue from January to April 2023 was US$ 22.08 billion , an increase of 19.8% year-on-year.

New Opportunities - Guangdong-Hong Kong-Macao Greater Bay Area
· Strong vitality in night-time consumption is a major feature of the catering market. The share of online orders for nighttime dining in the Greater Bay Area are above 40% in 2022, higher than the broader national market.
· Young groups aged 25-30 are the main force of Shenzhen's catering consumption, accounting for 31.4%, higher than that of the nation's catering market.
· "rationality", "affordability", "practicality", "stocking up" and "value for money" are the most popular consumer habits. Cost-effective" has become the five keywords that consumers are most concerned about.
· Consumer' channels are becoming more complex and diversified, offline + online, domain + private domain, short video + live have become a new path of consumption. 5G and digitization are developing rapidly in Shenzhen.