Household incomes increased across China’s foodservice industry to start the year. This fueled expectations to spend more on dining out and other areas like travel entertainment. This month’s China Consumer Sentiment Study shows the latest consumer attitudes after celebrating the CNY festival.
Highlights:
- Many consumers reported their household incomes increased in January. But younger consumers reported reduced incomes.
- Expectations to dine out also increased in January, although there was an increase in consumers who expect to dine out less now that the CNY festival is over.
- Foodservice remained one of the top categories consumers expect to increase their spending over the next month.
- Recap of 2024 CNY performance, including the top channel and category trends.
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