Household incomes for China’s foodservice consumers continued to stabilize to start the year. But consumers reduced their willingness to increase spend on foodservice in the wake of CNY festivities. This month’s China Consumer Sentiment Study highlights how government consumption coupons affect spending expectations across China’s dynamic market.
Highlights:
- Household incomes improved stronger for younger aged consumers and those in Upper Tier cities.
- With CNY festivities behind them, consumers softened their expectations to dine out more.
- Fewer consumers are expecting to increase their spending in the coming month, but foodservice still ranks higher than retail.
- 30% of consumers used government coupons for meals. Most were used at FSR restaurants.
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