Fast food looks to China's hinterland towns for future growth
summary：According to a new report by market researcher Mintel, China’s fast food and takeaway market is expected to reach RMB1.8tn (US$294bn by 2017. The increase, it says, will be largely bolstered by rising economic power in lower-tier cities....
This rise compounds growth in recent years; the value of the fast food market in China doubled between 2007 to 2012 to reach RMB1tn (US$163bn) with 80% growth in outlet numbers since the start of that period.However, while fast food outlets are expected to continue to see explosive growth in China, things are actually slowing down.
Novelty factor
David Zhang, China research analyst at Mintel, said: “Much of the growth to date has continued to benefit from a perceived ‘novelty factor’ enjoyed by fast food as the segment expands into smaller cities in China.
Read the full article