The Zhitong Finance App learned that recently, the current state of catering in first-tier cities such as Beijing and Shanghai has caused a lot of discussion. According to a consumer observation report recently released by Huachuang Securities, the performance of food and beverage consumption in first-tier cities is poor compared to the national level. The national food and beverage revenue growth rate in the first half of the year was 7.9%. Beijing is -3.5%, Shanghai is -3.6%, Guangzhou is 3.0%, and Shenzhen is 1.3%. The national growth rate is higher than that of first-tier cities.

In terms of categories, restaurants in first-tier cities may be dragged down by meal consumption. According to the Huachuang Securities report, taking Beijing as an example, in the first half of the year, the food service growth rate was -10.0%. Meal service experienced large losses, and fast food, beverage and food delivery were still profitable. This means that there is a lot of pressure to operate a meal service in Beijing.

In addition to regional differences, corporate profits are also fragmented. The “Catering Industry 2024 Semi-Annual Performance Overview Report” issued by Zheshang Securities also mentioned that from January to June 2024, the number of registered catering companies was always higher than the number of cancellations, store supply continued to rise, and continued heated industry competition further contributed to the weak recovery of the overall catering industry in the first half of the year, but high-quality brands were still able to stand out.

According to the above report, companies with strong brand strength and management capabilities, such as Haidilao and Yum China, are expected to stabilize customer unit prices. The report analysis suggests that this is mainly due to the companies' own brand strength and management capabilities.

Furthermore, from an overall perspective of the industry, increased competition in the industry has also led to a continued drop in the unit price of catering customers. According to another monthly food report published by Zheshang Securities, many brands on various food and beverage tracks, such as tea and coffee, Western-style fast food, and hot pot stew, are still racing, but they all show a downward trend in customer unit prices. Some brands on some tracks have shown a double-digit decline. It is expected that the pressure on customer unit prices will continue, mainly due to increased competition in the industry.

According to media reports, since 2023, the number of new stores opened and closed in the restaurant industry has remained high, industry reshuffle has accelerated, and market vitality is still there. According to the monthly dining report, some hot pot brands are still actively expanding their stores on the Western-style fast food and tea and coffee circuit. According to Tianyan survey data, in the first half of this year, the number of newly registered domestic catering companies reached 1.347 million, and the number of cancellations and cancellations reached 1.056 million, which is close to the total for the full year of 2023.