In addition, the siphon effect of popular commercial buildings in various cities is very obvious. In the third quarter of 2024, Hangzhou Hubin Yintai in77 attracted 6 national first stores, and Shanghai Huamu Shiguangli had 4 national first stores.
Moreover, with the increase in industry concentration, brands are paying more kenya whatsapp number data 5 million more attention to the head effect. Well-known projects such as Taikoo, MixC, and Intime have become the main choices for brand first stores. Taking Taikoo projects as an example, the four major projects of Chengdu Taikoo Li, Shanghai Qiantan Taikoo Li, Beijing Sanlitun Taikoo Li, and Shanghai Xingye Taikoo Hui have introduced 6 national first stores, including the world's first store opened by RESTUCCO.
01
Baking and tea and coffee become popular categories
As the saying goes, "food is the first necessity of the people", so the catering industry has maintained a high sales volume for many years. According to the data from the National Bureau of Statistics, in the first three quarters of 2024, the catering industry's revenue reached 3.94 trillion yuan, a year-on-year increase of 6.2%, ranking among the top in terms of growth rate.
In the third quarter of 2024, the number of first stores in China ranked second in the catering industry, second only to the footwear and apparel industry, with 43 first stores in China, accounting for 30.94%. In 2023, a total of 65 first stores of catering brands were introduced in China. The number of first stores in one quarter has reached nearly 70% of the number in the whole of last year, which is enough to show the popularity of this industry.
Specifically, among the 43 newly opened national first-store restaurants, the baking category continued to be hot, with 10 national first-stores debuting, such as PAOPAO Marché, Hibake, Soft Tiger Tiger, VERIE BAKEHOUSE, VITOR CASTRO Portuguese egg tarts, etc.
In recent years, the market size of my country's baked food industry has continued to increase. In 2022, the market size of my country's baked food industry reached 287.4 billion yuan, with an average annual compound growth rate of 8.30% in the past five years. In 2023, the market size of China's baked food industry reached 310.2 billion yuan. Shangqi Consulting predicts that the market size of China's baked food market will reach 524.13 billion yuan in 2030. The once popular Momo Dessert Bureau has closed many stores. Now, starting with the subdivision of categories, it has launched the cake shop "Ruanhuhu", and opened three stores in Changsha at the same time, presumably aiming at this development opportunity.
