"Night economy" boosts catering consumption

According to the May national economic operation data released by the National Bureau of Statistics on June 15, in May 2023, the national catering revenue was 407 billion yuan, a year-on-year increase of 35.1%; the catering income of units above the designated size was 108.4 billion yuan, a year-on-year increase of 31.4%. From January to May 2023, the national catering revenue was 1,995.8 billion yuan, a year-on-year increase of 22.6%; the catering revenue of units above the designated size was 508.6 billion yuan, a year-on-year increase of 25.4%.

Based on the analysis of data from previous years, the China Cuisine Association pointed out that in May 2023, the growth rate of national catering revenue and limited catering revenue increased by 56.2 and 52.2 percentage points compared with the same period last year. From January to May, the growth rate of national catering revenue and above-limits catering revenue increased by 31.1 and 34.5 percentage points compared with the same period last year, and catering revenue accounted for 10.6% of the total retail sales of social consumer goods.

From the data, the national catering consumption increased significantly in May. In this regard, the China Cuisine Association believes that promoting the development of the night economy is a powerful tool to stimulate domestic demand, stabilize growth, and promote consumption. It can meet the diverse consumption needs of residents. The catering market continued in May. With the warming up, the demand for catering consumption is released quickly, and the night economy is full of fireworks. Festivals such as "May 1" and "520" have also shown peaks of catering consumption.

The "Investigation Report on Urban Residents' Consumption Habits" released by the Ministry of Commerce shows that 60% of my country's consumption occurs at night, and the night economy is the "golden time" for catering consumption. In May, the temperature gradually rises, and the heat wave also further promotes the "summer night economy". Many consumers choose to go out at night, visit night markets and taste delicious food.

For example, recently, the "Beijing Consumer Season Night Beijing Event" was launched. The event linked more than 40 business districts, more than 200 brands, and 10,000 stores to create a "one joint five nights" content system. Hebei Province launched the "night economy consumption season", focusing on time-honored brands, specialty restaurants and other consumption hotspots, enriching consumption formats such as night shopping, night food, night tours, and night entertainment, comprehensively boosting consumer confidence, further prospering the night economy, and stimulating the vitality of night consumption.

According to data released by the Guangzhou Municipal Bureau of Commerce, there are more than 150,000 catering shops open at night in Guangzhou, and more than 25% of the catering shops are still open at midnight. Huangshan City and various night market operating units jointly issued 2 million yuan consumption coupons on the spot, launched a batch of "Huizihao" specialty shops (stalls), Anhui cuisine mobile restaurants, and at the same time guided the city's characteristic streets, commercial complexes, restaurants and other places to extend their business hours.

The China Cuisine Association reminds catering companies that at present, catering consumption is increasingly returning to the masses. Catering companies should change their business ideas, grasp the consumption positioning, study new consumption models, improve cost performance, and jointly meet new consumption hotspots. At the same time, they should continue to stop catering waste and ensure Food safety, promote the high-quality development of the industry with high-quality products.

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