In China fast food industry in China is experiencing a boom, although there is a fierce competition, in spite, it managed to generate huge profits and is welcomed by the masses since the beginning. For gaining valuable insight of the industry, a survey was conducted by the technology-oriented marketing research agency through the channel of Online Research Panel.
The survey showed that in China, females are more frequent customers of fast food restaurants as compared to males. Two age groups which were part of the survey were youngsters (aged 16 to 22) and matures (22 and above). Results further proved out of a number of foreign and local chains, two foreign brands (KFC and Pizza Hut) are most consumed fast food chains in China. This was common finding between males and females and all age groups. McDonald’s which is another very famous foreign fast-food chain was one of the most highly consumed brands and here again, females were frequent consumers as compared to their male counterparts with 42% and 33% respectively. Nando’s was found to be on the fourth most preferred brand and Chicken Cottage was found to be on the least preferred on the preference list of both the genders. In case of all five brands, the gender-related findings were proved to be similar, with female dominance.
Further, the survey showed that average frequency of visiting Fast Food chains is almost once a week for two age groups, which were part of the survey. However, youngsters were found to be much more likely to visit, whereas mature adults were also found to have higher appetite towards the consumption of fast food.
Recently, a remarkable transformation has occurred in food consumption of the Chinai masses. Fast food consumption has increased radically. This dramatic shift towards fast food consumption is primarily because people prefer convenience and good taste. Because of the emerging market trends in this particular industry, the casual taste among the masses is now congregating. The changing consumer preferences, shifting lifestyles and presence of multinational chains have further facilitated and triggered fast food consumption in China. The aforementioned survey results also indicate the dominance of multinationals, this is because these chains have resorted to market led approaches and transformed their menus in order to satisfy consumer needs.
Recent statistics also demonstrate that growth in fast food in augmenting 20% annually, which implies that this is one the fastest growing businesses in China. Also, this signifies a hefty untapped market which can be exploited by local as well as international brands. Although China is considered to be a dawdler in technology and various other sectors, but one cannot deny the exceptional growth and the potential that fast food industry inherits in China. Not only its development can contribute towards macroeconomic stability but also, latent needs of the consumers can be met.