China: Ting Hsin provide more fresh food to expand FamilyMart chain
To meet the goal, Wei Ying-heng, head of the restaurant and logistics business division of Ting Qiao Holdings, has led a group of employees tasked with tasting gourmet food at various restaurants around China, the report said.
The fierce competition in China's convenience store fresh food market has left Wei with no choice but to devote more time and effort to introducing more fresh food products, the report said. 7-Eleven, which has established the largest number of convenience stores around the world, is also finding it difficult in the China market. The chain enjoys a gross profit rate of 47% in Japan, 40% in the United States, and 30% in Taiwan, while earning only 25% in gross profits in China.
Due to low product prices, poor customer traffic flows, and high store rents for convenience stores in China, the earnings from these Chinese convenience stores are lower than those in Japan, a local expert said.
Amid increasingly intense competition, Taiwanese chains have also sought to develop their own fresh food products to make them unique, the paper said.
Source: wantchinatimes.com
