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Friday, May 19, 2017

Innovation in China’s Catering Industry

May 19, 2017. Shanghai – Red hot web celebrity Wang Zhigang, the Chairman of the popular Chinese confectionary Vimiu who has also made a name for himself in the “light catering” industry, today shared mega trends from China’s catering sector with more than a 100 industry professionals. He was headlining the E-Platform seventh entrepreneurial salon, each of which brings together players of a particular industry to share the latest knowledge, with an emphasis on what it takes to run a business. Wang is also a participant of the fifth edition of the CEIBS Entrepreneurial Leadership Camp.

Takeaways from his presentation:

  • Millennials are becoming the largest consumer group within China’s catering sector (up to 74% in 2016), and they will continue to be;
  • The constantly evolving demand is reshaping the industry, and consumers – especially the younger ones in China’s first- and second-tiers cities – are more and more attached to values such as smart and healthy cooking; delicious food is no longer enough to win over and retain consumers;
  • We will see more crossover marketing efforts in the catering sector. Traditional restaurants are increasingly working with players from other industries to boost sales and brand awareness. A recent example is the Danish restaurant Wagas’ campaign with bike sharing company Mobike. Wagas decorated one of its Shanghai restaurants in orange and black – the two major colours of Mobike’s visual identity – and provided special limited Mobike healthy menus for customers. The Mobike-themed restaurant’s terrace was also renovated into a preferred parking spot, providing easy access for Mobike users. The collaboration made sense as both companies target the same audience who value a healthy and ecological lifestyle. The campaign also provided consumers with content worthy of a WeChat post, enhancing consumers’ ‘social currency’. “These days it is just so rare to see people eat in fancy restaurants without taking pictures with their smartphones before picking up chopsticks,” said Mr. Wang.

About E-Platform:

CEIBS launched the Entrepreneurship Platform (abbreviated as E-Platform), a high-quality integrated entrepreneurial innovation ecosystem comprising entrepreneurial education, incubation and investment, on October 24, 2015.

We Connect Alumni Resources

Over 100,000 entrepreneurs and executives have been trained at CEIBS since 1984. The E-Platform connects alumni resources to develop an active entrepreneurial community from which great innovative companies can rise.

We Deliver Entrepreneurial Education

Entrepreneurs never stop challenging themselves. CEIBS, as the pace-setter for managerial education in Asia, is committed to delivering high-quality education and research in the area of entrepreneurship and innovation. It enables us to help start-ups expand their vision and connect entrepreneurs with investors. Since the China Entrepreneurial Leadership Camp (CELC) was launched in 2012, CELC has gathered numerous founders with dreams, passion and potential, and systematically provides entrepreneurs with theoretical and practical study.

We Build a Global Platform

Globalization is embedded in CEIBS’s DNA, with 70% of the school’s faculty having studied and worked extensively abroad, as well as global-based case study. Our programme is aimed at connecting global resources. The core curriculum will equip entrepreneurs with global vision, cutting-edge technology  and managerial experience from the best practices.