Kelvin C.’s Post

Shanghai to Boost Consumption with 500 Million Yuan in E-Coupons The city of Shanghai has announced a major initiative: the distribution of 500 million yuan (approximately USD $71 million) in consumption vouchers. The e-coupons will be available to both residents and visitors, covering a wide range of purchases, including dining, hotels, films, and sporting events. These vouchers are designed to capitalize on the upcoming National Day "golden week" break to drive spending and attract tourists. The e-coupons will be distributed in two stages: - September-October: Focused on vouchers for dining and movies, encouraging spending during the peak holiday period. - November-December: Centered on accommodation and sports vouchers, boosting off-season demand. As Shanghai leads, other major cities and provinces may soon follow with similar programs. The consumption vouchers will likely result in a surge in local spending, particularly in retail, dining, and entertainment. #ShanghaiEconomy #DigitalVouchers #RetailRecovery #EcommerceChina #ConsumerGrowth

More closures including very notable names in fabulous venues in Singapore. So what gives? The endless stream of upscale concepts that have opened over the 2021 to 2022 during the boom of destination dining in our little red dot, Singapore. Then travel opened up big time, so demand has dropped as everyone exits... now the boom is in Korea and Japan where endless waves of tourists descend.. A hotel boom is happening there. So with more brands than ever to spread the demand which is already dropping month on month from 2023, the end result is that outlets become financially unfeasible to continue. That an ever increasing wages, higher rentals, higher utilities, it becomes a wave to big to surf over for some. Adaptability and scale becomes even more crucial to drive revenues and synergies cost structures. The single brand owner has the biggest challenge with little ability to reduce shared costs and makes it even harder. Even others backed by famous hotels call it a day. So where will the industry stabilise at... 2024 is a complicated year, fraught with the spectre of rising rents, wages and fewer customers.

# 453 MEMBERS CLUB, Hong Kong Immerse yourself. In this column, I’ve often explored the concept of members' clubs, and it’s a recurring topic of discussion within b-f-t-m. We frequently reflect on their purpose and future, as we believe strongly in the potential of this type of service. Recently, a new space in Hong Kong has caught my attention for its ambition to redefine the traditional club and dining experience. Located in the iconic Pedder Building, Club Bâtard transforms this historic setting into a dynamic ecosystem: an exclusive wine and dining club in the heart of Central, designed to celebrate the finer things in life. Accessible only to members, the club combines exceptional dining, outstanding wines, and impeccable service. Its culinary offering spans three distinct restaurants—Bâtard, Hop Sze, and Le Clos—each showcasing unique cuisines and standing as a true gastronomic gem. For whisky enthusiasts, the in-house whisky bar, OBE, offers a curated selection of fine malts served in a setting where every pour comes with its own story. What stands out most is the creative approach to service design, which is both intentional and instrumental in shaping the overall experience. Club Bâtard represents not just a venue, but a reimagined lifestyle space that blends exclusivity with community, setting a benchmark for the future of members' clubs. 🙌 What’s your take? "A curated view of where innovation is happening in marketing today, why it matters, and how it is transforming modern business". 👉 More content on our website b-f-t-m . com / DRUMROLL Subscribe to the weekly newsletter. 🎯 If you want to learn more about our transformative approach to generating growth (yes, what we call innovation marketing!), feel free to write me privately. Club Bâtard, Timothée Lesné More about this topics follow #MaurizioRibotti #innovationmarketing #cultureofmodernbusiness #luxury #premium #lifestyle #DRUMROLL #marketing #communication --- All rights and credits are reserved to the respective owner(s). Contact us to add you as a reference or content removal.

# 453 MEMBERS CLUB, Hong Kong Immerse yourself. In this column, I’ve often explored the concept of members' clubs, and it’s a recurring topic of discussion within b-f-t-m. We frequently reflect on their purpose and future, as we believe strongly in the potential of this type of service. Recently, a new space in Hong Kong has caught my attention for its ambition to redefine the traditional club and dining experience. Located in the iconic Pedder Building, Club Bâtard transforms this historic setting into a dynamic ecosystem: an exclusive wine and dining club in the heart of Central, designed to celebrate the finer things in life. Accessible only to members, the club combines exceptional dining, outstanding wines, and impeccable service. Its culinary offering spans three distinct restaurants—Bâtard, Hop Sze, and Le Clos—each showcasing unique cuisines and standing as a true gastronomic gem. For whisky enthusiasts, the in-house whisky bar, OBE, offers a curated selection of fine malts served in a setting where every pour comes with its own story. What stands out most is the creative approach to service design, which is both intentional and instrumental in shaping the overall experience. Club Bâtard represents not just a venue, but a reimagined lifestyle space that blends exclusivity with community, setting a benchmark for the future of members' clubs. 🙌 What’s your take? "A curated view of where innovation is happening in marketing today, why it matters, and how it is transforming modern business". 👉 More content on our website b-f-t-m . com / DRUMROLL Subscribe to the weekly newsletter. 🎯 If you want to learn more about our transformative approach to generating growth (yes, what we call innovation marketing!), feel free to write us privately. Club Bâtard, Timothée Lesné More about this topics follow #MaurizioRibotti #innovationmarketing #cultureofmodernbusiness #luxury #premium #lifestyle #DRUMROLL #marketing #communication --- All rights and credits are reserved to the respective owner(s). Contact us to add you as a reference or content removal.

WHY MANY RESTAURANTS IN HONG KONG SHOULD (RE)THINK THEIR WINE OFFER   In a city where rents could compete for a gold medal, wine programs can significantly increase the average spending per customer, helping to offset this financial burden. With over 17,000 restaurants in Hong Kong (source: Food and Environmental Hygiene Department), a well-curated beverage list can differentiate your establishment from competitors and strengthen your brand image. The F&B sector is currently facing headwinds in Hong Kong. The end of restrictive pandemic measures and the return of tourists brought hope to many professionals, who believed a return to pre-pandemic conditions was imminent. Unfortunately, as of today, there are no signs of full recovery, and it seems like every week we hear about closures, including some well-known venues. What explains this situation? First, many high-income consumers have left the city. The pandemic prompted some foreign companies to relocate or reduce their expatriate workforce. At the same time, some local high earners have chosen to start new lives overseas, significantly impacting the Horeca sector, particularly the wine business. Second, while mainland Chinese tourists are returning, they tend to stay for shorter periods and spend less. Notable exceptions include a few buzzing successes driven by trends on Xiao Hong Shu. Generally  they offer unique experiences based on their product offerings or Instagramable (I should write Xiaohongshuable) locations. Third, Hongkongers are increasingly cautious about spending, particularly on dining. This may stem from the pandemic era, during which many locals became accustomed to eating or even cooking at home. Lastly, there is a growing trend of residents ‘heading north’ to Shenzhen for shopping and dining, drawn by cheaper prices, better service, new experiences, and greater diversity. These trends offer valuable insights for the hospitality industry in Hong Kong, especially concerning wine offerings. Customers seem to prioritize price, service, uniqueness, diversity, and new experiences. However, do existing wine selections meet these expectations? My answer is often no. I will delve deeper into my perspective in an upcoming post. What are your thoughts? #FoodandBeverageHongKong #RethinkYourWineOffer #RethinkYourWineList #WineLover #RestaurantHongKong #HorecaHongKong 

https://lnkd.in/dU9MpKzk My passion for food markets and foodhalls goes far beyond just enjoying a meal. These vibrant spaces are so much more than just restaurants—they're cultural melting pots that offer a unique experience every time you step inside. I gives you the puls of the city. Whether it’s a bustling market in Thailand or a trendy food hall in Europe, the differences are striking, yet they share a common thread: a deep love for food and community. Food markets can vary widely in character, size, and offerings. Some are steeped in tradition, offering local specialties passed down through generations, while others are innovative, fusing global cuisines and modern dining concepts. What fascinates me most is how these spaces, despite their diversity, create a sense of connection—between people, cultures, and the food we all love. Moreover, food halls are powerful tools in the world of real estate development. They not only provide a unique dining experience but also drive commercial traffic and add value to the surrounding area. When integrated into property development projects, they can serve as vibrant hubs that attract visitors, foster community, and contribute to the overall success of the development. In essence, food markets and halls are where passion for food meets the pulse of the city—a fusion that creates memorable experiences and sustainable growth. This was some of the topics I discussed in BBC's The Food Chain together with collagues from Singapore, Manchester and Copenhagen. #Foodhalls #MathallenOslo #NOFO-nordic-forum-food-markets #Aspelinrammeiendom

After the pandemic, F&B businesses in Singapore combined innovation with tradition, showcasing a dynamic fusion. The increasing popularity of plant-based dining reflects a shift towards healthier and more sustainable options, while a renewed focus on local cuisines highlights authentic tastes and heritage. Researching the latest F&B trends has always been the main DNA for Ramroy to keep up with the latest innovation and technology. The industry's adaptability is evident through the integration of technology, such as robotic servers and online ordering platforms. These trends represent an exciting evolution that caters to consumer preferences, preserves Singapore's culinary heritage, and infuses innovation into the vibrant F&B landscape. These trends paint a promising picture of the future, where the F&B scene continues to thrive and captivate audiences with its blend of innovation and tradition. As Singapore embraces a new era of dining experiences, one thing is clear: the journey ahead promises to be as delicious as it is exciting. #ramroy #lifeatramroy #FoodAndBeverageTrends #InnovationAtWork #InnovationAndTechnology #SingaporeCulinary

Hong Kong Consumers Are Changing: Can Bars Keep Up? Insights into the Evolving Beverage Market. Nimmi Malhotra, Gavin Yeung, Antonio Lai, Laura Prabowo,Ezra Star,Charlene Dawes,Lorenzo Antinori #HongKongBars #ConsumerTrends #BeverageMarket #BarIndustry #MarketEvolution #CustomerInsights #DrinkTrends #HospitalityIndustry #BusinessStrategy #IndustryNews

Fusing Innovation and Warmth: Luckin Coffee's in Malaysia Navigating the world of coffee shops can be quite a challenge! At first glance, they all seem to offer the same thing: coffee. Whether it's a dark roast, a light brew, or a specialty blend, to most consumers, it’s simply coffee. The same goes for restaurants serving chicken. No matter how unique or exquisitely prepared it might be, diners often see it just as chicken. In both cases, the distinct nuances can easily get lost in the shuffle, making it tough to appreciate what truly sets each offering apart! In Malaysia, where warmth, hospitality, and cultural engagement are cherished, customer interaction with brands plays a crucial role in enhancing a company's appeal. Malaysians value personal service and connections with staff/crews. For them, the overall experience often holds as much weight as the product itself. Luckin Coffee’s tech-focused model, while efficient, may not fully align with these cultural expectations. Many Malaysians seek a more individualized experience—whether it’s a friendly conversation, thoughtful recommendations from baristas, or a warm greeting as they enter. This is especially pertinent for those who view coffee shops as social spaces rather than takeout locations. Brands like Starbucks and Zus have succeeded by blending technology with a strong focus on human interaction. For instance, to stand out from the competition, Starbucks Coffee Malaysia has even introduced a hospitality team at their selected store to be on the floor to enhance the customer experience. Their ability to offer personalized orders and welcoming service resonates deeply with Malaysian customers. To make a significant impact in Malaysia, Luckin Coffee will need to integrate its technological strengths with genuine human engagement. Let's wait and see - Q1 2025! #LuckinCoffee #Malaysia #CoffeeCulture #CustomerExperience #Innovation #Warmth #CulturalEngagement #BaristaConnection #TechMeetsHospitality #CoffeeShopVibes #CommunityFirst #Starbucks #Zus #PersonalizedService image source: https://lnkd.in/gz__QCnw

Singapore’s fine-dining scene in dire straits; more closures expected before year-end Another round of closure in Singapore (the heat is anyway global) for fine dining. An excellent summary of the #Singapore #Businesstimes by JaimeEe. The F&B industry in Singapore and globally is facing unprecedented challenges For over a year we have highlighted the market conditions and continuous inflation and less spending are now fully effective. From our market research, in Singapore F&B revenue dropped between 10 to 30% and fine dining is the most affected segment. Rising costs, high rents, and a strong Singapore dollar are putting immense pressure on dining establishments. Add to this the changing tourism landscape, and we're seeing a worrying trend of restaurant closures. The Key factors impacting F&B businesses: - Inflated operational costs - Skyrocketing rental prices - Strong SGD affecting tourist spending - Shift in tourism demographics and preferences - Oversupply in dining options At F+B Consulting we understand these challenges. That's why we've developed our Business Light Package, designed to help F&B establishments navigate these turbulent times. Our package includes: -Comprehensive business assessment - Tailored transformation strategies - Cost optimisation techniques - Market repositioning advice Don't let your F&B business become another statistic. Let's work together to adapt, innovate, and thrive in this challenging environment. 🔗 Interested in learning more? Contact us for a free consultation. info@fbconsulting.biz #FBIndustry #SingaporeF&B #BusinessTransformation #RestaurantConsulting #diningsg #restaurantsg #Singaporedining #singaporebusiness #businesstimessg https://lnkd.in/gNt2dS7x