International cuisine was one of the cuisine types within other retail channels, according to GlobalData’s menu intelligence database. In its menu analysis of other retail in Hong Kong report, GlobalData analyses 568 menu items across other retail outlets and provides an overview of various foodservice channels in Hong Kong. According to GlobalData, other retail makes up 0.251% of all restaurant types in Hong Kong. Buy the report here.
Confectionery was found to be the most-used ingredient in other retail establishments, featuring in 20% of menu items, followed by fruit and milk. Hot Drinks and herbs, spices & seasonings were also significant ingredients. An analysis of menu categories reveals that meal deals and combinations, soft drinks, salads & sides, hot drinks and pudding & desserts were most popular within the other retail format.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in Hong Kong other retail channel have dropped by 0.8%. Considering all channels (including other retail) the average price change was 0%. As on-premises dining gains momentum following the COVID-19 pandemic, the other retail segment in Hong Kong is expected to experience overall growth. Moreover, the introduction of new menu items that emphasize health and wellness generates interest in those seeking nutritious menu options and greater variety.
Different restaurant types exhibited mixed price movements within Hong Kong foodservice market between 2023 and H1 2024. Of all the restaurant types, venue exhibited highest price hike, while other retail experienced a maximum price decrease.
An in-depth analysis of other retail price trends by location reveals consumption trends of each region. The graph below represents the change in other retail menu prices between 2023 and H1 2024 across the top five locations. As seen below, other retail menu items in Admiralty became more affordable as compared to Tsim Sha Tsui and Hong Kong.
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In the Hong Kong market, other retail operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavors of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into Hong Kong other retail menu, buy the full report here.
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