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Yum China: Food Delivery War Has Minimal Impact on Group; Initial Improvement in Mainland Consumer Sentiment
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There are initial signs of improvement in consumer sentiment in Mainland China, and the response to promotional activities in October and November aligned with internal expectations, said Joey Wat, CEO of YUM CHINA (09987.HK). She believed that the key to the Mainland consumer market has always been the population economy, and if the macro environment improves, the group will hail growth potential. When asked about the impact of the food delivery war on the group, Wat noted that this is not the first occurrence, as a similar situation happened in 2017. At that time, Pizza Hut joined the mainstream to provide subsidies, which resulted in a sales decline after the subsidies ended. Therefore, the group learned from this experience and approached this year's food delivery war more effortlessly, with the food business quitting subsidy competition. Meanwhile, the group took advantage of the situation to establish long-term cooperation with platforms, so overall, the food delivery war did not adversely impact the group. AASTOCKS Financial News Website: www.aastocks.com |
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