The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2018
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Considering local residents’ preference for traditional tastes and pursuit for health eating, consumer foodservice offering traditional cuisine as well as health concepts gain popularity in Hangzhou. Meanwhile, as the hometown of a series of internet companies, digital payment, high technology and new model retailing are also emerging in Hangzhou to capture young consumers.
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Time-honoured restaurants offer a variety of traditional and classic cuisines with mild savoury flavours with a hint of sweetness, which are favoured by local and tourists. In addition to these restaurants, there are many traditional stores offering classic noodles and local snacks for local people.
Hangzhou, as an ancient city, is filled with antique-style foodservice outlets, but renovated restaurants are emerging to capture young middle-class consumers. With the gifted advantage of its geographic location with attractive lake views and natural environment, West Lake is surrounded by garden-style premium restaurants.
As the headquarters of Alibaba Group, Hangzhou is renowned for its rapid development of the internet and “intelligent” technology. Restaurants have appeared offering unmanned, 24-hour service, with no queueing. Facial recognition with 3D scanning of customers to verify payments is continuously introduced in restaurants to attract young consumers.
Tea houses prevail to satisfy the great demand from tea drinkers in Hangzhou, which is the origin of Longjing tea. The pursuit of green and healthy meals has become a trend in Hangzhou, which leads to the increasing number of vegetarian restaurants located around Hangzhou, as well as premium ones established near Lingyin Temple.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.