A new report indicates that home delivery is driving the overwhelming majority of earnings growth in the Chinese food and beverage sector.
The Chinese food and beverage sector currently derives 75% of growth in total operating revenues from home deliveries, according to a report recently released in Beijing by the Academy of China Council for the Promotion of International Trade (CCPIT).
The “Research into the Role of Home Delivery Operations on the High-quality Development of the Food and Beverage Sector” (外卖业务促进餐饮业高质量发展) report also indicates that home delivery accounts for 65% of growth in total profits.
54.95% of respondents to a survey conducted by CCPIT said that food and beverage home deliveries have increased their weekly food and beverage expenditures, while one out of five respondents use home delivery for afternoon tea or supper.
CCPIT chair Zhao Ping (赵萍) said that the direct role of home delivery operations was to drive growth in operating revenues in the Chinese food and beverage sector and create a new engine for profits.
Home delivery has seen a steady rise in its contribution to total revenues for the food and beverage sector in all sampled Chinese cities over the past three years, reaching 17.44% in 2019.