Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Restaurant Owners in Tears! Closed in Just 3 Months! 40% Already Closed, 50% Barely Surviving" video.

  1. 🍽 China's dining industry experienced a surge in new restaurant openings followed by a wave of closures, leading to a rise in secondhand equipment dealers. 01:01 The number of restaurants consulting equipment dealers for liquidation surpassed the previous month's total. 40% of the establishments that opened in the first half of the year have closed. 50% of the establishments are barely surviving. 💔 The three-year pandemic restrictions in China have severely impacted the dining sector, with over 1.7 million dining-related businesses being deregistered or revoked. 04:01 Over 1.7 million dining-related businesses have been deregistered or revoked in China in the past 3 years, surpassing the total of the previous decade. In 2020, over 320,000 dining outlets were deregistered in China. By the end of 2022, the total number of food and beverage outlets in China decreased by 7.75 million year-on-year. 🍖 The catering industry in China is experiencing explosive growth, with a surge in new restaurants and high demand for equipment. 06:41 Secondhand barbecue equipment items were sold out due to the high demand, leading to sourcing new equipment directly from manufacturers. The nationwide catering income in China reached 24.3 trillion yen in the first half of 2023, growing by 21.4% year on-year. The intense competition within the catering industry has led to an influx of new restaurants and a wave of restaurant closures. 😢 A newcomer to the restaurant business in China lost over 3 million yen in just 3 months due to the closure of her establishment. 09:38 The number of closures in the dining sector surpassed the figures from 2020 and was only 13.9% less than the total closures in 2022. In the first half of 2023, approximately 471,900 food and beverage related businesses in China were revoked or deregistered. 💼 The recession in China's real estate sector and decline in foreign trade may lead to a deeper economic slump, resulting in unemployment, pay cuts, and frugal consumer spending. 13:10 China's economy may experience deflation, leading to increased savings and reduced spending. Luxury and budget sectors are expected to remain stable, while middle-class consumers may prioritize essential purchases. Non-essential eateries, export-oriented businesses, and high-cost establishments targeting the middle class may struggle due to declining public spending and closures.
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