Reported about 1 year ago
The Taiwan Stock Exchange continued to hit new highs, boosting corporate and private consumer spending. As a result, corporate incentive gatherings have increased significantly, benefiting mid- to high-priced dining establishments. In June, the revenue of New Land Group's high-end teppanyaki and hot pot restaurants increased by over 10%, contributing to a consolidated revenue of 128 million NT dollars for the company, a 37.1% yearly increase. The first half of the year saw a record high in consolidated revenue at 937 million NT dollars, a 27.84% increase. The marketing VP of New Land, Lin Guowei, attributed the increase in corporate dining to better-than-expected corporate profits in the first half of the year, leading to higher dining prices. This trend, coupled with the booming stock market, has fueled consumer spending in dining establishments like 'Le Gueule French Teppanyaki' and 'Craft Excellence Hot Pot,' where large corporate gatherings and private dining events have surged, pushing up revenues. However, labor shortages remain a challenge, with a 25% shortfall in workforce driving businesses to focus on weekends to accommodate high customer demand and implement customer limits on weekdays, impacting overall performance despite increased bookings.
Source: YAHOO