香港老牌餐饮店收缩背后：北上消费分流、供应链比拼

Core Viewpoint - The Hong Kong restaurant industry is undergoing a significant transformation, with many traditional establishments closing down due to various financial pressures and changing consumer behaviors [1][22]. Industry Overview - The closure of the Ming Dou Restaurant, a 35-year-old establishment, reflects a broader trend in Hong Kong's dining scene, where numerous iconic tea houses have been shutting down or downsizing since 2025 [1][22]. - Over ten well-known dining brands have announced closures since 2025, including Hong Xing Seafood Restaurant and Dai Ban Bakery, indicating a significant contraction in the market [7][11]. Financial Performance - In the first quarter of 2025, total restaurant revenue in Hong Kong was HKD 28 billion, with a 49% decrease in revenue for Chinese restaurants after adjusting for price changes compared to the previous year [11][22]. - The operating cost for small and medium-sized enterprises has risen to 68% of revenue, a 15 percentage point increase from pre-pandemic levels [11][22]. Consumer Behavior - A new fast-food model called "Two Dishes Rice" has emerged, offering affordable meal options priced between HKD 17 and HKD 60, catering to cost-conscious consumers [11][22]. - The popularity of this model has led to an increase in the number of such establishments in Hong Kong, with traditional tea restaurants also adopting this business model [9][22]. Challenges Faced - High rental costs are a primary reason for many restaurants closing, with some establishments unable to sustain operations due to significant rent increases [11][22]. - Traditional dining establishments are facing competition from mainland chains that utilize more efficient payment and operational models, leading to a decline in customer traffic [14][22]. Market Dynamics - The influx of Hong Kong residents traveling to mainland China for dining has intensified competition, with many preferring to dine in cities like Shenzhen where prices are significantly lower [18][20]. - The exchange rate between the Hong Kong dollar and the Chinese yuan has influenced consumer behavior, with the HKD fluctuating around 0.91 to 0.95 against the CNY in recent years [20][22]. Future Outlook - Despite the current challenges, there are signs of potential recovery as some restaurants are adopting new technologies and operational strategies to enhance efficiency and reduce costs [22][23]. - The unique culinary culture of Hong Kong remains a competitive advantage, and there is potential for cross-border collaboration between Hong Kong and mainland dining markets [22][23].