The trade war is taking its toll on the slowing Chinese economy. Last month, the country posted itsFast-food chains tend to benefit from economic downturns because consumers look for cheaper options, according to Aaron Allen, owner of global restaurant consultancy Aaron Allen & Associates. And China's foodservice economy — meaning how much consumers spend on food outside of the grocery store — is still growing.
Even when slowing down, China's economic growth still tops that of the U.S. And with a population of 1.4 billion people, China is an attractive market for restaurant chains looking for new customers. "When you look at that potential, it won't deter American brands from pushing into China," Allen said in an interview.
However, restaurants could feel a pinch from the trade war. Multinational restaurant companies typically source some of food from their home markets and some from local markets, according to Allen. Retaliatory tariffs levied by China on U.S. goods could result in higher food costs, he said. And trade tensions between the U.S. and China have already resulted in some U.S. goods being stuck at Chinese ports.
US restaurant chains look to China for sales growth as trade war continues via pathways to irreversible decline
KFC, Arby's, (McDonalds soon) is a conundrum because they have restaurant prices for drive-thru food. Idk about you, but if we're spending that kinda money, we're going to Olive Garden, Red Lobster, or Applebee's and get higher quality food for same price.
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