How Chinese consumers’ changing demands are keeping KFC’s owner on its toes
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Yum China CEO Joey Wat emphasizes the need for innovation and adaptability in the competitive Chinese fast-food market. With plans to expand from 17,000 to 30,000 outlets by 2030, Yum China aims to attract consumers through flexible store formats and affordable products. Wat acknowledges the strength of local brands and stresses that understanding local consumer dynamics is crucial for long-term success. As the market faces challenges, including economic deflation, the company is focused on meeting changing consumer demands to maintain its competitive edge against domestic rivals.
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