LEYEN CONSULTING

📣 Bibigo Bapsang Opens First Global Location in Hong Kong! As someone passionate about innovative dining experiences, I'm thrilled to share that Bibigo Bapsang has officially opened its first global location in Hong Kong! 🎉 The concept is fantastic—blending traditional Korean flavors with a modern twist. However, there's a challenge that caught my attention: the seating capacity. Given the dynamic dining landscape post-pandemic, having enough seats is more crucial than ever. During the pandemic, a concept like Bibigo Bapsang would have undoubtedly thrived. The focus on take-out and delivery was paramount, and limited seating wouldn't have been an issue. But as we move beyond the pandemic, the demand for dine-in experiences has surged. Restaurants are once again seeing queues during lunch hours, underscoring the significance of ample seating to accommodate eager diners. 🍽️ I've noticed that several take-out concepts around the corner haven't sustained well, proving their resilience. Yet, the need for a balanced approach between take-out and dine-in cannot be overstated. For markets heavily leaning towards take-out, the tried-and-tested two entrees rice shop model remains a solid choice. The opening of Bibigo Bapsang in Hong Kong brings a fresh wave of excitement and culinary diversity. It serves as a reminder of the evolving dining preferences and the importance of adaptability in the food industry. 🌍 I believe Bibigo Bapsang can still achieve great success by considering strategies to optimize seating and perhaps integrating more flexible dining options. This will not only enhance customer satisfaction but also ensure a holistic dining experience that keeps pace with current trends. Looking forward to seeing how this exciting new location evolves and contributes to Hong Kong's vibrant dining scene. 🍲✨

🌡️ As low temperatures approach, we’ve conducted an insightful study for a major F&B group in Hong Kong, focusing on two hot pot concepts. Here are the key takeaways: 1️⃣ Hot Pot Revenue: Sales see a significant uptick when temperatures drop to 20°C or below. 2️⃣ Brand A: Enjoys a remarkable revenue increase on weekdays, with a difference of up to 41%, while weekend sales remain steady. 3️⃣ Brand B: Experiences growth every day except Monday, with a difference of up to 30%. These insights highlight the strong correlation between colder weather and hot pot sales, particularly during weekdays. 💡 It may be time for both brands to enhance their marketing strategies during this season to maximize revenue. Let’s explore how we can leverage these findings to optimize performance across both concepts! #HotPot #FoodandBeverage #SalesStrategy #MarketInsights #HongKongF&B #LEYENConsulting

🔍 What Kind of Food Business is Best for the Current Situation? When business owners and investors ask me this question, my typical response is: “What is the current demand?” Most can answer this right away, but the real question often lies deeper: With everyone moving into in-demand sectors, how can you stand out? Congratulations on choosing a business that aligns with demand—this is the first crucial step. But the real challenge is attracting consumers to your door instead of your competitors'. ✨ Key Differentiators: Rare or Exclusive Products Take, for example, the recent Paris Art Basel event, which featured a pop-up Hong Kong-style café (Cha Chaan Teng) in a museum. This concept generated buzz because it was unique to Paris. While most visitors may not make Cha Chaan Teng a daily choice, many wanted the experience of being part of something special. In contrast, Cha Chaan Teng is a common sight in Hong Kong. Yet, it remains in demand due to current spending behaviors and economic conditions. 💡 Challenge for You: What rare or exclusive offerings can make your Cha Chaan Teng stand out? Remember, "product" extends beyond just food and drink—consider the entire customer experience. If you need help navigating these challenges, consult with LEYEN Consulting. Let’s explore how to turn your unique offerings into a compelling reason for customers to choose you! #FoodBusiness #Consulting #MarketDemand #Differentiation #LEYENConsulting

Are You Still Hiring "Been There, Done That" Candidates? In today's rapidly changing business landscape, relying solely on candidates with a traditional track record may not be the best approach. With businesses closing their doors by the dozen, it’s clear that past experience alone doesn’t guarantee adaptability or success in our current environment. Many hiring managers focus on related experience, conducting interviews with the same questions to verify credentials, and even checking references for reassurance. But here’s the crucial question:  How well do you truly understand your current situation? What are your pain points and shortcomings? What challenges is your business facing right now? Better yet, how you plan to grow? Without a clear grasp of these factors, it’s difficult to identify the right candidate who can effectively address your needs and drive your business forward. Let’s shift our focus from just experience to finding adaptable, innovative thinkers who can navigate today’s challenges. #Hiring #BusinessStrategy #Leadership #TalentAcquisition #Adaptability #leyenconsulting

📊 Market Performance Update: Q2 2024 Insights for Hong Kong As we navigate the dynamic landscape of the restaurant industry in Hong Kong, here’s a snapshot of the market performance for Q2 2024: Total Restaurant Receipts: Decreased by 2.1% year-on-year, estimated at HK$26.9 billion. Total Purchases: Down 4.0%, totaling HK$8.5 billion. Volume Trends: Adjusted for price changes, total restaurant receipts fell by 4.6% compared to Q2 2023. Performance by Restaurant Type: Chinese Restaurants: Receipts fell by 7.3% in value, 10.0% in volume. Non-Chinese Restaurants: Receipts decreased by 3.0% in value, 4.6% in volume. Fast Food Shops: Increased by 7.9% in value, 4.7% in volume. Bars: Dropped by 6.7% in value, 9.7% in volume. These trends highlight the challenges faced by various segments within Hong Kong's restaurant industry while also showcasing the resilience of fast food establishments. As we move forward, it’s crucial for businesses to adapt and innovate to meet changing consumer preferences and economic conditions. Let’s continue to explore strategies that can drive growth and sustainability in this evolving market. #MarketPerformance #RestaurantIndustry #HongKong #Q22024 #LeyenConsulting #BusinessInsights

🌟 Unlocking Staff Motivation Beyond Salary: The Power of Value In today's workplace, a competitive salary is just the beginning. Employees increasingly recognize their market value and aspire to roles that align with their ambitions. Even top-tier salaries may not suffice to satisfy their drive for growth. So, what truly motivates staff? 🕰️ Value of Life: Time off and work-life balance are essential. Prioritizing a healthy work environment and generous leave policies can significantly enhance employee well-being and motivation. 📚 Value Gain: Investing in training programs that equip employees with new skills and knowledge relevant to their career paths demonstrates a commitment to their growth and development. 📈 Value of Market: Providing opportunities for staff to lead projects and tackle challenges fosters a sense of ownership and ambition. By cultivating a culture centered on value, you empower employees to excel beyond financial incentives. When individuals understand the intrinsic worth of their contributions, they become self-driven and dedicated. Fostering a culture of value not only boosts staff motivation and performance but also attracts top talent across all levels. Remember, offering more than just a paycheck is akin to building a respected brand or running a prestigious institution. Let’s elevate our workplaces together! #EmployeeEngagement #WorkplaceCulture #CareerDevelopment #Leadership #LeyenConsulting

🌟 Is Hong Kong Still Competitive? Insights on the F&B Landscape 🌆🍽️ I recently had a conversation with a fellow consultant about the state of Hong Kong's food and beverage industry. We find ourselves in an unprecedented elimination phase—this isn't just another "it will come back" scenario; we need to adapt swiftly. This period is reminiscent of the baby boomer business era—those who evolve, like McDonald's and Mercedes Benz, will thrive, while those resistant to change may face extinction, much like Gerber. So, what does this transitional phase mean for us? We must focus on local market dynamics. The pandemic has fundamentally shifted consumer behaviors, making local appeal more crucial than ever. With tourist numbers unlikely to rebound to pre-pandemic levels and traditional attractions struggling to compete, our attention must turn inward. Consider the Night Market campaign from the HKSAR government. If it's targeting locals, we may need to rethink pricing strategies. Conversely, if tourists are the focus, it faces tough competition from Taiwan's vibrant night markets, Japan's renowned food streets, and Thailand's culinary hubs. What unique value can Hong Kong's night market offer to draw visitors? Even the drone falls short in its allure. As tourist interests shift towards western and northern regions, businesses must adapt their strategies accordingly. Unless we see groundbreaking government initiatives, prioritizing the local market is essential. Let’s tackle this challenge together, fostering innovation to ensure Hong Kong remains a competitive player in the ever-evolving F&B industry! 💡🍽️ I’d love to hear your thoughts! #HongKong #FBIndustry #LocalMarket #BusinessStrategy #Innovation #LeyenConsulting