The rising competition also seen to bring new opportunities for incumbents and new players
LOCAL food and beverage (F&B) operators are facing increasing pressure from a flood of new entrants into the market – especially overseas players such as those from China. And some homegrown F&B brands are being forced to innovate – or consolidate.
For one, the fierce competition among eateries for physical space has driven rental prices up.
Anecdotally, rent has increased by 20 to 30 per cent since the pandemic, according to Alan Goh, chief executive of Singapore-listed F&B operator Katrina Group.
