On September 24th, it was reported that Yum! Brands China and Poly Development Holdings signed a strategic cooperation agreement at Poly Development Plaza in Guangzhou, which will further accelerate Yum! Brands China's expansion in community commerce.
It is reported that both parties will fully utilize their respective technological, management, and brand advantages in the commercial field to strengthen cooperation in expanding commercial projects. Yum China stated that community business layout is one of the key directions for Yum China's expansion. With the acceleration of urbanization, many community businesses in second - and third tier cities and below have gradually emerged. By opening small stores, companies have filled the existing blank market and helped promote the development of community businesses. This type of small store can not only effectively reduce rent and operating costs, but also quickly enter new community business districts, thus covering a wider range of consumer groups. At the same time, the strong digital foundation and deep cooperation with major food delivery platforms have also greatly enhanced the online ordering experience of community residents, providing consumers with a more convenient food experience.
It is understood that the Pizzahut WOW, the representative of Yum! China's innovative store, focuses on quality price ratio. Pizzahut said publicly that since its first store opened in Guangzhou in May, the number of stores of "Pizzahut WOW" had exceeded 100 by August, and it plans to open at least 200 stores by the end of this year. Qu Cuirong, CEO of Yum! China, said at this year's performance meeting that the "one person food" group, young consumers and price sensitive consumer groups are the core customer groups of "Pizzahut WOW".