Driving Digital Innovation to Enhance Customer Experience: Tai Hing Group's Diverse Strategies to Expand Post-Pandemic Opportunities
Tai Hing Group Holdings Limited (referred to as "Tai Hing Group" or the "Group") envisions to providing quality food and services while committing to four core principles: “People”, “Customer First”, “Quality Prioritised”, and “Innovation for Development”. As the Group expands its business landscape, it actively seizes the opportunities brought by the low-carbon economy, aiming to create long-term value and pursue the best interests of shareholders and stakeholders. Additionally, the Group is dedicated to fulfilling its corporate social responsibility and making contributions to the sustainable development of society.
Proactive Stakeholder Communication
Tai Hing Group values the opinions of investors and stakeholders, actively engaging in two-way communication through various channels and platforms, including company reports, surveys and assessments, regular meetings, on-site visits etc. In addition to regular communication, the Group conducts stakeholder engagement during the preparation of sustainable development reports each year, which strives to identify sustainable development issues that are significant to the Group, the environment, the society and the economy.
Seizing Opportunities and Expanding Business LandscapeWith the receding of the pandemic this year and gradual improvement in the business environment, Tai Hing Group actively seizes the business opportunities brought by the return to normalcy. During the pandemic, the Group optimized internal operations and reevaluated its restaurant network strategy, the Group has been flexibly adapting to changes and demands in the market and consumer dining patterns. Since the lifting of travel restrictions, the number of visitors to Hong Kong has been increasing. The Group targets the opportunity of returning travellers and actively expands its presence in various tourist areas in Hong Kong, specifically targeting on prime locations to expand its business landscape. Meanwhile, the Group continues to expand its marketing efforts by announcing Mike Tseng, the up-and-coming singer, as the spokesperson for "Men Wah Bin Teng" for both mainland China and Hong Kong. The Group also carries out renovation projects for its restaurants, including Tai Hing, TeaWood, and Trusty Congee King, presenting a new image to attract customers.
Tai Hing Group capitalizes on the vast market in the Greater Bay Area by introducing several of its brands to key cities such as Shenzhen and Guangzhou, which aims at increasing exposure and brand recognition. Last year, it actively integrated its mainland China branches by concentrating resources on expanding its presence in the Greater Bay Area and potential development outlets, hoping to synergizing with the neighbouring core market of Hong Kong.
Strategic Business Development to Consolidate Market LeadershipTai Hing Group seizes opportunities by committing to expand its business landscape through a diversified brand strategy, gradually increasing market penetration and attracting a wider customer base while focusing on its mature and established brands such as "Tai Hing," "Men Wah," and "TeaWood", which contribute the top three revenue sources. Last year, the Group launched the sub-brands "Men Wah Ex" and "TeaWood Light" to cater to the demands and new normality of the dining market through a simple and convenient takeaway model.
The Group also adjusts its development direction by introducing a new fashionable brand to enter the middle to high-end market, shaping a new brand image to broaden and strengthen its customer base and consolidating its leading position in the market. As the business continues to expand, the Group maintains customer interest and excitement through continuous innovative promotion strategies. It has created multiple distinctive advertisements and marketing campaigns that have been well-received by the public, leading the way in the food and beverage industry.
Driving Digital Transformation to Enhance Customer ExperienceThe Group recognizes that traditional operating models could no longer keep pace with market developments. With the advent of the digital era, embracing digitalization and integrating innovative technologies has become an inevitable trend. The Group currently holds three patents for automated food processing machines, which enhance operational efficiency, ensure food quality, and reduce the risk of employee fatigue, thereby improving occupational health and safety.
In terms of customer experience, the Group's restaurants have introduced the POS Everywhere ODO mobile ordering system, allowing customers to place orders and make electronic payments conveniently, which helps streamline the ordering-to-payment process. The Group’s first, upcoming comprehensive mobile application platform will be able to provide customers with one-stop convenient services, including food delivery, self-pickup for takeaways, purchasing packaged food and electronic vouchers etc. The application will also record customers' consumption habits, helping restaurants to provide targeted discounts and rewards, assisting in formulating marketing strategies, and enabling customers to have a more personalized experience.