Jollibee Sees High Income Down-Traders Make Up Low Income Shortfall

July 2008 | Company Finance Alert

Philippines' fast food market leader Jollibee Food Corporation has expressed confidence that sales growth will remain strong in 2008, despite the impact of spiralling food prices on consumer confidence levels. The food firm has reported that a growing number of high-income consumers are trading down to mass-market fast food brands as they find their incomes stretched; this has helped Jollibee to offset the fact that low-income consumers have dramatically reduced their spending on non-essential food and beverage

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