The number of stores has exceeded 3,000 Barbie Mantou in 2020 revenue of 980 million, but such a volume of Babi Mantou only accounts for 2.5% of the number of stores in the Bag Point category.
In the nearly 60 billion yuan package point market, the revenue scale of 1 billion yuan of Babi steamed buns is only 2%, which shows that the development potential of the package point category is still very large.
Article highlights:
What is the general appearance of the package point category?
What is the development status of the package point category?
What are the problems and ways out facing the package point category?
One or two buns or steamed buns with a cup of soy milk, such a hot breakfast under the belly, the day when the workers are full of spirits can be officially opened. Eating food for breakfast has become the eating habit of many people, and it has also laid the foundation for the catering market size of more than 50 billion yuan in the category of package points.
At the same time, the Red Food Brand Research Institute estimates that the number of package stores in China is expected to exceed 150,000 in 2021, and the market size of the entire package point category will reach about 60 billion yuan. In the scale ranking of the package point category, the listed company Babi Mantou ranks first with 3700+ stores, but the first Barbie Steamed Bun only accounts for about 2% of the number of stores, from this value, the package point category does have unlimited potential, we can imagine that the package point category may be able to run out of a new batch of listed companies.
So, how does a small bun pry the market of more than 50 billion? Perhaps we need to start with the basic overview of the package category.
<h1 class="pgc-h-arrow-right" data-track="10" >1 Ten billion business experience of a bun</h1>
Bun point is a fine product based on pasta, from the definition point of view, steamed bun ancient called "brute head", also known as "steamed bun", "steamed bun", is the original name of "bun".
Historical records, the word "steamed buns" first singlely refers to the bun point containing filling (that is, today's buns), from a historical point of view, the Song Dynasty had the titles of "buns" and "steamed buns", but the earlier buns and steamed buns have always been mixed, until the Qing Dynasty the two gradually differentiated. (For the sake of convenience, the following uniformly refers to the stuffed one as "bun" and the one without filling as "steamed bun")
1. The package point comes with the gene of retail
At the beginning of the development, the steamed bun (covering buns and steamed buns, etc.) can stay in the steamer all day, waiting for the customer to come to the door, the boss then opens the steamer basket to hand the package to the customer, and then the customer pays, and the single business is over.
The Northern Song Dynasty Tao Gu's "Qing Yi Lu" mentions that there were already "green lotus buns" sold in the "restaurants" (shops that sold food) at that time. This restaurant is similar to our small shop today, from which it can be seen that the bag point category has long achieved instant retail consumption.
△Image source: Photo Network
After reviewing the relevant historical materials, it was found that the baodian catering in ancient times was a steamer business with a steamer out of the stove heated by firewood, and from the perspective of the model, the ancient baodian shops had both street stalls that did not require dine-in food, and street shops that provided dine-in food. From this point of view, there is no essential difference between the ancient baodian store and today's store model. Only the development of modern times, the content and connotation of the package point category have become more and more abundant.
2. The business of the bag shop has been prosperous for a long time
Baodian category in the north has three well-known old brands, Dog Bu Li was founded in 1858, earlier known as the first of the "Tianjin Three Absolutes"; the first floor of Kaifeng was established in 1922, and still uses soup buns as a signature product; Qingfeng (Wanxingju) began in 1948, because the buns of Wanxingju after opening were indeed well received, and officially renamed Qingfeng Bun Shop in 1956.
The bun brand founded in the 19th century is still in operation, from the past to the present, the business of Chinese-style bun shops has been prosperous for a long time, even in the present, most of the residential communities and office buildings will have one or two bun shops.
Why is the business of baodian shops so long and blooming everywhere? Observer Jun believes that there are the following eight reasons behind it:
Baodian has a long history, running through ancient and modern times.
Package point products are abundant, the price is low, suitable for all ages, rich and poor.
The nationalization of the category is obvious, such as a fresh meat bun or a vegetable bun, which is basically eaten from north to south.
Folk culture has strengthened the spiritual status of Baodian (for example, Shanxi, Guangdong and other places have the Xiazhongyuan Festival, the Xiayuan Festival, and other festivals to worship the ancestors with buns).
From the perspective of category, package points also have their own advantages:
Compared with opening a stir-fry shop, the threshold for starting a business in a baodian store is lower, and there is no need to consider the back kitchen and complicated back kitchen equipment.
The retail attributes of baodian stores make the store backend easier to manage and do not need to think too much about service issues.
The price is low, in large cities, less than 10 yuan, you can achieve breakfast bun freedom, and in the northern third-tier cities, customers can spend 1.5 yuan to buy a meat bun, you can also drink millet porridge for free.
3. The humble bun category gave birth to the first listed company
Not only is it full of vitality, but the store types of baodian stores are also very diverse.
In addition to the regular small shops of buns, there are also stores of the partial meal type represented by Qingfeng bun shops and dog disregard, as well as fast food stores represented by Xiao Yang Sheng Frying and Lao Sheng Chang Soup Buns.
All along, the Baodian brand is actively seeking changes in order to find a more suitable development path.
For example, Qingfeng buns earlier opened a restaurant, later changed to a bun shop, and so far has returned to the restaurant model, the products have buns, porridge, side dishes, stir-fried vegetables, and even roast duck and fried belly and other products; dogs do not pay attention to buns famous, and then changed to the main Tianjin cuisine, mainly do high-end business, a cage of vegetarian buns in the store are sold to 48 yuan; in 1999, the old Shengchang soup bun restaurant opened its first store in Shanghai, so far has been the main Suzhou soup buns, pastry, rice bowls, etc., per capita in about 10 to 40 yuan.
However, the brands of the dinner model and the fast food model do not seem to have developed very quickly, such as Dogbu and Qingfeng Buns, which have maintained the volume of dozens and hundreds of stores.
What most people did not expect is that the real opportunity of the package point category was actually born in the small shop model. In 2003, Babi Mantou was founded, it cut into the breakfast scene, the main per capita 4 to 6 yuan of handmade fresh meat buns are obviously more favored by office workers in first-tier cities, in 2005, Babi Mantou built its own supply chain and opened up in the form of branding.
Through strong supply chain management, stores do not need too complicated operations, using the fillings and dough distributed by the central factory, store employees only need to wrap the package like dumplings and put them into the steamer.
Based on this model, Barbie was able to quickly expand its stores. In 2020, Barbie successfully rang the bell with nearly 3,000 stores and nearly 1 billion annual revenue, and as of August 13, 2021, the total market value of Babi Foods reached 8.506 billion yuan.
△ Image source: Babi Food official website
One of Barbie's successes lies in the cluster effect, which turns the mom-and-pop shop into a brand chain. The traditional mom-and-pop shop gets up early and is greedy, the store opens at 6 o'clock, but the bun shop around 4 a.m. actually starts to light up, and the chain model liberates the early morning work of the bun bosses, with the help of a perfect supply chain system, the catering bosses only need to prepare half an hour in advance, and moreover, the chain model allows the store operation and product taste to reach standardization, which can be said to improve the catering competitiveness of the bun shop.
4. Categories with retail advantages have finally ushered in retail competition, and the development of catering in the package category is facing challenges
The advantages of the strong supply chain provide new impetus for the development of the chain of baodian restaurants, but everything has advantages and disadvantages, and this technology has also brought fierce homogeneous competition to breakfast bun shops, at the same time, food retail players have also entered the game.
Take the most typical breakfast bun shop as an example, around the 90s, the bun shop made hard money, the boss had to get up at 4 or 5 o'clock in the morning or even earlier to prepare goods, such as making buns and grinding soy milk, etc., and then opened at 6 o'clock, and ushered in a small wave of peaks at 7-8 o'clock, but eventually it may fall into a business trough around 9 o'clock. At that time, a bun was almost 5 cents, and there were only a few sporadic products.
By around 2000, the trend of catering standardization was also empowered into the bun category, and automatic soybean milk machines, cold chain delivery buns or meat fillings and dough were sent to the store, and at this time, a bun was also sold to 1.5-3.5 yuan a piece. This has brought dawn to restaurant owners, but it has also brought more competition to restaurant stores.
Groups of food retail moguls and convenience store players began to enter the game. For example, Sanquan, Si Nian, etc. have sold frozen package points in supermarkets, and supermarkets also have specific catering areas, whether it is frozen buns or hot buns, supermarkets should have. With the rise of e-commerce, cold chain buns (including steamed buns, etc.) have also entered consumers' shopping carts, and convenience stores everywhere have also taken package points as one of the standards of store catering.
This may not only be the development challenge encountered by brands such as Babi Mantou, but also the development problem that the entire package point category needs to face from the present to the future.
On the one hand, cross-border players are eyeing the tiger, while on the other hand, the package point category itself is also full of problems.
<h1 class="pgc-h-arrow-right" data-track="51" >2 pack point category status: long-established brands and fashion brands coexist</h1>
Economics has an informal method of economic indexing, which is converted into dollar prices based on the price of McDonald's in various places, which can be converted into dollar prices through exchange rates, so that differences in purchasing power levels can be compared across countries.
The package point category also has the same logic, for example, if you want to understand the package point category more objectively, then you should go to the first-tier cities.
1. The number of bun stores in East China and South China is the largest
According to the data of the Red Food Brand Research Institute, the number of stores in East China and South China has reached 63%; from the perspective of specific cities, the city with the most package stores is Shanghai, which is riding the dust with a total of 4509 stores, and the four major cities of Beijing, Shanghai, Guangzhou, and Shenzhen occupy the top five positions in the number of stores, which means that consumer choices in first-tier cities will be more diverse.
The more stores in the city, the more convenient it will be to buy buns, and the more diverse the choices.
For example, in the fourth- and fifth-tier cities, usually the buns are only the freshest in the morning, and at noon and afternoon, consumers can basically only buy the buns left over from the store in the morning. In Shanghai, Beijing, Hangzhou and other places, Ganqi Food, Babi Steamed Buns, Fengqi Xiaolong and other stores are at noon and afternoon, and they can still see their employees packing buns in the store. Although these brands use cold chain fillings, who doesn't love the pyrotechnic gas that just came out of the pot buns?
In addition, in the third and fourth-tier cities, the buns that consumers can buy are mostly classic, such as conventional meat buns and vegetable buns, while in first-tier and new first-tier cities, there are usually more innovative products, such as curry potato beef buns, meat foam vermicelli buns, Inner Mongolian lamb buns, and spicy crayfish buns and wild vegetable buns.
2. 60% of the people below 15 yuan are 60%, and buns tend to be civilian
According to the data of the Red Food Brand Research Institute, in the package category, the per capita consumption of stores in ~10 yuan accounted for the highest proportion, reaching 25.36%; followed by 11 to 15 yuan, reaching 21.83%.
In the range of per capita consumption price of 5-10 yuan, there is a small shop model brand represented by Babi Mantou.
From the perspective of specific products, Barbie Mantou is mainly engaged in breakfast packs, and there is basically no dine-in. Perhaps for the sake of business expansion, Babi Mantou has launched a lot of new products in 2021, including small dumplings, char siu buns, dumplings, etc., and some stores have even launched frozen fresh meat buns that are taken out to home, which shows that Babi Mantou is already exploring retail, and frozen meat buns may be just the beginning.
Stores of more than 30 yuan account for only 7.14%, and this per capita consumption price range is long-established brands such as Qingfeng buns and fashion brands such as Xiaoyang Shengpan. In Qingfeng Bun Shop, the per capita reached more than 30, because there are other products such as fried sauce noodles and pot stickers in the store, and the unit price of the bun itself is still relatively civilian. The average person who ignores the dog is higher, basically to 100 to 150 yuan.
The average person fried in Xiaoyang is about 30. Its raw fried buns change the inherent "minced filling mode" of the bun shop (for example, the filling of the buns is basically chopped into minced or stirred into puree), and instead use large particles of ingredients that are visible to the naked eye, such as prawn raw frying, bullfrog raw frying, etc., and the skin of the raw fried buns is thinner than that of the general buns, so customers will bring more satisfaction to eat raw fried buns, which also increases the customer's willingness to pay for raw fried buns. In addition, in the Xiaoyangsheng pan-fried store, consumers can also eat beef vermicelli soup, chutney powder, duck blood soup and other non-package products.
△ Raw fried prawns. Image source: Xiao Yang Sheng fry official website.
However, the proportion of the store model of 30 yuan per capita is very small, and it can be seen that the package point still belongs to the national affordable snack, but the development of Qingfeng bun shop, Xiaoyang Sheng frying and so on is also good, which shows that people still have consumer demand for high-end package points.
3. Long-established brands and fashion coexist, and the package category can also play high-end
Dog ignore, Qingfeng bun, the first floor and other long-established brands that belong to the category of bag points. In addition to the old brand, in recent years, close to the shopping mall to open stores, the consumer group is mostly young people, the product has a certain personality of the small Yang sheng fry, Fengqi Xiaolong and so on can be classified as a package of fashion brands.
So, can the old brand and fashion coexist? Din Tai Fung may have solved this need, which is a mid-to-high-end restaurant that attracts countless fashion foodies to punch in through small dumplings. As of recently, Ding Tai Feng, founded in 1972, has gone through nearly 50 years, but it is not next to the old image. In 2014, the New York Times named Din Tai Fung one of the top 10 restaurants in the world, and DIN Pacific Hong Kong was awarded a Michelin star for five consecutive years. In Din Tai Fung, a small dumpling can be sold for up to 130 yuan / 10 pieces, and a small steamed bun with only one bite is sold to 13 yuan / one.
Din Tai Feng's bun is the top of the bun, in fact, the brand that makes high-end buns is not a Din Tai Fung family. For example, in Yunhai cuisine, a Yunnan cracked puff pastry bun also sold for 8 yuan a piece; for example, some roast duck shops are also selling black truffle dumplings, the price of 29 yuan / 4.
In the face of fashion, the price of 8 ~ 12 yuan / is not the end, in 2019, Ma Dong opened a thank you tea, the price of the classic brine meat bun sold in the store is 18 yuan / one, and the price of cheese tomato brisket bun is 33 yuan / one.
But high-end buns are still relatively small after all, Ma Dong's thank you tea currently has only one store, in the entire package market, more or priced in the range of 1.5-3.5 yuan package store.
<h1 class="pgc-h-arrow-right" data-track="75" >3 pack point dilemma: Practitioners are gradually losing the necessary pack point skills</h1>
Any developing category, it is stepping on the problem to move forward, and the problem is also one of the visible characteristics of a category, and the same is true for the package point category.
1. When the buns start standardizing
Standardization and supply chain lowered the threshold for starting a business in the package category, and in 2000, to open a bun shop, the owner either hired a chef or had to make his own buns. Even if they are small in food and beverage, they have to go to the catering training school to learn skills such as buns, noodles and fillings.
However, in recent years, opening a bun shop can also not need to know the pastry skills, the headquarters can be through the perfect supply chain to the frozen package point directly delivered to the store, the store staff only need to be responsible for order preparation, steaming point, production can be.
In stores such as Ganqi Food and Babi Mantou, the headquarters directly distributes dough and fillings, as well as other quick-frozen products, and store employees only need to wrap the filling and buns together (you can also deliver the packaged frozen buns).
Baodian has long become a standardized product that can take the retail model, and the Baodian store has naturally become a retail store, while the processing value of the catering store will be greatly weakened, which may kill the (partial or full) innovation ability of category practitioners.
Because if the restaurant owner of a bun store no longer needs to make buns, then the bun store becomes a retail store, but from a retail point of view, it is difficult for a retail bun shop that is less than 12 hours open to surpass a retail convenience store that is open for 24 hours.
Of course, everything has advantages and disadvantages, and a sound supply chain brings great convenience to the baodian store and reduces the threshold for entrepreneurship, but there are inevitably hidden worries. Perhaps for the bag point brand, in addition to providing standardized package point products, how to differentiate their stores is also a thing worth thinking about.
2. Bun shops are running into a wall in the takeaway industry
The takeaway ability of the package category is slightly embarrassing.
Observer Jun investigated the July takeaway situation of Laotaimen Soup Bun in a store in Hangzhou. The store's takeaway sales are not bad, with monthly sales of hot products reaching 1500 copies. The starting price of this store is 15 yuan, and the delivery fee starts from 2.5 yuan.
A consumer ordered 9 sauce cakes, 6 fresh meat dumplings, 1 fresh juice meat bun in this store, the total price is 32.4 yuan, with the full reduction of 25-9 yuan in the store, and then enjoys a reduction of 3 yuan delivery fee, 1 yuan reduction for new customers, 2 yuan for merchant vouchers, 12 yuan for Alipay red envelopes, etc., and the final actual payment is only 5.4 yuan.
5.4 yuan ate 9 sauce cakes, 6 fresh meat dumplings, 1 fresh juice meat bun, and also delivered home, but the customer gave a bad review, the reason is "one less bun".
After observation, jun understands that the store's full reduction and red envelopes often fluctuate, but the per capita order is basically stable between 10-20 yuan, and the total reduction of most orders is between 9-30, that is to say, the cost of customer acquisition for a single takeaway in the store is 9 to 30 yuan.
In another Barbie mantou Hangzhou store, its starting price is 20 yuan, the full reduction is 25-1, and does not participate in the red envelope of members, but the truth is cruel, the store's main product monthly sales are only single digits.
Looking at the per capita yang sheng frying of 30 yuan, take a store in Shanghai as an example, its starting price is 20 yuan, and the cost of customer acquisition in the store is about 12 yuan, but the monthly sales of hot products are only three digits.
It can be seen that if you are not willing to pay such a high promotion cost, the takeaway of the store cannot be done, and more importantly, it has paid a very high promotion cost, and it may not be able to have good sales.
Therefore, a large number of bun shops choose to only do dine-in, these stores do not even plan to step into the door of takeaway, the boss believes: "The per capita is so low, the profit is not high, and the labor cost cannot be earned back."
3. In addition to Babi mantou, the breakfast market has not yet run out of several big brands
According to Mintel's data, in 2020, the scale of China's breakfast market has reached 1.87 trillion yuan, and the package point is one of the main forces of the breakfast market, but unfortunately, in addition to the Babi steamed bun that has been listed, other brands under the entire breakfast package category have not formed a real cluster effect, and the more well-known categories of small Yang Sheng fry, the first floor, Qingfeng buns, etc. are still in the order of hundreds of stores, and they are all regional brands, basically not yet to the development stage of the national brand.
The reason for this may be that the homogenization of package products is too serious, the category barriers are not high, and the retail formats such as convenience stores and supermarkets are grabbed.
However, the scale of the bun category market is huge, and the husband-and-wife small shop model is not the mainstream after all, which means that there will be great opportunities for the bun category. With the gradual development of the market, perhaps we will see more big brands later.
4. How to increase the unit price of customers, this is a problem that practitioners of the entire category need to face
The regular price of a fresh meat bun in Babi Mantou is 2 yuan, and public information shows that the gross profit of the Babi Mantou franchise store is about 30%. As the saying goes, three points of gross profit is full of food, but if today's business pursuit is only to eat a full meal, perhaps it is better to open a shop early and open a shop all year round than to work happily.
In order to make the revenue of the store to a higher level, in addition to reducing the cost from the operation, it is also a desirable way to increase the per capita of the product. For example, the same is no dine-in store, and the meat bun of thank you tea can be sold for 30 yuan. With no monosodium glutamate, no genetically modified oil, and only brand-name pork, a raw fried bun fried by Xiao Yang sheng sold for about 5 yuan. The practice of these brands provides an innovative idea for the majority of baodian brands.
Improving the profit margin of the store is also improving the anti-risk ability of the store, since consumers are willing to pay when consuming package products such as buns, how to find ways to increase the unit price of customers, change the low customer list of the entire category and the more traditional phenomenon of the store, which is a problem that the practitioners of the package point category need to think about.
<h1 class="pgc-h-arrow-right" data-track="107" >4 How should the package point category go in the future? </h1>
The package point category is a national food, with a market size of hundreds of billions, but it is large but not strong, in its own serious at the moment, but also encountered retail gangsters cross-border grab food, for the package point category of brands, the future to go how to go?
1. Stick to it: The traditional advantages of handmade and good ingredients cannot be lost
Din Tai Feng can sell at a higher price, not only because it has the label of a Michelin restaurant, but more importantly, the operator's exquisite and persistent craftsmanship of the package products.
Package point is first of all a catering category, under the catering cognition, fresh ingredients, food safety is inviolable fundamental, and in the consumer's cognition, handicraft is the most conventional attitude to catering, the market has proved that it is true, such as the more Ming file handmade package, the more consumers are interested in consumption, in addition to the pursuit of better taste, the sense of experience is also something that consumers care about.
With a standard quick-frozen product on the market, craftsmanship and freshness should be a big plus. Adhere to the bottom line of freshness, the essence of good ingredients, and the advantages of handmade fresh bags, which can naturally improve the competitiveness of package restaurants in the market.
2. Development: Step on the throttle of catering and retailing to the end
Since the package point category itself has the advantage of retailing, it may also be necessary to give full play to the advantages of retailing.
Take Xiao Yang Sheng frying as an example, Xiao Yang Sheng frying relies on the manual advantages of the store to be freshly fried to obtain market recognition, and in the takeaway channel, Xiao Yang Sheng fry launched a retail pre-packaged Guiyuan porridge, on Taobao there are also Xiao Yang Sheng frying purchasing, Xiao Yang Sheng fry cold chain vacuum can be sent to the whole country, with this kind of attempt, Xiao Yang Sheng frying pre-packaged frying may also be a profitable way to comply with market demand.
Old Shengchang has long sold quick-frozen products on Tmall, covering small dumplings, roasted buns, meat buns, steamed buns and other products; Babi Mantou has also opened stores on Tmall, and the price of frozen products is cheaper than the store (about one yuan cheaper for a single bun). Old Shengchang's retail products are only sold in e-commerce, not on the takeaway platform, but Babi Mantou has also launched frozen retail products in some stores, although Babi Mantou currently only launched a frozen bun on the takeaway end, but it is not impossible to increase the retail efforts of the takeaway end in the future.
Compared with the small steps of Barbie Steamed Bun on the takeaway end, the Baodao Cantonese Dim Sum Specialty Store has directly launched a "frozen series" on the takeaway port, covering quicksand buns, fresh meat buns, sauerkraut buns, glutinous rice chicken, white steamed buns and other products.
△Image source: Bao Dao official website.
From the perspective of marketing development, let the quick-frozen products enter the consumer's kitchen, which may also be a way of brand development, and the package restaurant companies with retail development capabilities may wish to try.
3. Innovation: Both Chinese and Western cuisines can serve as the innovative mother bank of package points
Judging from the product logic of Xiaoyang Sheng frying, it is not much different from Xijiade's shrimp dumplings, such as Ming file, large shrimp kernels, and handmade fresh bags. It is very obvious that products such as dumplings and wontons can be used as the product innovation mother library of the package point.
From the perspective of the properties of the bun filling, products such as balls and lion heads can also be used as the product innovation mother library of the bun dot filling. Even from the classic brine bun and cheese tomato brisket bun and other products of Thank You Tea, not only the eight major cuisines, but even Western dishes can become the product innovation mother bank of the bun.
Jump out of the perspective of traditional package points, you can have many innovative directions. As a result, we can see Ding Taifeng's seafood dumplings, black truffle steamed buns, Mapo tofu buns (Western-style method) and shredded meat buns with Beijing sauce launched by Heytea, hot pot steamed buns and fresh meat chives buns launched by Night Buns.
△ Black truffle dumplings. Image source: Din Tai Fung official website.
This is also one of the most advantageous features of the package point category, the so-called package point, may be "inclusive of all things, and do not stick to the existing point." Many package point brands may also learn some innovative ideas from it.
<h1 class="pgc-h-arrow-right" data-track="127" > conclusion</h1>
From the overall point of view, the package point category has both catering advantages and retail advantages, and belongs to the national-level category in the development of double advantages. At the current stage of development, looking at the entire package point category, the industry still lacks big brands, in addition to Babi steamed buns, Xiaoyang Sheng frying, Qingfeng buns, etc. still have the opportunity to develop thousands of stores of big brands.
Needless to say, the prospects of the entire package point category are broad, and it is entirely possible that listed companies with hundreds of millions of revenues will be born in the future, so let's wait and see.
Written by | Fang perhaps
Design | Huang Lihui
Resources
1, the revenue of nearly 14 billion, the potential of the bun market will not be ignored? | I know
2, Barbie food: the breakfast chain behind a steamed bun is | Genki Capital
3, the dog ignores the defeat and leaves the capital, and it is difficult to turn over the frozen food | Friends of 36 Krypton
4. Is selling buns a good business? After we compared Qingfeng, Dog Ignore, and Little Six Soup Buns, we found that... | Friends of 36 Krypton
5, the dog ignores VS Babi steamed buns: the hundreds of billions of buns between one in and one retreat | New consumption of the tide
6, China's top ten bun rankings, how many have you eaten? | I know
7. 20,000 words to interpret Chinese catering in 2020, insight into 4 major trends | Note-taking man
8, China's breakfast market into the Warring States era famous enterprises to divide the market of 100 billion | Beijing Youth Daily | People's Daily News
9, 2 yuan a bun, Babi mantou spent 17 years to achieve a revenue scale of 1 billion yuan | Tiger Sniff Big Business Group
10. Other sources: Baidu Encyclopedia keyword entries