At the end of the year and the beginning of the year, the food industry "rose".
Shortly after the "net red tea drink" tea face yue color official announced the price increase, the "old tea drink" Xiang Piaopiao also joined the ranks of price increases.
On January 4, Xiangpiaopiao issued an announcement that due to the continuous rise in the cost of major raw materials, labor, transportation costs, energy and so on, the price of solid brewed milk tea products will be adjusted from February 1, with a price increase of 2%-8%.
In recent years, under the impact of the new tea drinks represented by xi tea, tea color and Nai xue tea, XiangPiao is somewhat "unable to sell", and the performance has declined significantly. Nowadays, it can't withstand the cost pressure and the official announces the price increase, but can the price increase save it?
Half-year loss of 62 million
Incense fluttering is not "incense"!
Selling a billion cups of fragrant fluttering a year is undoubtedly the "milk tea enlightenment" of many Chinese people. Someone on the Internet once launched the topic of "the first cup of milk tea in life", and 80% of the people in the comment area said that it was Xiangpiao.
In those years, Xiangpiao's scenery was indeed infinite. In 2012, it achieved sales of more than 2.4 billion yuan with a cup of milk tea alone, and in 2017, it landed on the capital market and became the well-deserved "first stock of milk tea". However, with the passage of time, the "first generation of Internet celebrities" in the milk tea industry is no longer "fragrant", and the decline has gradually emerged.
In the first half of 2020, Xiangpiaopiao handed over the worst report card since its listing: revenue of 991 million yuan, deduction of non-net profit loss of 92.5264 million yuan, and the profitability of the brand was also questioned. However, in the second half of the year, Xiangpiaopiao flipped against the wind, and finally the annual revenue of 2020 was 3.761 billion yuan, although it decreased year-on-year, but considering the impact of the epidemic, it was also considered to have escaped the disaster.
I did not think that the 2020 of the "national anti-epidemic" has passed, and in the relatively stable first half of 2021, the tragedy of Xiangpiaopiao was staged again, with half-year revenue of only 1.088 billion yuan and a net loss of 62.2564 million yuan, which is the worst half-year performance in addition to the epidemic.
In addition, xiangpiaopiao's market value is also "greatly discounted". In 2019, Xiangpiaopiao's market value once exceeded 15 billion, but as of January 18, the market value was only about 6.5 billion, and in just two years, the market value evaporated by nearly 9 billion yuan.
The first cup of milk tea of 2022
Why is it no longer Xiangpiaopiao?
Xiangpiaopiao's net profit has declined, and the market value has been slashed, is the tea industry "cold"?
According to the data, the mainland is the country with the largest global tea beverage consumption market share, the domestic tea beverage market size in 2021 is close to 470 billion yuan, and the stores of well-known tea brands such as Xicha, Naixue, Little Point, and Michelle Ice City are still in full swing, and the queue in winter has long become the norm. It can be seen that the domestic tea industry is not cold at all, but the warmth is not fragrant, or the wind direction of the market has long been blown from brewed milk tea to fresh milk tea.
According to the financial report data, from 2012 to 2020, Xiangpiaopiao won the crown of the cup brewed milk tea segment for 9 consecutive years with a market share of more than 63%. It is not difficult to find that Xiangpiaopiao's position in the brewed milk tea market is still the same, but brewed milk tea has gradually been abandoned by the times.
Although when the times abandon you, you may not even say hello, but under the relevant news of Xiangpiaopiao, you may be able to find the reason:
★ The brewed milk tea was too hot
★ Plant powder, high flavor, high sugar
★ Elementary school drinks, now who drink this powder punch stuff
★ Isn't it nice for me to buy a glass of Honey Snow Ice City for 5 yuan?
★ There are too many tricks in the milk shop, and there is no innovation
Under the crazy expansion of new-style tea drinking
Can big brother milk tea "rejuvenate" by rising prices?
Founded in 2005, Xiangpiaopiao is the "big brother" of the tea industry, and at its brilliant time, brands such as Heytea and Naixue's tea were established. However, there is never a seniority in the mall. Nowadays, the turnover and market value have long been unable to compare with the younger generations, is there still a chance to counterattack?
As we all know, the core audience of milk tea is the younger generation, and the reason why the tea of Xicha and Naixue can rise rapidly is to capture the preferences of young consumers. When fat reduction and 0 sugar became the focus, they launched freshly squeezed juice, low-sugar milk tea, oil sweet fruit became popular, successively launched the domineering jade oil orange, and then derived a series of products such as yellow skin fairy dew to interact efficiently with young consumers.
Unlike new tea drinks such as Hey Tea and Naixue Tea, which have stores, Xiangpiaopiao's terminal channels are mainly retail store shelves, which cannot interact with fans face-to-face, and it is difficult to increase user stickiness. Perhaps aware of the problem of development prospects, Xiangpiaopiao began the transformation of the brand.
The first step is to open up the ready-to-drink tea market. In April 2017, Xiangpiaopiao launched two aseptic filling liquid milk tea products, "MECO" milk tea and "Lanfangyuan" stocking milk tea, entering the liquid milk tea market; in July 2018, Xiangpiaopiao launched a new type of tea "MECO Honey Valley" juice tea products to open up the juice tea market.
The second step is to launch more products that are in line with the trend. In order to cater to the preferences of contemporary young people, Xiangpiaopiao has successively launched products with social and interactive attributes such as milk tea self-heating pot, milk tea freezer pot, and milk tea in the past two years, hoping to improve the occupancy in the hearts of young consumers.
The third step is to increase brand marketing efforts. According to incomplete statistics, Zhong Hanliang, Chen Weiting, and Wang Junkai were all once the "brand spokespersons" of Xiangpiaopiao, and a few days ago, the official Announced Wang Yibo served as the spokesperson of the new brand. In addition, Xiang Piaopiao is even more in "Tomb Raider Notes Restart", "This! It is to advertise in popular TV series and variety shows such as "Street Dance 2" to further expand brand exposure.
After making many efforts, Xiang Piao was mixed:
Happily, in the first half of 2021, the revenue of ready-to-drink products was 412 million yuan, accounting for 37.89%. Its Meco juice tea products have a good development momentum, and their favorability on platforms such as Douyin and Xiaohongshu is higher.
The worry is that self-heating and brewing new products have been criticized, and the self-heating pot of fragrant piaopiao milk tea has become the hardest hit area. It is reported that this product said to add 8 small materials, but for the younger generation, too much milk tea is a burden, "Spit Conference" player Pang Bo has publicly complained that "now the milk tea is like mixed with water dumplings."
In such a big environment, Xiangpiaopiao's official price increase may be a helpless move, but as Xiangpiaopiao said, "The price adjustment of some products may have a certain impact on the market share of the company's products, and may not necessarily make the company's profits grow." ”
However, today's tea industry is extremely competitive, and if the old brand does not make changes, it is only a matter of time before it is eliminated. As a former brother, Xiang Piaopiao can realize the crisis and transform when the brewing milk tea category declines, which can be seen in its unique vision and boldness. However, there are fierce enemies such as Xi Tea and Naixue's Tea on the outside, and the brand has not launched a strong new explosive model internally, and now the price-performance ratio after the price increase cannot beat the Honey Snow Ice City, and it is not easy to return to the peak.
From: Food, public information