Source | CEO Brand Watch (ID: new_shop_)
Author | W
Header image source | Visual China
At present, consumers' health awareness is increasing, which also affects the tea industry to continue to iterate in the direction of low sugar, low fat, pure and natural. In recent years, the large item "coconut" has received extensive attention from the beverage industry, and many tea brands and coffee brands have applied it to product development, and brands focusing on coconut drinks have continued to emerge.
Won three rounds of financing
An emerging coconut water brand
Recently, the ready-made coconut water chain brand "Good Luck Coconut LuckHaHa" announced that it has completed three rounds of financing, with a cumulative financing amount of tens of millions of yuan, including channel and supply chain stakeholders, well-known media personalities, financial personnel, Qifeng K2VC and Tongshan Investment.
Good Luck Coconut was founded in late 2021, but the first store only debuted in August of the following year. It is understood that one of the brand's stores is opened in the Sanlitun 3.3 Building, which impresses consumers in a unique form of takeaway stores.
At present, including the stores to be opened, Haoyun Coconut has 21 stores in Beijing, 90% of which are located in shopping malls, focusing on small area stores of 15-50 square meters, and adopting direct and joint operation business models to bring stores with simple design and fresh style to consumers. It was also revealed that Good Luck Coconut plans to enter Shanghai, Shenzhen, Hefei and other cities next.
Adhering to the brand concept of "pure, happy and healthy", Haoyun Coconut has created more than 20 products such as "fresh coconut water", "mellow coconut milk" and "coconut coffee" with coconut water as the carrier, with prices ranging from 25-32 yuan. According to the official introduction, its selection of Thailand's most ripe perfume coconut in July and August, directly picked to the warehouse/store to open the coconut to make, retaining the best state of coconut "sweet / fragrant & taste".
Among them, the brand's first pink coconut green water has become a popular product well received by consumers because of its rich aroma, sweet taste and high appearance of natural powder. In addition to drinks, Good Luck Coconut also offers snacks such as toasted coconut crispy cubes and coconut custard.
In order to make coconut water a more representative of the quality of life of daily beverage choice, Haoyun Coconut also enters different urban spaces in a variety of ways, establishes emotional connections with young consumer groups, and creates a healthy living experience with different brands.
For example, the collaboration between Good Luck Coconut and "Vitality Forest" launched a limited-time pop-up photo campaign in Sanlitun, and brought the 2023 New Year limited series drink "Blessed Coconut "; Collaborated with Beijing coffee brand "Morning and Evening ZAOWAN" to jointly launch fresh coconut drinks including coffee and alcoholic beverages; Cooperate with Beijing F3 Frisbee Club, Neptune Frisbee Club, etc., to hold frisbee activities...
The subdivision track continues to expand
In fact, specialty stores that focus on making coconut tea are not only good luck coconuts, but also some tea specialty shops that make "coconut" large items in many cities.
In Shenzhen, established in 2020, "Coco Coco" focuses on fresh coconut water, launching a series of ready-made tea drinks based on coconut water and coconut milk and pre-packaged ready-to-drink coconut water. Since its establishment, the brand has obtained two rounds of tens of millions of financing, and currently has more than 20 offline stores in Shenzhen, Guangzhou, Nanning and other places.
Also from Shenzhen, "Cha Da Ye" was founded in 2021, focusing on coconut and tea, based on the characteristics of coconut and returning to the essence of tea, creating a new category of "coconut tea", which currently has 20+ SKUs. In less than 2 years, the brand has intensively opened 60+ stores, and it is expected to expand to 300+ stores in 2023. In October last year, Cha Dayi completed nearly 10 million yuan of financing invested by Qingteng Culture.
Beijing's "Cococean" was founded earlier, initially only for coconut jelly takeaway, later developed drinks and desserts such as coconut water, and opened its first offline store in Sanlitun in March 2019, transforming it into a new tea brand with coconut water as its brand. At present, Cococean has opened 25 stores in Beijing and Shanghai, bringing consumers fresh coconut water, coconut yogurt, coconut flavored snacks and other products.
Founded in 2020, although "Coconut Buji" is a Ningbo brand, its first store was opened in Zhengzhou. Its main products such as coconut egg, coconut jelly, coconut green water, coconut milk and other products, the average unit price of customers is more than 20 yuan. At present, the brand has laid out more than 200 stores nationwide through direct operation + franchise.
In addition, there are "whole coconut coconut", "coconut bouncing", "shelled super coconut water" from Changsha, "mouth coconut" from Anhui, "X-YES! xun coconut" from Nanjing, "coconut ji の水" from Chengdu, etc., all trying to make differentiated products around coconut.
According to the "2022 Tea Beverage Development Report" jointly released by Meituan Food and Kamen, coconut tea specialty stores increased by 66.5% year-on-year in 2022. However, through observation, we can also find that these coconut tea specialty shops are mainly regional brands, and there are few players who run through the country, and monopoly unicorns have not yet appeared.
Make a fuss about coconuts
If the increase in new players has made the coconut tea market lively, then driven by brands such as Heytea and Luckin, the tea and coffee industry is even more "coconut wind". More and more tea and coffee brands are choosing to use recognizable coconut in various ways in the development of new products.
In August 2020, Heytea launched a series of raw coconut drinks, which for the first time applied raw coconut (raw materials made from raw coconut water and coconut pulp) to the field of new tea drinks, setting off a boom in the market. The following year, the brand applied raw coconut to the coffee field and launched a series of raw coconut coffee drinks, bringing consumers a unique coffee drink experience.
In April 2021, after Luckin launched the raw coconut latte, coconut has further become the "traffic password" of the tea and coffee industry.
Luckin's raw coconut latte, which blends coffee with coconut meat and coconut water, has sold more than 300 million cups in two years since its launch. Last year's co-branded product with Coconut Tree, Coconut Cloud Latte, also achieved good results. From raw coconut latte to raw coconut family, the birth of raw coconut series products has made Luckin taste a lot of sweetness.
According to Kamen's "2022 China Beverage Industry Product Report", coconut usage frequency ranked first among the 40 tea brands sampled, and 92.5% of brands launched new coconut element products. Today, there are still many brands that are launching new coconut element products.
In addition, pre-packaged coconut consumer brands are also attracting attention.
For example, the coconut lifestyle brand "Cocoa Full Score", which entered the market with "sugar-free coconut milk", has expanded coconut products into the field of snacks and personal care, completed five rounds of financing in three years since its establishment, and achieved sales of 150 million yuan in 2022, an increase of nearly 5 times over 2021; "Coconut Know", which focuses on retail channels, innovated 0 sugar fresh coconut water products, and achieved more than 1 billion exposure in 2022 through channels such as Douyin; "Fino", which started from the B side, is well known to the public because of Luckin's raw coconut latte, and has also turned to the C side to launch coconut-based products that can cover more consumption scenarios.
As a pure natural plant-based beverage, coconut is deeply rooted in the concept of healthy tea drinking. With the continuous emergence of coconut drinks and the improvement of consumers' awareness of coconut drinks, the coconut beverage industry will also move towards quality and specialization.
It should be noted that on this subdivision track, although the gameplay is rich and the product iteration space is large, the risk of homogeneous competition still exists. And with the widespread use of coconut elements, the support capacity of the supply chain is also a priority for brands to solve. Recently, Louis Vuitton × Kusama Yayoi collaboration series Drop2 latest pop-up store unveiled in Guangzhou, what are the highlights of this pop-up space? What is the difference with the same Pop-up in Hangzhou Tianmu and Siam Paragon in Thailand? Let's take a look together~
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