Another "+ Moutai" product is about to appear, can the wine heart chocolate copy the record of the sauce latte?
On the morning of September 14, Dove and Moutai both announced that the wine heart chocolate cooperation between the two parties will be launched on September 16. Immediately, the topic was on the top of the hot search, and just the night before, Moutai posted a message on Weibo, saying, "Kweichow Moutai x? Stay tuned for September 16" once aroused the speculation and attention of the market.
Official Weibo from Kweichow Moutai and Dove
On the Moutai ice cream mini program, some stores can already see the product information related to wine heart chocolate. Among them, the classic wine heart chocolate gift box is priced at 35 yuan/box for 2 pieces, 99 yuan/box for 6 pieces, and 169 yuan/box for 12 pieces; The price of 2 pieces of reduced sugar wine heart chocolate gift box is 39 yuan/box, the price of 6 pieces is 109 yuan/box, and the price of 12 pieces is 179 yuan/box.
Under the news of the official announcement, many netizens have shown their expectations for the product and commented, "Childhood memories, wine heart chocolate", "Dove you are so fashionable", "Dove is at the forefront of the trend", "Buy and buy must buy". Some netizens jokingly said, "Luckin's sauce latte has not yet been drunk, Dove's wine heart chocolate is coming, and Moutai is going to kill young people." ”
As of the noon close on September 14, Kweichow Moutai (600519. SH) fell 0.14% to 1817.31 yuan per share, with a total market value of 2.28 trillion yuan.
Can wine heart chocolate replicate the heat of a sauce-flavored latte?
Dove is a series of products launched by Mars in China. Founded in 1911 and headquartered in Virginia, Mars was one of the first foreign-funded food companies to enter China. Among the three major business units of Mars (Mars Wrigley, Mars Pet Care and Mars Food), Mars Wrigley is the largest business unit of Mars China, and consumers are familiar with Green Arrow Chewing Gum, Yida, Snickers, Dove, and M&M'S, all of which are brands of Mars Wrigley.
According to the official website, since the Dove brand chocolate in the Mars Wrigley Division entered China in 1993, the advertising slogan of "Indulge in Silky" and the classic image of Dove girls have been deeply rooted in the hearts of the people.
At present, China's chocolate market is absolutely dominated by international confectionery giants, and Mars Group, Ferrero and Hershey, the parent companies of Dove and Snickers, occupy most of the Chinese chocolate market. According to the iMedia consulting report, Dove, Ferrero, Snickers and other brands ranked in the "2021 China Chocolate Brand Ranking Top 15" are in the first echelon of market size, higher than other brands in terms of sales volume, while Lindt, Hershey, and Oreo are in the second echelon. Chinese brands such as Magic Kiss, Bainuo, and Xu Fuji are relatively low in the list.
Less than half a month after a succession, can this wine heart chocolate replicate the popularity of the sauce latte?
The joint coffee "Sauce Latte" launched by Kweichow Moutai and Luckin Coffee officially went on sale on September 4, priced at 38 yuan per cup and 19 yuan a cup after the coupon. On the day of the first launch, it was popular all over the Internet, and the single product sold more than 5.42 million cups in a single day, and the sales of the single product exceeded 100 million yuan.
On the fourth day after the start of sales, Luckin Coffee's official Weibo released the "Notice of Sauce Fragrance Latte Out of Stock and Restock". The notice said that sales were much more hot than expected, and the current supply of raw materials was insufficient, and most stores would be sold out this week. A new batch of 53-degree Feitian Moutai wine has been urgently purchased from Kweichow Moutai, and suppliers have been organized to produce urgently, and the finished products will be urgently delivered to stores. In addition, Luckin also pointed out that the sauce latte is a strategic long-term item jointly launched by Luckin Coffee and Kweichow Moutai, and will be sold for a long time.
"Overall, it is expected that the amount of cooperation between the two sides will not be very large, but the significance is still good. In terms of price, it is expected that the price of a single wine heart chocolate may be around 20 yuan. Zhu Danpeng, an analyst in the Chinese food industry, told The Paper that "the launch of wine heart chocolate may be more a gift attribute than a consumption attribute." The internationalization of Moutai actually began very early, and it should not be a problem for this product to be sold for a long time like a sauce latte. ”
According to a report released by iMedia Consulting, in recent years, as the confectionery industry has been seriously affected by the trend of sugar reduction and consumption upgrades, chocolate consumption has shown a single-digit slow growth trend. The demand of young people for personalized consumption is more prominent, and they pay special attention to innovative chocolate forms, tastes and forms, which will profoundly affect the consumption pattern of the chocolate industry.
Zhu Danpeng previously pointed out to the surging news reporter that at present, the FMCG industry has entered a highly homogeneous and involuted node, and co-branding can make enterprises more differentiated and have advantages in traffic, "It is true that many head companies have a strategy to open co-branding, but behind the co-branding is the business philosophy and long-term adherence to it, not that one or two such one-hammer transactions can make the brand younger." ”
What is the impact on Moutai? Accelerate the international layout and form a matrix of characteristic products
In recent years, Moutai, which is keen on crossovers, launched Jiuxin Chocolate is not an accident.
On May 29, Ding Xiongjun, Secretary of the Party Committee and Chairman of Moutai Group, announced at the anniversary celebration of the listing of Moutai ice cream that in addition to continuing to cultivate the existing 6 Moutai ice cream products based on the price band of 29 yuan, 39 yuan, 49 yuan, 59 yuan and 66 yuan, it is also necessary to increase the research and development of wine heart chocolate, alcoholic drinks, sticks, soft ice, etc., and establish a product matrix of different types, different prices and distinctive characteristics.
The "Big Mac" Kweichow Moutai, with a market value of more than 2 trillion yuan, has repeatedly leaned over to more industries in recent years, in addition to "liquor + coffee", the most popular is Moutai ice cream. In May last year, when the "i Moutai" digital marketing platform was launched, the first flagship store of Moutai ice cream was also opened, and the price of original Moutai ice cream and vanilla Moutai ice cream was 39 yuan per serving, and now Moutai ice cream has been updated with 11 flavors and 3 product forms. Data show that this year, Moutai ice cream still maintains a growth trend, with a total sales of nearly 10 million cups.
In addition to the above-mentioned coffee and ice cream, some media reported that in Moutai ice cream stores, some stores have developed ice and desserts containing Moutai wine, for example, Moutai ice cream Shenyang store launched Moutai bubble tea; Shenzhen store has Moutai fruit tea; At the same time, the Qingdao store has cakes containing Moutai ice cream, and also launched cultural and creative products, including a small Mao mascot for 99 yuan, a single logo badge for Kweichow Moutai for 50 yuan, and a blind box figure or key chain for 79 yuan. In 2022, Moutai Cultural Tourism Company has launched more than 10 Moutai cultural and creative products, contributing an output value of nearly 600 million yuan to Moutai Group.
While "baijiu +" has become a marketing method, it has also become the direction for liquor companies to seek new growth points.
From the perspective of the revenue brought by Moutai ice cream to Kweichow Moutai, Ding Xiongjun revealed at the 2023 annual market work conference in December last year that Moutai ice cream is expected to achieve revenue of 262 million yuan in 2022. According to Kweichow Moutai's 2023 half-year report, the revenue of hotel business and Moutai ice cream business was 220 million yuan.
For Kweichow Moutai, which has a revenue of more than 100 billion yuan a year, the sales brought by cross-border may only be a drop in the bucket, but it can expand the cultural influence of Moutai. Whether it is sauce latte or wine heart chocolate, it is part of Moutai's product matrix.
Chinese food industry analyst Zhu Danpeng told The Paper that Dove brand has a large mass base in the world's popularity, reputation and trust, and the cooperation between Moutai and Dove is a very important starting point and focus for Moutai's internationalization, especially in China, Asia and North America.
Cai Xufei, a liquor analyst and general manager of Zhiqu Consulting, previously told The Paper that cross-border use of Moutai's strong brand premium and endorsement role to enhance brand value and empower related industries and products. From this point of view, Moutai is very likely to further expand sales categories based on the needs of young consumer groups, integrate project resources including food, entertainment, tourism and other projects, and achieve the goal of diversified operation of enterprises.
On August 2, Kweichow Moutai disclosed its semi-annual report for 2023, achieving revenue of 69.576 billion yuan in the first half of the year, a year-on-year increase of 20.76%, higher than previous expectations; The net profit attributable to shareholders of the listed company was 35.98 billion yuan, a year-on-year increase of 20.76%, higher than the previous expectations; Basic earnings per share were 28.64 yuan. According to the net profit of 35.98 billion yuan, Kweichow Moutai earned an average of 198.8 million yuan per day in the first half of the year (181 days).