<h1>Century-old brand Quanjude</h1>
The formation of the century-old brand's Quanjude stemmed from a fortuitous encounter.
In 1834, the 14th year of Qing Daoguang, Yang Quanren, the founder of Quanjude, was 15 years old at the time, because of the flood in his hometown of Hebei, he came to Beijing to make a living, and set up a stall on Qianmen Avenue to sell chickens and ducks for a living.
30 years later, the middle-aged Yang Quanren used the money plate of those years to do small business under a dried fruit shop called "Dejuquan", planning to use it as a roast duck shop, and when it opened, the three words "Dejuquan" were reversed according to Mr. Feng Shui's words, and the first "Quanjude" roast duck shop in history was born.
At that time, the imperial figure fusheng at the foot of Tianzi, the food was like a cloud, and the "Dejuquan" was launched, and it was immediately submerged in a large number of well-known food brands.
Later, Yang Quanren invited Master Sun, who was once a roast duck in the imperial dining oven, to his own shop, and with the blessing of the imperial chef, Quanjude's reputation of "Jingshi beautiful food, mo is better than duck" was quickly like spilled water.
In 1890, Yang Quanren died, and his son Yang Qingmao took over Quanjude. In 1930, before Yang Qingmao died, he handed over Quanjude to Li Ziming.
At the beginning of Li Ziming's tenure, because of the expansion of the storefront, Quanjude still had a lot of debts at that time, so he came up with a way to use duck tickets to pay off debts, just like the shopping card of China Resources today, duck tickets soon became gifts that people in Beijing earned each other during the New Year's Festival, three years later, Li Ziming paid off all debts, and Quanjude soon surpassed the old-fashioned cheap shop and became the first roast duck shop in Beijing.
After the founding of New China, Quanjude became a public-private partnership enterprise.
At that time, Quanjude's most famous "salesman" was the beloved prime minister, who had hosted foreign guests in Quanjude 27 times, and Quanjude's reputation was growing day by day, becoming a holy place for many people who traveled to Beijing.
In 1993, China Beijing Quanjude Roast Duck Group Company was established, and Quanjude, with a history of more than 100 years, has also formed a Quanjude cuisine represented by roast duck, which integrates "whole duck seat" and more than 400 famous dishes.
In 2009, Quanjude was listed on the A-share market, and Quanjude, which entered the capital market, gained new development, but unfortunately the good times did not last long.
<h1>Quanjude couldn't sell</h1>
From the A-share listing in 2009 to 2012, Quanjude's performance in terms of performance and stock price was extremely charming.
But then, quanjude's development was suddenly frustrated.
First, around 2012, after the central government explicitly restricted official consumption, the proportion of public funds spent in Quanjude decreased significantly, and tourist consumption supported Quanjude's income, but after all, the money they spent knew that they were distressed, and Quanjude's income began to stagnate.
Second, in 2013, there was a rare outbreak of avian influenza in China, which affected Quanjude's loss of 30 million yuan that year.
In the years since, Quanjude's revenue and profits have not increased significantly, and the former king of roast duck has fallen to the altar step by step.
According to Quanjude's financial reports in recent years, from 2012 to 2017, Quanjude's operating income was RMB1.944 billion, RMB1.902 billion, RMB1.846 billion, RMB1.853 billion, RMB1.847 billion and RMB1.86 billion, and net profit was RMB166 million, RMB122 million, RMB138 million, RMB143 million, RMB150 million and RMB136 million, respectively. Revenue and net profit have hardly changed much, falling into growth stagnation, and the 2 billion revenue mark expected by investors has become an untouchable target.
According to the financial report for the third quarter of 2018 released on October 19, Quanjude's third-quarter revenue was 487 million yuan, down 6.33% year-on-year; Net profit was approximately RMB0.51 billion, down 10.70% from the same period last year.
Why can't the century-old Quanjude sell?
<h1>From the duck king to the fall of the altar, Quanjude used these steps</h1>
So, why can't Quanjude's roast duck sell?
First of all, the price is too expensive, and the service fee is so reasonable.
Usually the roast duck in the roast duck shop sells dozens of pieces to more than 100 pieces, but quanjude's roast duck often charges two or three hundred, two or three people will eat, and it is best to consume hundreds of large pieces for a meal. Moreover, in addition to the high unit price, there is an additional 10% service charge, which is simply unattainable for the average working class.
Secondly, with the improvement of people's living standards, everyone's choice of cuisine is more diversified, and the roast duck that only beats the tooth festival has become a greasy, relatively single unhealthy food, and the number of patrons is relatively reduced, and it is naturally more difficult to expand market share.
In addition, some well-known roast duck shops continue to strengthen the service experience, and in some aspects, the appeal has caught up with or even surpassed Quanjude.
For example, the Cheap Fang Roast Duck Shop, which is longer than the history of Quanjude, the Dadong DADONG Roast Duck Shop founded in 1985, the Four Seasons Minfu Roast Duck Shop, which is more suitable for the tastes of young people, and the Big Duck Pear Roast Duck Shop, which consumes less than 80 yuan per capita, etc.
Finally, the transformation of Quanjude in these years has not been successful.
In the face of the challenges of peers and the times, Quanjude has also tried to transform. In 2016, Quanjude tested the water takeaway business and launched the takeaway platform "Little Duck Brother", however, the expensive price and poor reputation of the taste made it impossible to compete with Meituan and Hungry, and "Little Duck Brother" ended without a problem after a year of launch; in early 2017, Quanjude was also ready to acquire Beijing Tangcheng Small Kitchen and planned to enter the casual catering brand, but in the end, the cooperation was abruptly stopped.
Although it is said that after years of ups and downs, Quanjude itself has gone beyond the scope of a restaurant, and more as a historical and cultural value, if the golden signboard is not returning customers, it will eventually be dull.
Now it seems that in addition to the system and mechanism, as a long-established catering enterprise, Quanjude should feel the real value-added service while the guests experience the food, only in this way can the golden signboard be familiar with the way of attack and defense, and make progress with the times.
Author: E-commerce Jun