Praised by CCTV, Xinjiayi convenience store entered the county market, and instant retail achieved remarkable results.
Editor: Boya
出品：零售商业财经 ID：Retail-Finance
"Retail Business Finance" has learned that in 2024, Hunan's local brand convenience store "Xinjiayi" will fully focus on the real-time retail scene, and at the same time take the lead in the county-level consumer market, successively entering many county-level cities such as Xinhua, Liuyang, Leiyang, Taoyuan, Changning, Pingjiang, Miluo, Lengshuijiang and other county-level cities in Hunan, and expanding to Hubei and Xianning.
Relevant data show that Xinjiayi's online channels account for 16%, accounting for 57% of the market share of Ele.me Hunan convenience stores and 36% of Meituan's Hunan convenience store market share.
In addition, Xinjiayi serves consumers in the surrounding 1-5 kilometers community with a single store, the operation logic of large flow + high conversion, and the efficient supply chain system to ensure the freshness and stability of goods, and quickly occupies a place in the county market.
Obviously, Xinjiayi, which plays the role of the "capillary" of urban life, is rapidly joining the new battlefield of the sinking market, and relying on a strong supply chain and mature operation model, it meets the full-time and multi-scene shopping needs of consumers in a way that expands the business boundary, from convenience to convenience, and helps build a "quarter-hour convenient life circle".
01 Instant retail "wind rises"
The competition in the retail industry is becoming increasingly fierce, and with the stock game of the consumer market in first- and second-tier cities replacing the growth dividends of the past, more and more retail enterprises are turning their attention to the broader third- and fourth-tier cities, and the economic potential of the county market is gradually released, and the consumption capacity is further enhanced.
At the same time, instant retail continues to heat up in the county market. According to data from the Meituan Research Institute, in 2023, the order volume of county-level instant retail across the country will increase by about 40% year-on-year, and the number of merchants and consumers will also increase, and the year-on-year growth rate will remain above 25% in 2023.
Obviously, the convenience and high efficiency of instant retail have become an important engine for the rapid expansion of retail enterprises in the county market, and more and more supermarket brands have also joined the team of instant retail, and convenience stores, as the "capillaries" of urban life, have also taken the tuyere.
According to the "2023 China Convenience Store Development Report" jointly released by the China Chain Store & Franchise Association and KPMG, more than ninety percent of convenience stores have opened online business in 2022, of which online business sales accounted for twice that of 2021.
Source: "2023 China Convenience Store Development Report"
Convenience stores have taken advantage of the digital "east wind" of instant retail to open up online and offline omni-channels, reduce costs and increase efficiency, improve refined operation capabilities, and expand wider business coverage and serve more user groups, so as to achieve both sales and user growth.
Peng Jianzhen, president of the China Chain Store & Franchise Association, said that instant retail has provided a new channel increment for offline physical supermarkets. In the face of the trillion-yuan blue ocean of instant retail, manufacturers and retailer platforms that are moving forward need to continue to explore the optimal solution for cost, efficiency and consumer experience, so as to better seize this new blue ocean full of opportunities.
There is no doubt that the tide of instant retail has arrived, and more and more merchants have tasted the sweetness from it, which is one of the important reasons why Xinjiayi chooses to take advantage of the east wind of instant retail and take the lead in the county consumer market.
02 New Jiayi "Evolution"
"Retail Business Finance" learned that this year, relying on a strong supply chain and mature operation model, Xinjiayi has fully developed the real-time retail scene, preemptively laid out and occupied the county-level consumer market, and successively entered many county-level cities such as Xinhua, Liuyang, Leiyang, Taoyuan, Changning, Pingjiang, Miluo, Lengshuijiang and other county-level cities in Hunan, and expanded to Hubei and Xianning.
Source: Brand
The essence of instant retail is retail takeaway, and if you want to seize the opportunity of instant retail dividends, you need to make adjustments in terms of goods, services, marketing, digitalization, etc., and at the same time leverage the platform to better adapt to the evolution of the environment.
Xinjiayi's approach to taking advantage of the "east wind" of instant retail digitalization is to use digital means to improve efficiency, place orders online, and deliver them offline within 30 minutes, so that consumers can get a more efficient and convenient shopping experience.
Relevant data show that Xinjiayi's online channels account for 16%, accounting for 57% of the market share of Ele.me Hunan convenience stores and 36% of Meituan's Hunan convenience store market share. As instant retail continues to heat up in the county market, the number of orders will increase in the future.
Source: Brand
At the same time, Xinjiayi pays attention to the night-time economy, and the stores are open 24 hours a day, responding to users' instant shopping needs around the clock.
In terms of commodities, instant retail has entered the stage of full-category development, and while expanding and increasing the number of SKUs, Xinjiayi has launched differentiated products that are also deeply loved by consumers. According to the data, the daily sales of fresh milk and yogurt in Xinjiayi exceeded 1,100 yuan, the daily sales of breakfast and roasted sausages exceeded 1,500 yuan, and the daily sales of coffee, tea, alcohol and other products exceeded 2,000 yuan.
Source: Brand
In tourist cities like Liuyang, stores keep up with consumer trends, and also equip tourists with selfie sticks, mobile phone holders, Hunan specialties, etc., to provide a more extreme user experience, from "convenience" to "convenience" one step closer.
It is the core of the rapid growth of instant retail to help facilitate the people's life circle in a quarter of an hour, strengthen the construction of a "half-hour online life circle", realize the expansion of "all categories", and meet the consumption needs of "multiple scenarios".
It is reported that Xinjiayi serves consumers in the surrounding 1-5 kilometers community with a single store, with the operation logic of large flow + high conversion, and an efficient supply chain system to ensure the freshness and stability of goods, and quickly occupy a place in the county market.
Source: Brand
Wu Minyi, the founder of Xinjiayi, once said that convenience stores must meet the high-frequency and rigid needs of consumers with the greatest stickiness, even if it is a small demand as long as you can remember it at any time, no matter what time it is in the morning, in Xinjiayi, it is always on and waiting for you warmly.
In the face of the trillion-dollar blue ocean of instant retail, Xinjiayi has achieved good results in the continuous development of third- and fourth-tier cities and the activation of new momentum for county-level consumption, which provides a strong proof for the sinking trend of the retail industry and promotes the steady development of new formats of instant retail.
"All resources should be put into the things that do not change. "Based on the long-term thinking strategy of Amazon founder Bezos, we see that more and more retailers are running out of instant retail "acceleration" by seizing platform dividends, policy dividends and trend dividends.