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- Chief Business Intelligence
- Chief Business Intelligence
Introduction: Taier sauerkraut fish, which lowers its body, still does not please customers.
Taier Sauerkraut Fish, which once shouted out unique store rules such as "waiting for two hours, no reception for more than four people", "no table sharing, no additional seats, no takeaway", etc., did not take a few years, but the flag set was slapped in the face by reality.
Although he risked slapping himself in the face and was ridiculed by netizens as "where is the unruly Taier", this "top sauerkraut fish" must also "judge the situation".
Nowadays, in the catering market full of "poor ghost packages", Tai Er, who was once domineering and arrogant, has to bow his head and accept the reality, because consumers will not always get used to you, and the capital market will not buy it.
Plummeted by nearly 70%! Both performance and stock price dived
The birth of Taier sauerkraut fish can be said to be a clear stream in the catering industry.
As a service industry, others do their best to meet the needs of customers unconditionally. But the main thing about Taier sauerkraut fish is a "rebellion", not allowing guests to choose dishes, only one kind of fish, only one kind of spiciness, more than four people are not accepted for meals, and they can't be taken out......
And as a pickled cabbage fish specialty store, it even shouted the slogan "sauerkraut is better than fish", in short, how to be alternative.
Therefore, relying on this "maverick" personality, Taier should have become the "top-rated" Internet celebrity restaurant at that time, and a group of diners waiting for a number would gather in front of the restaurant every time the meal was ordered, and it was the norm to queue for 2 or 3 hours.
At the peak of 2019, the turnover rate of Taier sauerkraut fish even reached 4.9 times per day, which dried up Haidilao, and it deserved to be the top Internet celebrity in the catering industry.
It's just that it is not easy for Internet celebrities to become popular, and this law also applies to Taier.
Now this old catering Internet celebrity, its top scenery is long gone, and there is no longer a queue in front of the store.
According to Jiumaojiu's second-quarter operating performance announcement, in the three months ended June 30, the turnover rate of Taier (self-operated stores) was 3.6, while in the first half of 2023, the figure was 4.3.
Consumers' "voting with their feet" is also reflected in the performance of Taier sauerkraut fish.
On July 19, Jiumaojiu, the parent company of Taier Sauerkraut Fish, announced a "profit warning", which is expected to have a revenue of about 3.064 billion yuan in the first half of 2024, an increase of about 6.4% year-on-year, and a year-on-year increase of 51.6% in the same period last year; It is estimated that the net profit attributable to the parent company will not be less than 67 million yuan, a sharp decrease of no more than 69.8% year-on-year.
Net profit expectations plummeted in the first half of the year, and Jiumaojiu handed over a dismal profit police announcement.
Although Jiumaojiu did not mention Taier sauerkraut fish as the reason for the sharp decline in profit expectations in the first half of this year, it can be found that from 2020, Taier's contribution to Jiumaojiu's revenue has always remained above 70%.
Therefore, the performance of Jiumaojiu this year has declined, and the Taier brand, as the main force, has undoubtedly become one of the "drag oil bottles".
After the announcement of the results, Jiumaojiu's already poor stock price fell in response.
Following the share price fell 10.26% on July 22, it continued to decline on July 23, as of the close, Jiumaojiu reported HK$2.92, down 4.58%, with a total market value of HK$4.128 billion, and the company's share price has hit a new low since listing.
Therefore, Jiumaojiu's sense of urgency is not groundless.
In order to conform to the consumption trend and re-attract customers, Taier Sauerkraut Fish has launched a series of vigorous price reduction promotions.
Its per capita consumption has been decreasing year by year, from 80 yuan at the peak to 75 yuan in mid-2023, and this figure has further dropped to 69 yuan in the second quarter of this year.
It fell to the beginning of the figure 6, returning to the price level of 7 years ago.
The price of a single bowl of rice has also been adjusted from 5 yuan to 3 yuan, and it has also carried out preferential promotions on the e-commerce live broadcast platform, launching a 9.9 yuan poor ghost package.
It can be seen that under the fierce price war, the catering giants have also been forced into a corner, and the rebound of consumer price sensitivity has made the price of catering begin to "get out of control".
After the first axe carried the banner of "price war", the second axe was to eliminate the sub-brands that did not contribute much to the group and had no merit.
On April 19, Jiumaojiu suspended its light luxury Cantonese cuisine brand "Uncle Nawei is a chef", and the brand information has been deleted from the official website.
Jiumaojiu Group's "Latest Operating Performance in the First Quarter of 2024"
In fact, as early as 2021, Jiumaojiu closed all its Sichuan cold pot skewer stores.
Later, in June 2022, Jiumaojiu sold 80.85% of the shares of the pancake brand "2 Egg Pancakes" at a low price of 509,400.
In all kinds of cases, it is the highlight moment that has been abandoned by both consumers and capital and cannot be returned...... Taier sauerkraut fish can only reluctantly tear off the label under the halo of Internet celebrity, and gradually open takeaway and six-person tables.
But judging from the performance in the first half of this year, why has Taier become cheaper and more pragmatic, but fewer people are eating?
"Sauerkraut Fish Brother" eats its own "evil fruits"
In the final analysis, Taier sauerkraut fish can't go back to the top position, in addition to the cost-effective environmental impact, but also the problem of Taier sauerkraut fish itself.
On social platforms, there are many bad reviews about Taier sauerkraut fish, and most of them are inseparable from the keywords "not cost-effective", "too expensive", "no novelty", and "unpalatable".
"As an ordinary consumer, I won't eat Taier anymore, not only because of aesthetic fatigue and never new, but also because the cost performance is not high, the same business district, the same price, too many choices."
"Taier is a bit expensive, and the taste is not much better than other sauerkraut fish."
It stands to reason that the unit price of Taier sauerkraut fish is not low and it is not a matter of one or two days, but now it has been criticized, so that consumers have such a big opinion on it, because its products cannot support its high price.
As we all know, the reason why Taier sauerkraut fish can't choose the spiciness, and the speed of serving is because it is a prefabricated dish.
Or, in the parlance of the industry, a high degree of standardization.
It is precisely because of the high degree of standardization that the turnover rate of Taier sauerkraut fish at the peak of the early stage was once close to the number of 5.
At a time when everyone's resistance to pre-made dishes is so high, Taier sauerkraut fish has undoubtedly stepped on the thunder point, and more importantly, it is not cheap.
After all, no one complains about the "rice village bibimbap", which is also a player of prefabricated dishes, and it is overcrowded every time it eats, and 480 new stores will be opened in 2023.
In the rice village bibimbap, there are vegetables, meat, soup and carbs, the amount is full, the price is less than 30 yuan, and the rice can be refilled indefinitely, spicy cabbage, sea cabbage mixed with side dishes are provided for free, and the kelp soup is enough, so I asked who could refuse.
However, in Taier Sauerkraut Fish, I spent hundreds of yuan to eat a pre-made meal, but I still couldn't eat enough, and there was no other choice if I wanted to eat something else, so consumers were naturally unhappy.
Large quantities and affordability are the core, just like the "poor ghost restaurant" Saizeriya makes a lot of money, because they match the current consumption needs of the public.
What's more, the "price reduction" mentioned by Tai Er is actually accompanied by a decline in quality.
Take Wuchang rice, which has been reduced in price, for example, some consumers say that the current rice is not as amazing as before, and it is harder.
Even the popularity of the signature pickled cabbage fish is declining:
"Reduce the amount without increasing the price, increase the price in disguise", "The earthy smell is too big", "It's not as delicious as before, and the fish is not hot on the table", "I can't eat a few pieces of fish as a girl"......
In addition, the rise of prefabricated dishes is also squeezing the market for Taier sauerkraut fish, and on the e-commerce platform, there are many choices of prefabricated sauerkraut fish, and the sales are not low.
Ding Ding Lazy Food, established in 2020, is the main sauerkraut fish prefabricated dishes, and in 2021, it will become "China's No. 1 sauerkraut fish prefabricated dishes on the whole network", and in 2022, the sales of the whole network will exceed 800 million yuan.
In addition, the price of sauerkraut fish prefabricated dishes of twenty or thirty yuan is much cheaper than that of Taier sauerkraut fish, and the taste is similar.
In this regard, not many people are willing to queue up for a meal of expensive sauerkraut fish.
Therefore, freezing three feet is not a day's cold, which seems to be accidental, but it is actually inevitable.
Internet celebrities are difficult to become popular
Founded in 2015, Taier Sauerkraut Fish is actually Jiumaojiu, which is mainly engaged in Shanxi noodles, faced with traffic anxiety and began to develop a sub-brand.
As a result, I didn't expect that this sub-brand was too powerful, and it surpassed "Jiumaojiu" in just 5 years and became the first brand of Jiumaojiu Group, as well as the "backbone" of the group's performance.
Therefore, Jiumaojiu, who has tasted the sweetness, is "addicted" to the deck and tries to find a new growth curve for the group.
It's just that Jiumaojiu also made it clear in the prospectus that there are risks in cultivating new brands, which shows that although Taier has become a sub-brand "myth", it is difficult for Jiumaojiu to copy another "myth".
The rise of Taier sauerkraut fish has the factors of the right time, place and people, and Taier has played a differentiated role, so it took advantage of the trend, and it easily became popular and became an Internet celebrity brand.
In 2020, Guan Yihong, the founder of Jiumaojiu, once said, "There are very few brands in the catering market that have lasted for five years. ”
But now, Taier sauerkraut fish seems to be gradually weak, the word Internet celebrity is getting farther and farther away from it, and Jiumaojiu is once again facing traffic anxiety.
Founded in 2004, the "Green Tea" restaurant has also become an "outdated" Internet celebrity, the high turnover rate is no longer beautiful, and the store opening plan has been continuously failed, 3 times on the market 3 times without success, and in the near future it is ready to hit the fourth listing, but the chance of winning is not great.
After all, the green tea restaurant is still facing a strong opponent at the moment - Xiaocaiyuan, the number of Xiaocaiyuan stores and performance of the rising star Xiaocaiyuan are growing rapidly, and the brand strength should not be underestimated.
In any case, the catering market is highly competitive, and as a catering brand with 30 years of deep accumulation, whether Taier Sauerkraut Fish can become strong again in the current predicament still needs to be answered by time.
Would you still eat Taiji sauerkraut fish? What do you think about this? Welcome to leave a message in the comment area to discuss and express your opinions or opinions, thank you.
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