After closing the last Beijing store, the dog shrugged back in Tianjin, saying he was "speechless" about negative comments from consumers.

A few days ago, the Beijing Qianmen store of dog buns was closed, plus the previous dog ignored buns Beijing Wangfujing store was disqualified from joining, according to the information on the official website of dog ignoring the group, there is no dog ignoring store in Beijing at present. This means that DogBuri Buns now has only one store in Tianjin.

Dog ignores the group officially told the Blue Whale financial reporter that the closure of the Beijing Qianmen store is because the store lease period has arrived, and it wants to renew but has not negotiated. The closure was caused by the expiration of the lease and not by other reasons. As for the other stores in Tianjin, they will continue to operate normally.

However, a well-known century-old brand in the country not only failed to successfully nationalize, but could only retreat from a corner of Tianjin, which is regrettable, and enterprises must reflect on why they ended up in such a bleak position.

The century-old brand is controversial

In fact, dogs ignoring buns have long been controversial. There are many consumers who complain on various websites and apps that dogs ignore buns that are expensive and unpalatable. As a long-established brand in Tianjin, dog buns were once a must-punch restaurant for people to travel to Tianjin, but "dogs do not pay attention to buns and regret it, and they regret it even more" and even become a "terrier" on the Internet.

For the evaluation of consumers, the dog does not pay attention to the group told the blue whale financial reporter that it feels "very incredible", "feel speechless", the dog does not pay attention to the bun and other 5 hair, 1 piece of bun is not the same, the dog does not care about the bun uses better raw materials, so the cost is not the same. Dogs ignore the old brand, using flour and meat that other restaurants can't match. You may not understand the current market situation.

At the same time, the Dog Ignore Group told the Blue Whale Financial Reporter that it felt that the media had reported that the dog was expensive and followed the trend, "People shout (what), they all shout (what)." "I hope the reporter can do a good job of market research, and the dog has done a lot of other good things, but no one has said."

In this regard, Chinese food industry analyst Zhu Danpeng questioned. Zhu Danpeng told the Blue Whale financial reporter that in general, the meat filling of a bun, in addition to the ingredients, etc., the content of the real meat is about 15-25g. If the current pork price is 30 yuan a catty, the price of 25g of pork is 1.5 yuan. If the price of beef is 60 yuan a catty, the price of 25g of beef is 3 yuan.

Zhu Danpeng has been calculated according to the higher market price, but large chain restaurants will inevitably buy at a lower wholesale price for bulk purchases, so the actual cost of meat filling is much lower than the above data. The menu of dog buns on the public review shows that beef buns are 16 yuan / piece, and traditional pork buns are 5.75 yuan / piece, even if other costs are removed, the buns sold by dog ignores still have a higher premium.

In addition, a local resident of Tianjin told blue whale financial reporters that he and his family, friends and other Tianjin locals basically do not eat dogs and ignore buns, "I feel like a pit tourist." At the same time, he expressed another doubt to reporters, he used to eat at the dog-not-ignored bun restaurant in Toronto, Canada, why foreign dogs ignored the bun is cheaper and more delicious.

Although there have been media reports that Dog Ignore is about to open a branch in North America, dog ignore group official answer to the Blue Whale financial reporter, saying that dog ignore group has not opened a store overseas, and now dog ignore shop is only opened in Tianjin city.

The new third board is listed and delisted, and the product may need to be innovated and upgraded

As a well-known traditional long-established brand in China, Dogbury is well-known at home and abroad, founded in the Xianfeng period of the Qing Dynasty, and has a history of more than 100 years, and the snack is the first of the "Three Absolutes of Tianjin". The project "Dog Bu Li Bao Zi Traditional Handmade Technique" was included in the national intangible cultural heritage list.

Tianjin Goubuli Food Co., Ltd., a wholly-owned subsidiary of Dogbury Group, was successfully listed on the New Third Board in 2015. However, five years later, in May 2020, it was announced that it would be delisted from the New Third Board.

According to previous financial reports, from 2015 to 2019, the performance of Dogbull Group has always been flat, of which revenue has been hovering around 100 million yuan, and when the net profit was the highest, it only reached 24.2458 million yuan last year; the gross profit margin also decreased year by year, 39.8%, 39.26% and 37.99% from 2017 to 2019, respectively.

In recent years, the reputation of dog ignoring has gradually declined. Zhu Danpeng told Blue Whale Financial Reporter that in fact, the new generation of consumers are not sensitive to price, but the dog ignores the bun not only the price and quality are not equal, but also the consumer does not recognize the brand, lack of brand "fans". It can be said that the dog ignores it is just "self-deprecating", relying on the old to sell the old, and does not really activate the brand value. Consumers also do not associate brand tonality, quality, quality service, etc. with dog buns in their minds.

Zhu Danpeng said that the dog ignores the current product may not be what consumers really want. Dogs can't ignore and can't keep the inherent "old formula", but must actively carry out product innovation and upgrading and iteration, conduct market research, and test what kind of taste consumers like, which is not difficult to do.

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This article originated from Blue Whale Finance