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why can some brands grow faster than others? What drives their rapid growth? What innovations and changes have they made?
Since 2017, the growth black box will release “annual Top 10 growth strategies” every year based on the research of the past year, trying to summarize the ideas that can be copied and implemented for everyone, including our own practical tactics.
However, the problems that can be solved at the tactical execution level are limited after all. We hope to go further and bring more valuable insights to entrepreneurs.
So in 2020, after studying and visiting nearly 100 consumer retail enterprises, we decided to think about several deeper and more essential questions: why can some brands grow faster than others? What drives their rapid growth?
Among them, there are not only young and cutting-edge brands, but also traditional brands that have made innovations. We call these brands that have achieved explosive growth new species.
Next, combined with the observation and thinking of the growth black box research team in the past year, I will use data and cases to explain the eight characteristics of new species with rapid growth
1. Select incremental track
2. High speed updating and iteration
3. Pay attention to the improvement of appearance
5. Internalized division of functions
6. Create massive digital content
7. Building Omni channel contact
8. Deep mining and application data
If the consumer market is compared to an ecosystem, then every enterprise is a species. If new species want to integrate into the ecosystem and reproduce, they must find a niche, that is, choose the track. Jungle, sky or sea? In short, we must have rich resources and broad growth space.
This means that whether an incremental track can be positioned directly determines the growth rate and upper limit of the brand. Obviously, most of the new species choose to be young people’s market, especially generation Z (born in 1995-2009) who pursue personality and love new things.
In China, generation Z has 260 million people. According to the research of Kaidu and Tencent, it is estimated that it will also occupy 40% of the consumption power in 2020 – that is, nearly 18 trillion market. The monthly disposable income of generation Z in 2018 reached 3501 yuan, 49.23% higher than the national average benchmark.
According to cbndata data, the growth rate of online consumption of post-95 people is far higher than that of other age groups. All brands are expanding their categories around their characteristics and interests.
If we look at the category dimension again, through the latest research data of Qingshan capital, we can also find that Gmv of emerging new brands is high, the growth rate is fast, and young people pay high attention to it.
Photo source: Castle Peak capital
Generation Z has become the core driving force of some categories. Taking trendy consumer goods as an example (mainly clothing), we can see that in the past two years, the Gmv contribution value of generation Z to the market has increased significantly, and the growth rate of Gmv is more than 400%.
Photo source: Ali Research Institute, growth black box
What benefits will young people bring to the performance growth of the brand? Let’s look at an impressive case.
As one of the oldest luxury brands, gucci faced the problem of stagnant growth for many years after 2010, and the whole brand has reached the edge of crisis. One of the important reasons is that the consumption ability of the middle-aged customers is shrinking. At the same time, over the years, product creativity and design also tend to be rigid.
The senior management of the group was aware of the rising trend of young people’s consumption, so they began to reform after 2015, replacing the CEO and creative director successively. The whole brand is transforming to a younger one, shifting its target customers from the generation X (1965-1976) dominated by the Post-70s to the millennials (1981-1995) dominated by the post-80s and post-90s.
Take a look at the comparison chart of the official website below. The gap is less than a year: it’s hard to believe that this is the same brand. At the same time, all of the marketing strategies, product design, supply chain and even offline store decoration have been rebuilt to launch a comprehensive attack on the Millennials.
Gucci didn’t leave a way for itself, and even cleared most of the old products – in 2015, you can often see posters of “half price sale” hanging in front of Gucci’s special store, with hundreds of meters of lines behind. In order to ensure that the company can grasp the market demand of young people, the CEO also specially set up a “shadow committee” of dozens of people, all of whom are composed of post-90s employees. They attend every senior management meeting to make suggestions for improvement.
After only three years, its millennials’ revenue has increased rapidly, completely getting rid of the old brand image in the past. By 2018, the proportion of millennials among Gucci’s customers has risen to 62%.
The company’s revenue has also opened a rocket model of rapid growth for 18 consecutive quarters.
Data source: Gucci financial report, growth black box
But how can new species create products that appeal to young people in a short time? In fact, gucci made a good example: CO branding.
From all kinds of famous artists, rap singers, and north face, these IP fans are actually accurate young people. Gucci skillfully “washes” them into his own hands, and everyone is a win-win situation.
Looking back at many domestic cutting-edge brands, they are also rapidly gaining the attention of generation Z through co branding. Take wonderlab as an example. In 19 years, it has been co branded with hi tea, super orangutan and even QQ. Gmv at the end of 2020 is 900% higher than that at the end of 2019, and a large part of this is the joint contribution of Xi cha.
The speed of product innovation has always been the core driving force of growth. New species often have a very fast speed of upgrading, and constantly carry out product optimization and iteration.
For a brand, new products are becoming more and more important. According to the official data of tmall, the number of new products has been doubling in recent years, and the proportion of new product sales in Gmv has increased from 24% in 2017 to 35% in 2019.
Photo source: Ali Research Institute, growth black box
However, it takes time from insight to user needs and to products being manufactured. In 2000, it took at least 24 months for a new product to go on sale. At that time, information dissemination was underdeveloped, and the types of consumer goods were limited, so the demand of consumers was relatively stable. But today, if brands take such a long time to develop products, consumer demand will have changed by the time they go on the market, and the market will be divided up by competing products.
Nowadays, the cycle of new products on the shelves is generally shortened to 6-18 months, but traditional brands or international brands are still lagging behind new species.
Similarly, in the beauty industry, for example, the new cycle of international brands is generally 6-12 months, while the perfect diary can be shortened to 3 months. In 2019 alone, it has 2000 new SKUs. The curve in the figure below can well reflect the new differences on the Internet
Let’s look at other industries
Bear electric: 278 R & D personnel from 7 R & D teams, develop more than 100 new products every year, and invest 60% in product R & D
Liangpin shop: more than 1500 SKUs will be sold in the first half of 2020, covering 14 categories, with new products accounting for 18.25%.
This is because the new species adopts a completely different product building process from the traditional big brands, and the chain from demand insight to decision-making is simpler, which greatly shortens the time cycle and improves the efficiency of building “hot money”.
Photo source: Tianfeng securities, growth black box
So, what strategies do new species use to gain efficient insight into users’ needs?
One is the use of external public data, such as e-commerce sales, social public opinion, etc. (this will be discussed in the last section).
Another important method is to get the insight of consumer demand through the high-frequency interaction with users, directly through experiments and consumer feedback data, breaking the original survey mode of questionnaire or focus group interview.
Our research found that many new species are using the “experience officer” model to test new products: collect heavy users in the private domain, distribute samples free of charge, and then collect comments on the formula, packaging and other selling points.
Huaxizi started to do “user co creation” on Weibo when the brand was just founded. In 2019, it moved the system to small programs. So far, tens of thousands of users have participated in Product Co creation.
In 2020, Yuanqi forest, which is popular in money, also began to use small programs to build the same system, with more than 1000 people participating each time.
Today, consumers’ demand for beauty is rising rapidly. According to cbndata, the penetration rate of consumers searching for “high face value” in various categories in 2020 is 2.76 times that of the same period last year.
Therefore, new species will pay special attention to the improvement of appearance value, whether it is product design or brand promotion materials.
On the one hand, after the basic material needs are rich, human beings will instinctively pursue spiritual values. Beauty reflects the consumers’ sustenance for a better life. Charles Spence, a professor at Oxford University, has done a lot of experiments, which show that face value not only affects people’s interest in food, but also changes the taste of food, just as we always evaluate food from the three dimensions of “color”, “fragrance” and “taste”.
On the other hand, facial value is actually an efficient information transmission. Nowadays, the richness of products is actually overloaded for consumers. How can we have time to sit down and slowly compare the selling points and efficacy of each brand? The visual impact often leads to consumers’ intuitive judgment and promotes the purchase decision.
With the help of public opinion data, we can see how much consumers attach importance to beauty.
Take the coffee industry’s black horse Santong and a half as an example. Among the tmall review keywords of its popular products, top 10 has five dimensions related to appearance and appearance.
Data source: magic mirror Market Intelligence
BabyCare has also made a face value innovation in the maternal and infant industry. According to the tmall evaluation data of its popular products, the most popular evaluation of consumers is “face value online”, and the degree of attention even exceeds the product quality itself.
So, how did the new species put the slogan of “improving their appearance” on the ground? Let’s not talk about the founder’s own taste and aesthetics. Are there any other decisive factors?
The results we observed are also very direct: invest enough money and thoughts, build a professional designer team, study the design every day, and never let go of every detail.
For example, BabyCare has set up a large team of designers to study how to improve their appearance. Li Kuo, its CEO, was born as an industrial designer and paid special attention to product design and packaging. As far as we know, there are 150 designers who only design tmall store pages, each focusing on the optimization of 3-4 pages. Plus product designers, there may be 300 people! There are more than 3000 people in BabyCare, and 10% of them are designers.
Let’s look at huaxizi. Half of the whole brand center is a designer. It also employs an external team of 80 people to subcontract part of the work, including some top design studios, and even cooperates with the Central Academy of fine arts.
It can be said that the appearance of products is the same as people’s dressing. How much you care, others care about you.
The essence of business is human. We will pay close attention to whether the organizational structure of new species has changed and whether there are some similarities.
First of all, whether it is the new born consumer goods or the business innovation of traditional companies, there is a common feature in the organizational structure: the team members are getting younger and younger.
We randomly selected 8 fast-growing consumer brands and sampled nearly 100 employees with core functions such as product, marketing and technology. 72% of the employees are under 30 years old, and 30% of the employees who are younger than 25 years old are after 95.
Data source: 51job, growth black box
One of the most important reasons is that these new brands are oriented to the young people’s market, and their peers know their needs best – whether it’s product design, marketing creativity, or customer care services.
Moody, as a new brand of Meitong, only took 10 months to grow its sales from 0 to 100 million, while its founder, CI ran, was only 27 years old, and the whole team was young. Because the market they are facing is the post-95 young people.
Take BabyCare as an example. In the period of rapid expansion in 2019, the average age of the team is only 23 years old. Because the main target group of the company is post-90s mothers.
On the other hand, it benefits from the young people’s spirit of “a newborn calf is not afraid of tigers”. Innovation iteration of both products and marketing strategies is an important driving force for growth, and constant trial and error is indispensable. Young people have no fixed thinking and stock burden, so they are bold enough to try various innovative means and accumulate successful experience. In other words, if you want to do innovative business, you can’t let people with traditional thinking do it.
The second characteristic of organizational structure often appears in the emerging brands: internalizing the core functions and no longer relying on the agent operators.
Traditional brand’s consistent practice is to find a professional agency to outsource all kinds of work, for example, to find a consulting company to formulate strategies, to find TP to operate tmall store, to find 4A company to plan marketing activities, to find it company to develop technical architecture, and to hand over community and private domain to others.
This way naturally has great advantages: let professional people do professional things, have reliable suppliers, brand side as long as a few managers can leverage huge business. However, in the digital age, the disadvantages of this model are gradually exposed
1. Serious separation between departments: not only user data and operation indicators are difficult to get through, but also internal and external consumption are easy to occur. For international brands, they need to make great efforts to persuade headquarters to allocate resources.
2. The separation between brand and user is serious: agent operation company and retail agent are in a similar position, which directly cut off the connection between brand and user. The speed of the brand to obtain customer feedback is also greatly delayed, which is not conducive to the optimization iteration.
Therefore, many consumer brands internalize their core operation functions, and carry out fine division of labor in terms of brand, product, design, operation and delivery. Perfect diary has published more than 400 jobs on 51jobs alone, and this kind of recruitment logic is almost unimaginable for traditional brands.
Data source: 51job, growth black box
As for function internalization, let’s take another concrete example: the construction of private domain operation team. Since 2018, Afu essential oil has continued to operate wechat ecosystem, built a team of 100 people, with annual private revenue of more than 150 million, and the growth rate is very considerable.
The division of labor and cooperation of the whole team is in order. The front desk is responsible for the drainage and transformation, while the middle desk provides content and technical support, continuously incubates customers in the form of courses and education, and improves customers’ LTV. Thus, a complete process has been created: the circle of friends, the official account and the community, the new course of incubator training – small program and live broadcast to promote the first order and repeat purchase.
Data source: growth black box
However, talents in the consumer goods industry are obviously scarce. How can the new species build a young and functional team?
According to our observation, there may be two more feasible methods. But the core is to give enough money:
1. Cross industry recruitment of talents: for example, looking for the target from the industries with similar operation links such as education and finance and high degree of digitalization. Some amazing strategies in the consumer goods industry may be left over by other industries.
2. Recruitment of talents in the upstream and downstream industry chain: for example, Party B can directly find professionals in the industry from the agent operation company. In addition, the advertising service departments of batj and other platforms also have a large number of corresponding positions. For example, tiktok has a master of consumer goods advertising, and many of them jump out of business to make brand names.
You may have a consensus: new species are particularly good at “storytelling” and “making relationships” with users. In fact, the inside information and connotation of a brand are often transmitted through a large amount of content, and the interaction caused by content further shortens the distance with users.
Using content to occupy users’ time, invade their mind, and finally transform into purchasing power, which has been a rule since ancient times.
Then, in the Internet era, the common characteristics of new species are: pay attention to content marketing, produce massive digital content, cover video, live broadcast, graphics and other rich forms, and constantly convey the story of the brand and care for users.
But also for marketing, what’s the difference between the content of new species and that of traditional advertisements?
As early as 1999, Seth Godin, a marketing wizard and Yahoo marketing expert, tried to sum up the law behind this and wrote the book “permission marketing”.
According to his theory, traditional marketing belongs to interference marketing, which forces people to turn their attention to advertising (for example, TV program plug-in advertising) – the essence of marketing competition is the competition for users’ attention. In the age of underdeveloped Internet, this is actually the best way to attract people’s attention. But the information explosion brought by the Internet makes people’s resistance stronger and stronger, and the traditional means begin to fail. As early as 2007, statistics showed that Americans were exposed to an average of 1 million advertisements a year, that is, 2700 advertisements a day.
According to Seth’s observation, there is a rule in successful marketing activities: the content is approved by users. So his theory compares attracting customers to getting permission to dating, from strangers to friends to lifelong partners. In short, the company exports value to the outside world, which makes potential customers interested in the company’s business, so they are willing to actively provide sales leads, cooperate with sales follow-up, and finally complete the transformation.
In contrast, traditional advertising, like loudspeakers, constantly harasses consumers and fails to deliver valuable information (outbound marketing). Content marketing, like a magnet, actively attracts consumers and makes them feel “helpful” and “interesting”. This is because traditional advertising focuses more on the exposure link, often unable to make too much contribution to the subsequent user life cycle. Content marketing covers the whole life cycle of consumers and provides differentiated value.
On the other hand, consumers’ attention is obviously moving to digital channels, and the effect of traditional media advertising is more and more limited. So tiktok is more likely to create a lot of content in the channel of jitter, red book, official account and so on, so as to get more contact with consumers.
My partner Alan once had a figurative metaphor: these eyebrow pens and eye shadows are equivalent to coloured pencils, and the most desirable thing for beginners to dress is to draw pictures on their faces. So perfect diary found 15000 KOLs to be teachers and made hundreds of thousands of teaching videos. No wonder consumers will buy it.
Content itself is a matter of high cost and great difficulty. How does new species produce content efficiently?
It depends on a large number of KOL or UGC to “subcontract” content production. We found that many consumer goods companies have begun to build their own MCN and build IP.
Let’s take Shangpin homestead distribution, whose stock price has risen sharply recently, as an example. The furniture customization business, which seems to be very traditional, is endowed with powerful digital marketing capabilities, even surpassing many Internet companies.
The luxehome distribution tiktok has built the largest home decoration industry MCN in China, with more than 300 KOL, and 120 million fans in the whole network, with only 80 million of the platform. The number of fans of the company’s IP “designer a Shuang” created from 0 is close to 2000 W. As a result, no matter which social platform you pay attention to or search for the knowledge of home decoration, there will always be the content of Shangpin homestead.
With the subsequent landing page “0 yuan design” to collect sales leads, and then guide the transformation into the store, the ROI can be as high as 10-20.
Baodao glasses is a more interesting case. It has trained more than 7000 shopping guides from 1100 stores across the country into Koc. It creates content on major social platforms, which is more like a “all staff MCN” organization. Tiktok set up 7000 people’s accounts, 800 small red book accounts, 200 master accounts and 20 voice accounts in public comment. From January to October in 2020, 12000 texts and texts will be exported, with more than 10 million views. And the direction of content is to provide users with eye health knowledge.
Today, the common feature of consumers is that their attention is more and more distracted and their access to information is more and more fragmented
Ten years ago, consumers only needed 5-7 times to make purchase decisions. Today, according to P & G’s estimation, it takes 30 times. Otherwise, consumers have no perception of the brand at all.
Ten years ago, e-commerce might only need Taobao as a centralized contact point to establish contact with consumers. Today, according to Tencent estimates, brands should establish 5.2 contacts with consumers tiktok, including WeChat, jowl, and little red books. Otherwise, it is easy for consumers to “lose contact”.
Therefore, new species basically no longer rely on single channel exposure and transformation, but build a strong Omni channel operation ability, and establish a DTC (direct to consumer) system.
We have studied many new brands, and most of them have really grasped the traffic dividend and invested a lot of money to start the business quickly in a single channel. Bind Li Jiaqi like Hua Xi Zi, HFP put hundreds of millions of advertisements on official account, BabyCare grabbed the resource location of Amoy. But after they came to the fore, they all expanded a large number of new marketing contacts, and constantly optimized the proportion of marketing investment – public domain / private domain, taonei / taowai, online / online. They are trying to take the omni channel route – the single contact mode obviously can not meet the needs of brand growth.
The essence of Omni channel marketing is to build a customer journey around the life cycle of consumers. It is to design how to undertake the combination between multiple contacts, and let consumers accept the correct information in the appropriate scene, so as to achieve the effect of 1 + 1 > 2.
As early as five years ago, McKinsey did research and found that the return from building customer journey is far greater than that from operating single contact, which can significantly improve customer satisfaction, retention and recommendation, and reduce turnover.
From another point of view, building a DTC model that directly touches consumers is also the direction of new species’ key investment. In addition to avoiding the high taxes of e-commerce platforms and distributors, it is more important to be able to effectively control user data and respond quickly.
If we want to choose a case of Omni channel marketing, we still need to focus on the perfect diary. It started from taowai traffic xiaohongshu, and gradually expanded to 10 million level of wechat private domain, and then established hundreds of offline stores, directly reaching more than 23 million users in DTC mode.
According to our calculation, of the 3.5 billion revenue of perfect diary in 2019, 2.8 billion will come from e-commerce platforms such as tmall, 500 million from wechat private domain and 200 million from offline stores. Each channel is evenly distributed with a team of about 1000 people. At the same time, there is a technical team of 200 people to get through the omni channel data.
Of course, building a perfect customer journey is not only the patent of new online brands, but also the traditional brands can be completed through mode innovation and offline services.
Feihe milk powder has maintained rapid growth in the past two years, with an annual revenue of nearly 20 billion yuan, ranking the top 1 of high-end infant milk powder. It is often called “Maotai in the milk powder industry”. However, before 2017, it also faced the dilemma of weak growth.
Through strategic adjustment, Feihe has locked in the track of high-end milk powder, and decided to open the market from the cities below the third tier, bypassing the competition of foreign brands in the first and second tier cities.
How does Feihe reach the target customers? As a traditional production enterprise, more than 80% of its revenue comes from various offline agent stores, it seems difficult to make any breakthrough. However, since 2018, Feihe has blazed a new trail with an annual budget of 900 million yuan, held more than 500000 offline activities nationwide, and established an efficient touch system with the help of 100000 + channel stores.
From the mother and baby shop shopping guide to invite customers, to the milk powder tasting and parent-child activities at the activity site, and then to the member service system after the activity, Feihe carried out refined operation around Baoma’s life cycle, with high ROI, which promoted the rapid growth of performance.
Finally, new species attach great importance to data collection and application to guide product iteration and operation optimization. A set of perfect data system can undoubtedly help the company to open the “God’s perspective” and see further and more clearly. This is reflected in two aspects
The first is to use external data.
If you look up the recruitment data, you will find that many consumer brands will recruit “crawler engineer”, which just proves that new species are actively collecting external intelligence – after all, the amount of information directly determines the speed and accuracy of decision-making, which is one of the reasons for their quick response.
New species can not only use social public opinion data to perceive users’ pain points, but also use e-commerce platform data to track the trend of competing products, and use advertising data to formulate marketing strategies.
For example, according to the data of the e-commerce platform, we can establish an insight into the market demand and help brands select and position.
In the beauty industry, some companies are already using machine learning and big data to study the relationship between product color number and sales volume, so as to find the most popular color.
The first step of the research is to extract the product image of tmall’s 40000 lipstick SKUs, and extract the color according to the lip position in the image. Finally, we can get the RGB data of each lipstick SKU.
Image source: magic mirror Market Intelligence
Then 25 colors are used for k-means clustering, and finally 40000 colors are simplified into the following 25 color numbers. Combined with the sales volume of tmall, we can see which colors sell well.
Image source: magic mirror Market Intelligence
The color of No. 12 is monopolized by the perfect diary’s black diamond and Meike pepper.
The second is to use internal data.
As mentioned earlier, new species often build customer relationships in Omni channels, including a large number of online channels.
If you want to control many contacts and create a complete customer journey, you must get through Omni channel data, so as to provide personalized service and improve customer experience.
One of the problems that traditional brands face is that the data “resolution is not enough”, that is, people often say that it is not “refined”, and the cognition of consumers is actually vague.
The main reason is that it is difficult to unify the identity of consumers and issue a standard “ID card” to everyone.
For a long time, the major e-commerce platforms have provided “crowd pack” data for businesses, and the target of marketing has always been a group of people with certain labels, which is less accurate than the individual portrait. And the data of each platform has the phenomenon of “data black hole”, which is difficult to connect with each other.
You can easily see what consumers have done on each platform with the help of platform capabilities (such as business advisors), but you can’t see the complete and unified behavior path of each consumer on the whole platform.
In order to solve the problem of data refinement, many new species are trying to establish a data center, get through Omni channel consumer data, match user identity, browsing behavior and order records, and establish a clear customer portrait for individual consumers.
Customer data platform (CDP) is an important solution. Taking the wechat ecosystem in the following figure as an example, we can collect data from four different marketing contacts, then match the user’s identity according to unionid, establish a perfect user profile, and store it structurally in CDP. Then, by tagging and layering, we can design a scientific operation model for the customer life cycle. Finally, by connecting with the SCRM system, we can push the right content to users at the right time to provide better customer experience.
According to its own operation system, growth black box has built an internal CDP system, accessed multidimensional customer behavior data, and established a clear customer portrait.
We found an impressive case: child king in the process of studying data center. Although it is a mother and child channel provider, which is quite different from the brand in the previous article, its unique “data enabling” + “consulting service” mode is worth referring to.
Child king has set up more than 300 stores as service scenarios, digitized all 33 million member information through CDP, and established 400 + basic user tags and 1000 + intelligent models. Then, the data is used to assist 7000 shopping guides to interact with users, forming a one-to-one consulting service, which greatly improves users’ loyalty and repurchase rate. According to statistics, 98% of the revenue of child king comes from old users, and the revenue in 2019 is close to 9 billion yuan.
Child Wang is equipped with an app called “integration of people and customers” for each shopping guide, which can not only quickly establish a customer binding relationship, but also check all the consumption and behavior records of customers under his name through the background. Just imagine, when the shopping guide can clearly see the age of the customer’s children, how their physique is, what products they have bought, and when the last can of milk powder is finished… The follow-up service action must be just right.
In its 2016 prospectus, it was clearly pointed out that the company has invested 200 million yuan to build this set of digital platform system. Take a look at the “Omni channel data center” panel inside child king company, it’s still very shocking.
In fact, a set of mature data application system is gradually accumulated and optimized. If we are pursuing a large and comprehensive system from the beginning, it is difficult to run through. If you want to take the first step, the key is to establish a data-driven framework and a refined business index system.
We observed that many cutting-edge brands in the early days did not have advanced technology and tools, and manpower shortage, but still insist on using Excel and “human flesh” to record data and analyze manually. For example, the amount of innovation, activity, conversion rate of the private domain, and even the real people lurking in the competitive product community, as well as the ROI of KOL channel and information flow delivery… They can still obtain valuable insights to guide their next action.
Through the above summary, we have summed up 8 excellent characteristics of new species from four dimensions of product, marketing, talent and technology. If I can summarize it in three words, it is efficiency. This is not only reflected in the production efficiency and brand communication efficiency, but also reflected in the internal execution.
However, the new species themselves are not perfect. They are able to take off flat, and they are also standing on the wind of the era of the rise of domestic products. If we want to maintain long-term and stable growth, we will face many challenges.
1. Relying on digital channels can start the market faster, but after all, 75% of China’s 40 trillion social retail market comes from offline. It’s a tough battle to go back and compete in traditional channels.
2. Design and packaging are very important, but the core of growth still lies in the product itself. Most of the new brands have no production capacity and rely entirely on OEM factories. How to improve the quality of products through supply chain management and optimization, or even establish their own production line, is also an important issue.
For the traditional enterprises with digital transformation:
1. It turns out that the more successful the enterprise is, the greater the stock burden will be. Innovation business will not have too much investment in the initial stage. How to win more internal resources is not a simple task.
2. The problem of organizational structure will inevitably need a long adjustment cycle, and digital talents will also face a shortage.
In 2021, growth black box will continue to focus on the field of consumer goods, find more replicable growth strategies through research and practice, and help enterprises implement them!
Author: Yolo; source: growthbox (ID: growthbox2), reprint authorized. Joining the community: Cherry (wechat: 15240428449); business cooperation: Amy (wechat: 13701559246). high quality original investment and financing events of inventory in 2020 sustainable wind direction of inventory in 2020 major events of inventory in 2020 technology of inventory in 2020 the most innovative concept beer hidden weapon Pepsi nutrition incubator top ten shortlisted? Daily new products: Isee trends | editor’s | reader’s
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