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how big is the market for a cake that delivers “happiness” to customers?
On September 28, the online cake brand “panda does not go” has completed a round B financing of RMB 100 million. This round of financing is exclusively invested by xvc and will be mainly used for talent recruitment, market development and system upgrading.
Recently, Yang Zhenhua, founder of panda no go, delivered a speech entitled “how to be a brand that everyone is willing to share”. He pointed out that panda no go cake is not only a gift attribute, but also a gift attribute and social attribute.
Yang Zhenhua said that pandas don’t go cake. In 25 cities across the country, they mainly sell birthday cakes. They made a different insight based on the birthday scene and found that what users want is not the food attribute of the cake, but the sense of ceremony.
They found that in the past, all peers were selling cakes themselves, but consumers did not buy a cake because they were hungry. Cheap and fast delivery were not the real needs of this scene.
The real demand is that the cake is the expression of happiness, moving, surprise and other emotions. The deeper demand is to convey the sense of companionship, love and ceremony. The family also needs the sense of ceremony, and the maintenance of emotions among personnel.
Yang Zhenhua believes that pandas are grabbing territory at this stage. In the offensive stage, barriers and moats are not what the panda team wants to think. They want to think about defense and those in power. They have to be in power first.
Yang Zhenhua, the founder of panda don’t go, is a continuous entrepreneur. His long-term entrepreneurial experience makes him attach great importance to the management of each member relationship in the team. How to give employees an unforgettable birthday party is the most important thing in his daily life, which has also become an opportunity for him to start “panda don’t go”.
seen at the birthday party
At that time, a colleague in Yang Zhenhua’s team was a heavy fan of Shanghai beach.
On the occasion of his birthday, Yang Zhenhua and other colleagues carefully prepared a Shanghai beach themed birthday party for him. The birthday party was built into a Shanghai beach during the period of the Republic of China. The people participating in the birthday party were all dressed up in the gangs of old Shanghai, so that the birthday colleagues had a good addiction to being big brother.
The whole birthday party didn’t cost much, but it created an unexpected birthday experience and emotional link for the colleague. This matter buried its roots in Yang Zhenhua’s heart. After several investigations, the panda didn’t go came into being.
The panda’s mode of departure is not complicated. Consumers can place orders through online channels such as WeChat official account and small program. The panda does not go to provide door-to-door service.
During the delivery process, the delivery personnel will wear panda clothes and perform dances, magic, violin playing and other performances on site to create a lively and festive scene for users. A song, a blessing and a little magic, although small, can easily enter the hearts of the people and bring consumers better services beyond products.
The reason why the panda chose the birthday cake track was well thought out.
The baking industry has a large market scale, reaching 400 billion a year and about 160 billion birthday cakes. It is still growing at a rate of more than 10% every year, and the gross profit can reach 65% to 70%.
At the same time, the assimilation and instrumentalization of cake quality enable a single brand to occupy a high market share, and the scenes and people entering the baking market can be extended. For example, birthday gifts may be accompanied by flowers, and cake baking can be extended to make afternoon tea and cookies. Therefore, I think this industry has great opportunities.
In addition, there is no leading enterprise in the industry as a whole.
More than 80% of the orders are in traditional offline stores. Customers need to place orders in the store, which is a waste of time and a bad user experience;
Traditional offline stores need a good location with low price and large passenger flow. Opening branches one by one, the investment cost and return cycle are particularly slow, and it is also particularly difficult to select location and transfer. It will take ten or twenty years to become an influential enterprise in the local area.
This is doomed that there will only be regional leaders offline, and no big brand enterprises will be born during this period of time.
Provide happy service and build a brand moat
In the vertical cake market, some people sell styles and others sell tastes, but pandas don’t go is different from them. In the consumption scenario of birthday cake, pandas don’t go has an insight that users who buy birthday cake usually buy it for others.
It’s hard for you to imagine a person buying a cake on his own birthday and hiding in the corner to make a wish for himself. Therefore, when buying a cake, either others buy it for you or you buy it for others. The person who buys the cake is basically not a birthday person.
Therefore, what is the focus of buying birthday cake? It is to convey blessings and express your mind!
Imagine a scene where you receive a birthday cake on your birthday. At this moment, your relatives, friends or colleagues get together. In this scene, what you need to do most is to share this happiness with everyone.
Panda doesn’t go. It just grasps this demand and turns the simple door-to-door service into a creative service for users’ birthday parties, creating a lively and festive scene for users.
For example, during the Spring Festival, the panda delivering the cake dressed up as the God of wealth. A banner attached to the cake roughly means that the God of wealth Jin Yan wishes you 100 million a year.
Such blessings with Chinese traditional cultural elements have been applied to the scene of cake distribution and won wide praise. After all, who doesn’t want to make a good color head on the occasion of the Spring Festival.
For another example, hundreds of millions of Zimbabwean dollars (the current exchange rate between RMB and Zimbabwean dollars is 1:9.4 billion) are placed in the delivered cake box. Although the actual value of these foreign currencies is very low, they are very interesting for users and good material for sending a circle of friends, which can leave an unforgettable memory.
Now, the panda does not go and gradually accumulates these scene services and ideas into a “idea library”. At present, there are thousands of ideas in the inventory.
Even when some customers don’t know how to plan a fun birthday party, the panda will match them with appropriate schemes and playing methods from the “idea library” if they don’t go.
Although peers can imitate, they can’t really do well for three reasons:
First, it is difficult to find a more suitable image.
Enterprises will face two problems when choosing other animals for similar end-of-end services:
First, there are few animals with higher acceptance and more consistent image than pandas, and the brand will greatly discount the effect of scene performance;
Second, the temporary choice of animals, due to long-term franchise and other reasons, the brand can not change its name, and consumers can not form the cognition of long-term relationship between the two.
In addition to animals, choosing IP also faces the same problem. No IP is as widely accepted as pandas.
In addition, IP will also make the enterprise very passive, because the IP with small popularity is worthless, the IP brand with large popularity is almost picky about the image requirements, and the enterprise may lose the right to use the copyright if it is not careful.
At the same time, the more successful the enterprise is, the more passive it is, because the success of the enterprise’s service at the end of the cake actually increases the brand value of IP. In the future, the IP may need higher royalties. In the long run, there will be a vicious circle.
Secondly, if an enterprise wants to do a good job, it must cooperate with the overall strategy and structure to give full play to its team genetic potential.
Most cake enterprises have strong gene in cost control, investment promotion, financing and other capabilities, and have no sense of service. It is not good to do it by the way.
For example, if an enterprise chooses the cost-effective route, it will naturally conflict with the service, because the process of reducing the cost will inevitably damage the treatment of employees, raw materials, advertising, distribution, etc. all departments of the enterprise focus on how to control the cost and will not have the mind to provide premium services;
Or, some enterprises choose the customization of high-end niche, and its team gene may be more R & D upgrading and different. It costs high education cost to achieve high price and low volume, which is not suitable for explosion or mass production.
There are many enterprises with other ideas. They can’t do a good job in service through simple imitation, because the enterprise strategy and advantages are not in this aspect, and they can’t adhere to it for a long time.
Finally, the model of many enterprises is investment promotion and franchise agency, and there is a contradiction between agents and brand parties.
The agent’s brand has a service life. What he cares about is making fast money within the time limit. His business philosophy is uneven, his ability and quality are high and low, and the brand has no right to manage his factory construction, recruitment, training, distribution, etc. naturally, the service can’t be really good.
In terms of brand communication, the order sources of panda are divided into three parts: traditional publicity, third-party online platform and offline push.
Panda is good at online platform operation. It divides the operation of each platform into different working groups to study its game rules, make records and find the possibility of upgrading and iteration. Now, the reflection record of one operation Department has reached more than 600 pages.
Distribute leaflets are popular in the market, and we will distribute leaflets in shopping malls, subway outlets and business places. We will invite customers to evaluate and share with customers, introduce our official account, organize free trial, play games, and so on.
Of course, cakes also have the advantage of category scenes. Customers will send birthday scenes to the circle of friends. We can add some beautiful logos to the material design, and the customers will automatically help us complete the secondary dissemination.
Finally, for cake, a product with high customer unit price and low consumption frequency, customers often rely on brand impression and friend recommendation, so the brand must give others a reason for recommendation.
Cheap is not a reason, because as a product with social attributes, cheap means that the other party seems to have no spending power; Fast delivery is not the reason, because the delivery demand of cake category only lies in punctuality; Delicious is not the reason, because it is difficult to adjust, and different people have different tastes;
But being happy, happy, interesting and big brand is not only the reason to recommend, but also the reason to recommend us, so our referral rate and secondary communication rate will be relatively high.
Self built flow tank to precipitate 20 million private domain users
With the overall rise of online traffic costs, panda doesn’t go and begins to pay attention to offline traffic dividends. In addition to putting in traditional outdoor advertising and carrying out different industry cooperation with shopping malls, panda doesn’t go and will push and suck powder through the ground every month, with hundreds of thousands of customers.
On the user’s precipitation, when the panda did not walk in 2017, it chose to build its own flow cell, and did not rely on Tmall and jitter. Tiktok focused on introducing fans into its WeChat community.
Over the past four years, panda has accumulated more than 20 million private domain users, who have contributed 60% – 70% of its revenue.
As an enterprise that emphasizes service, panda will spend more time serving “internal customers” in organization and management, create a better working atmosphere, and require employees to keep learning to ensure that they can have a forward-looking vision and strong execution.
Sun Tzu’s art of war said that “those who are good at fighting have no courage and wisdom”. Go masters pursue “no skillful hand in the whole”. Zeng Guofan said “build a hard stronghold and fight a stupid battle”. Shen Teng of flying life said “why do you know, others don’t know? Practice more, hit more and try more, and don’t cross the boundary at night”
All think that it is illogical to use the weak to win the strong, use less to win more, get rich overnight, and few people practice basic skills. You can find the right method, work hard and make no big mistakes.
People are gregarious and social animals. As a social tool, cake must have higher and higher consumption quality, more and more consumption scenes and wider consumer groups in the future market.
“We hope that in the future,” panda doesn’t go “can be like Disney. The mention of our brand represents happiness, happiness, surprise and moving. We hope that we can participate in every memorable important and beautiful day or scene in the user’s life,” said Yang Zhenhua.
Source: Catering o2o (ID: coffee o2o), reprint has been authorized. Reprint authorization and media business cooperation: Amy (wechat: 13701559246);
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