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At that time, it was widely rumored in the industry that the single store valuation of the two brands reached 100million yuan, which made consumer peers envy it. At the same time, it is also puzzling why snack shops are so popular?
Compared with luxihe, another snack brand in the same period, luxihe was much more low-key. Luxihe had not officially disclosed the relevant financing information to the outside world. However, with years of steady experience in Jiangsu, luxihe had traveled to Zhejiang, Shanghai, Beijing and other cities in 2021, with more than 170 stores.
In addition to the above-mentioned brands, there are many snack brands, such as Zhan Ji, green orange and wooden fish, Jiangnan palace pastry, donggengdao snack shop, Shanhe cake Bureau, dianjinshi, etc., which have launched new Chinese snacks such as tapioca, walnut crisp, pan tart, etc., which also caused many netizens to plant grass and punch in.
However, when the time shifted back to this summer, the dim sum track suddenly seemed to be no longer hot.
according to the “2022h1 new consumption industry investment and financing trend report” recently released by the moose Consumption Research Institute, in the first half of 2022, a total of 333 financing events occurred in the consumption track, but there was no financing news about a new Chinese dim sum brand.
the recent survey of moose new consumption also found that compared with last year, the number of people queuing has decreased significantly, and some stores don’t even need to queue at all.
Store expansion slows down
Beijing is the third city and the first super first tier city of Momo dim sum Bureau. Moose new consumption once went to explore the store when the first store of Momo dim sum Bureau opened. The queue on that day was unprecedented. According to rough statistics, the number of people queuing on that day was up to more than 100, and the on-site staff raised their cards at noon that day to remind that if you queue from the end of the queue, you may need to wait for up to 7.5 hours.
however, such a grand occasion is now rare. Heshenghui is one of the most popular shopping malls in Chaoyang, Beijing. Mo Mo dim sum Bureau opened a new store here at the beginning of this year, located on B1 floor, where new consumer brands are most clustered. In recent two months, Xiaoxue, who lives nearby, has gone to heshenghui shopping mall five times and passed by Mo Mo dim sum Bureau. She found that there are not many customers in front of the dim sum shop now, and at the same time, there are often no more than five customers queuing to buy. In addition, she also bought it twice. Most of the products are available in stock. There is no purchase restriction and there is no need to wait.
Not only that, Luxi River and Zhan Ji, which are less than one kilometer away from heshenghui, no longer have long lines recently. Luxihe’s store is located at the ground floor of Carrefour mall, mainly selling cakes through stalls. It may be due to the epidemic, or it may be because the weather is hot in summer, and customers can’t stand waiting in the open air. Anyway, the passenger flow is significantly less now than a few months ago.
The dim sum business is no longer easy to do, and began to take shape at the beginning of this year. At that time, many media reported that the monthly sales of Mo Mo dim sum Bureau was declining, and the sales of a single store had fallen from the peak of about 1million / month when it was just opened to about 300000 / month. In addition, Momo dim sum Bureau was also exposed to the news of large-scale layoffs at the beginning of the year. Although the founder later responded that the layoffs were untrue, it was just a normal Department adjustment, but the pace of opening stores of Momo dim sum Bureau gradually slowed down this year.
According to the data of narrow door restaurant, Mo Mo dim sum Bureau has 67 stores. From the perspective of store opening, stores are mainly opened from April 2021 to the Spring Festival, with an average of 8 stores per month. Since February 2022, the number of stores has decreased significantly, and only 7 new stores have been opened since February.
The same is true of the tiger head game. According to the data of narrow door restaurant, Hutou Bureau has 62 stores. In the past three months, Hutou Bureau has opened 14 new stores, 4 new stores and 4 new stores respectively. At the same time, the new consumption research of moose also found that Hutou bureau is decorating a new store in huamaotiandi outside the North Fifth Ring Road, but the progress is relatively slow. It has been several months since the decoration poster was posted, and there is still no sign of opening.
The epidemic is likely to be an important reason for the slow expansion of the above-mentioned new Chinese dim sum brands, but the decline of the capital boom is also a factor that cannot be ignored.
fall into the curse of Internet celebrity?
The baking industry has never lacked “online celebrity”, but most of them are short-lived.
in 2013, uncle chase became popular all over the country with cheese cake. For more than a year, he opened more than 100 stores in more than 40 cities across the country. Many people queued for hours to wait for a piece of cheese cake. In addition to Uncle Chester and grandpa ricko, they were all popular online brands at that time, but now no one cares.
In recent years, yizhiduo, a well-known pastry brand in Shanghai, has also fallen into a wave of store closures. Its founder admitted in a recent media interview that he is currently in arrears with employees’ wages of more than 8 million yuan, as well as the payment for goods from suppliers, leading to the current store closure crisis. But he is trying to find a way to resume production.
A piece of thousand layer cake is more than 100 yuan, which has always been known as “Hermes in the cake”. Lady M can’t escape the tide of closing stores. Last year, lady m closed its first store in Beijing, Chaoyang Joy City store and Sanlitun taiguli store one after another, and many lady M stores in Shanghai also withdrew.
“It’s too easy for the baking industry to become online celebrities. When a new product comes out, it will be fried into online celebrities. After a period of silence, a batch of new stores will come out:” financing store expansion, offline queue tide, fighting fake stores, which almost become several things that these online celebrities in the baking industry will experience every three to five years. ” An insider said about the new consumption of moose.
When it comes to Shanzhai stores, I have to mention “master Bao”, who is also the origin of online celebrity brand. After master Bao became the first generation of online celebrity pastry brand, a series of Shanzhai stores have sprung up. At most, the number of Shanzhai stores is nearly 100 times that of “master Bao”. By the end of 2017, master Bao’s Direct stores were only 26 in the country, while the number of Shanzhai “master Bao” has exceeded 2000. After years of crackdown on counterfeiting, the effect is remarkable, and master Bao’s fake stores are becoming less and less. However, master Bao no longer enjoys the queuing tide brought by the former “online popularity effect”, and the popular “pork floss Xiaobei” has also become a popular item in many pastry stores. By the end of 2021, the number of Direct stores of master Bao had just exceeded 100.
Similar to master Bao’s experience, there are more and more fake stores in Mo Mo dim sum Bureau and Hutou Bureau in the past two years. Mainly from brand naming, decoration design style and other plagiarism. The word “Guochao” is also popular with new consumption. Many Shanzhai stores are becoming more and more smart. They do not extract the brand name as it is. They are more named after something similar, such as a certain dim sum Bureau. The decoration style is not copied, but more imitation and learning.
Brands such as luxihe and Momo dim sum bureau are currently dominated by Direct stores, and the personnel management and cost control of Direct stores limit the speed of large-scale expansion of stores. In the limited online popularity period, how to quickly expand stores and improve the sales of single stores has also become a problem in front of these new Chinese dim sum brands. Can the
time-honored brands still fight?
It is worth mentioning that last year, capital did not forget the time-honored pastry brand while it was hot on the new Chinese dessert brand. In October 2021, xianghebobo store announced that it had completed the angel round financing of more than 100 million yuan.
in fact, although new Chinese brands such as Mo Mo dim sum Bureau and Hutou bureau have only appeared in recent years, pastry is actually a traditional market. There are many hundred year old pastry brands in China, such as daoxiangcun in Beijing and Xianghe Bobo shop in Tianjin, which shows that the pastry industry can develop brands for decades or even centuries.
previously, when talking with moose new consumption, Mifei, the partner of Yuanhe origin, said that he was optimistic about the opportunities for the chain of traditional Chinese dim sum brands, and Mifei was particularly optimistic that some regional time-honored brands with brand foundation would stand out from this track. ” In the catering and food track, users’ tolerance rate to taste is relatively low. Generally speaking, regional brands with a long history have verified the stability and sustainability of product taste through time and many users. After the supply chain, logistics and management are further upgraded, it is more likely to be upgraded into a national brand. ”
According to the report on the development trend of the baking industry in 2021, the market size of China’s baking industry was 235.8 billion yuan in 2020, and it is expected to maintain a growth rate of about 7% in the next five years. It can be seen that the market prospect of dim sum baking industry is still large.
however, consumers’ consumption habits of new Chinese dim sum may not be developed overnight. The new generation of online popular dim sum brands still have a long way to go in order to seize the market among a number of time-honored cake brands.
Author: Xiuzhen; Source: moose new consumption (id:tuolu360), reprint has been authorized. Reprint authorization and media business cooperation: Amy (wechat: 13701559246);
food people are “watching”