Skip to content
new consumption, can byte and catering tell a new story?
New tea, coffee, beauty, meal replacement, baking
In recent years, new consumption has been paid much attention, and the popularity is obvious to all. Many capitals have entered the market. Tencent, byte, station B, meituan and other industry giants have also “bet” on new consumption, investing in a variety of young consumer brands such as catering, fashion, beauty and clothing.
Among them, foodaily observed that as one of the powerful Internet giants, ByteDance has made frequent actions in the new consumption field in recent years, especially in the catering and catering + industries, and has made great efforts in the local life focusing on catering group purchase. Why is ByteDance so optimistic about new food and beverage consumption? What are the intentions of ByteDance?
Today, foodily will bring you a plate of ByteDance’s catering layout, and lead you to explore the food “planet” of byteca.
Image source: bytecan official website
Investment + self operation, new consumption of bytecan catering
1. Byte’s new consumption investment in catering
It can be seen from all the investment and financing situations of ByteDance that bytehop has made many investments since 2020, including 9 related to catering.
Photo source: Food organized and self-made
The first time was in May, 2020, ByteDance invested in lazy bear hotpot, a Chinese food chain fresh convenience store, which opened its road to expand its territory in the catering field. Only a month later, it invested in the health tea brand yinwei tea.
However, it is in 2021 that byte really starts to make new consumption.
In this year, bytek not only made another “heavy attack” on lazy bear hotpot, but also successively participated in the investment in Houxue liquor, a nutritional liquor producer, shark fit, a health food brand, manner coffee, a boutique coffee brand, and a new lemon tea brand with lemon style. The investment categories involved coffee, tea, wine and other popular racetracks. According to relevant estimates, ByteDance’s investment in new consumption areas may have exceeded 800 million yuan.
In 2022, bytecan not only invested in Ningji again, but also increased its investment in Dongfang Honghu, a new digital FMCG Brand Company.
Photo source: Official Weibo of Ningji
From this, we can also see that on the hot track of new consumption, byte values and prefers tea, coffee, wine, hot-pot/" 22375 rel="nofollow" target="_self">hot pot and other catering products. With the strength of these catering brands, bytek’s new consumption territory can not only be well consolidated and expanded, but also lay a good foundation for its long-term plan in the future.
2. Byte’s self catering new consumption
Of course, if you want to better participate in the fierce market competition in the catering industry, it is far from enough to rely on investment.
In the face of the potential blue ocean market of tea, bytek is actually eager to try. In 2021, bytek launched its own tea brand of “Taoyuan Yuye” in Tiktok. Then in November, bytek applied for registration of “bytetea” and “byte tea”. Although the current “bytectea” is only an “internal tea” for bytecan employees, many people speculate that bytecan may consider marketing its own tea in the future.
However, it is undeniable that on the competitive track of new tea, bytecan’s entry into the tea making industry will certainly bring an unknown to the development of the whole industry. In the future, it may be worth looking forward to what changes will take place in the new tea industry.
Like tea, coffee is also a high-frequency consumer product of the younger generation. With the continuous improvement of people’s demand for coffee consumption in recent years, the domestic coffee consumption market has also witnessed rapid development.
It can be seen from the recent “China Coffee new wave – 2022 China coffee industry development report” jointly released by Alibaba new service research center and e-mail and tmall coffee that as early as last year, the market scale of China’s coffee industry reached 381.7 billion yuan, a year-on-year increase of 27.2%. China’s coffee industry is in a period of vigorous growth.
Now, on the fast-paced coffee track, not only more and more brands have entered the market, but also the old coffee business practitioners have started a series of actions to adjust and upgrade their own businesses to cope with the increasingly fierce industry competition.
Comparatively speaking, there are not many byte actions in this field at present.
In 2020, bytecoffee applied for the registration of the “bytecoffee” trademark. Like tea, bytecoffee also included its own “bytecoffee” in the benefits given to its internal employees; In 2021, bytecan invested heavily in the local boutique coffee brand manner coffee.
Although it is not yet known whether bytecoffee will accelerate the industry’s “internal roll” through its “bytecoffee” in the future, from another perspective, it is precisely because of this “unknown” that the future development of the coffee industry will have more possibilities.
Byte’s catering + “ambition”
Based on Tiktok, the way to explore byte localization service
As the largest and most critical business segment under ByteDance, Tiktok has been making continuous efforts around localization of life services in recent years. Catering, as an inseparable and important part of localized life, has naturally been the focus of byte.
Tiktok began to try to localize the life business in 2018, but at the beginning, it didn’t cause much splash.
Until 2020, Tiktok launched the first food list based on short video platform in China – Xinxin restaurant, which opened a new local life mode of online grass planting and offline clocking. During the activity, Tiktok uses
In addition, it may be that Tiktok is not willing to do only group purchase in stores. In July this year, it was revealed that it will try to promote the real-time distribution service of catering – “group purchase distribution”. This is another action taken by Tiktok to try to develop the take out service after the failure of the internal test of “heartbeat take out” service last year. Although it is only in the small-scale test stage for the time being, the signal of “Tiktok can also order take out” may also tell us that a new round of take out competition is about to start.
Photo source: Tech planet
However, whether it is group purchase or take out, it is essentially a series of measures taken by ByteDance to strengthen localization layout. The huge community economic benefits created by the combination of catering and local life have not only contributed to the business growth of ByteDance, but also consolidated its achievements in the catering sector.
Byte and catering, can you tell a new story?
Why on earth does ByteDance favor new food and beverage consumption?
A very important reason may be that the growth of its main business has entered a “bottleneck” period. Although ByteDance has multiple business segments, it is understood that the growth of ByteDance is mainly from Tiktok e-commerce and overseas tiktok business. In the first half of 2021, ByteDance’s domestic advertising revenue stopped growing for the first time. Today’s Toutiao was once on the verge of loss, which also brought huge pressure on the revenue of ByteDance’s Tiktok business segment.
It can also be seen from the data that in the whole year of 2021, ByteDance’s revenue was about US $58 billion, with a year-on-year increase of 70%, significantly lower than the growth rate of 111% last year.
In order to break this dilemma, the growing new consumption is an excellent breakthrough.
Under the new consumption wave, the catering and catering + industry has also ushered in an explosive trend. In particular, the categories represented by tea and coffee have become a hot track in the new consumption field. The new generation of young people are more and more enthusiastic about many new consumption brands and products. For the new consumption with stronger consumption intention and higher price acceptance, the future prospect of ByteDance is undoubtedly predictable.
Let’s take a look at Tiktok.
Since the second half of 2020, the daily activity of Tiktok app has exceeded 600 million, and the average daily video search times have exceeded 400 million. The Tiktok platform not only has a considerable number of users and short video content creators, but also attracts more and more merchants and more than 20000 institutions and service providers.
Taking Tiktok as the “base”, at present, Tiktok e-commerce is in the important stage of upgrading from “interest e-commerce” to “global interest e-commerce”. According to the official report on the survival of Tiktok merchants in the first half of 2022, the Gmv of the platform has increased by 3.2 times year-on-year in the past year, and the Gmv of Tiktok mall has increased by 6 times year-on-year this year. This is enough to prove that using high-quality short video content to stimulate users’ consumption desire can bring more efficient sales conversion rate for merchants. Tiktok e-commerce “high quality content – interest stimulation – stay”
Coffee, wine, tea? One article: learn about the new consumption map of ByteDance
根据36氪的消息，2021年，抖音本地生活整体GTV（Gross Transaction Value，总交易额）为101亿元。在GTV构成方面，到餐业务为65.67亿元，到综业务为33.6亿元。
截止今年上半年，抖音本地生活的GMV（Gross Merchandise Volume，商品交易总额）已经达到了220亿元。而去年，抖音本地生活GMV目标为200亿。这意味着，只用了半年，抖音本地生活完成量就超过了去年全年的目标。
 独家 | 抖音推出“团购配送”，探索外卖新模式，Tech星球，2022-07-15
- Xiangpiao lost 129 million yuan in the first half of the year. Zhong Xue promoted coffee flash, and Maotai ice cream was added to cover 10 provinces. Tims coffee announced the sales performance of Tiktok, and the drought in France affected the milk price
- In July, innovative keywords, yogurt bubble, pet companion, large bucket of tea… Daily new product soup