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useless in marketing, or are consumers smarter?
The secret recipe of Xingye “God of food” prototype stewed beef brisket bought for 5 million yuan failed to taste the beef brisket for 150 yuan. It’s not the restaurant’s fault, it’s your fault.
Just like you beat garlic with a knife, the garlic is not broken, but the knife is broken. It is not Zhang Xiaoquan’s fault, it is your fault.
But according to the same routine, what diaoye gained eight years ago was a financing of 60 million yuan and a valuation of 400 million yuan with two stores.
Eight years later, what Zhang Xiaoquan and Zhong Xuegao have gained is the continuous peeling and group ridicule on the Internet.
Is it the poor brand management? Or is it more difficult for consumers this time? Is new consumption coming to an end from its rise to its development and then to its peak?
The rise of Internet popularity and the formation of “routine”
To talk about new consumption, we must first talk about what it is.
In government documents, new consumption is “a new consumption behavior driven by new technologies such as digital technology, new business models such as online and offline integration, and new consumption relationships based on social networks and new media”.
In the statement of the investment agency, black ant capital defines new consumption as “Yuanqi forest, Helens, Xicha, etc., and believes that new consumption is to make consumers eat well and wear well, and also achieve the desired state of mind and spirit”.
The product may not be new, but the marketing method must be new. In today’s words, it is flow thinking, which not only provides practical value, but also emotional value.
According to this standard, diaoye beef brisket must be the first generation of online celebrities in new consumption.
According to the founder Meng Xing, the story of diaoye began in 2011. He ate a bowl of Jiuji beef brisket on the streets of Hong Kong and was shocked. He wanted to introduce it to the mainland, but the store opened a sky high price to embarrass him. In a fit of anger, he turned to Dai long, the “God of food in Hong Kong”, to buy the matching formula and launch his own beef brisket brand.
It is a typical shuangwen plot in which you loved to answer me but later I let you climb up.
But wait, why did this story start in 2011? What else happened before and after that year?
The year before, in 2010, China’s GDP surpassed that of Japan for the first time, becoming the world’s second largest economy. The following year, in 2012, consumption surpassed investment for the first time, becoming the first driving force of China’s GDP growth with a contribution rate of 55%.
Behind this milestone, there are two figures and a major event.
The first figure, 68%, is the proportion of the Chinese middle class in Chinese urban households in 2012. In 2000, this figure was only 4%.
Another, 77.4 points, is the consumer confidence index in mainland China given by the credit card giant MasterCard. The average score of the Asia Pacific region that year was 57.2.
One big thing is that wechat friends
First, in 2015, according to the definition of Credit Suisse, the number of middle class in China exceeded 100 million; Second, according to the McKinsey Global Survey, 55% of Chinese respondents believe that their income will increase significantly in the next five years. The third key indicator is that the number of transactions using Huabei payment exceeded 3.2 billion, an increase of 344% month on month.
The “one second opening, maximum credit limit of 50000 yuan” Huabei has increased the consumption power of low and medium-sized consumers who used to spend less than 1000 yuan per month by 50%.
Consumer sentiment has laid a solid foundation, and as in 2012, new traffic channels have boosted it. This is a short video platform. Next to it, there is a little book that is good at planting grass.
The most important thing is that live e-commerce is coming.
There was once a formula circulating in the industry: 5000 grass planting books + 2000 Q & A + a live broadcast by a super anchor = a new consumer brand. These traffic trains make it easy and fast to go from 0 to 1.
2018, when the anchor oligopoly took shape, also became the first year of Guochao.
The new tea shop, which sells a cup of tea for 20 to 30 yuan, has become a new generation of punch in points; New consumer brands such as Yuanqi forest, Zhong Xuegao, Santun and a half were born one by one.
Finally, after this stage of energy accumulation and development, new consumption ushered in a big explosion from 2020 to the first half of 2021.
Speed up the promotion and “hang up” the outbreak
Wait a minute. Do you feel some “anti common sense” at this outbreak time?
At any stage, whether the market is prosperous or not is always positively related to our optimistic expectations of future economic development and personal income.
The COVID-19 outbreak in 2020 is supposed to be a heavy blow to future economic expectations. Even if new consumption does not enter the ice age, it should be given a low temperature warning. Why does it enter the baking mode instead?
Because, the capital of the plug-in has entered the market.
According to CBN data statistics, in 2020, 550 institutions invested 470 consumer projects, with an average project investment of 105 million yuan.
What gives investors such a generous confidence? What else happened during the epidemic?
The answer is that money is not so “valuable”.
So everyone wants to seize some assets quickly. The global environment has generally released water, creating an extremely loose macro environment.
There is more money circulating in the market, and investment institutions have money in their hands. The last tuyere TMT track has fallen into a bottleneck. Coupled with favorable policies and expanded consumer demand, the new consumption track is simply in the right place at the right time.
In that year and a half, as soon as there were good projects in the new consumption track, the investment institutions were only faster than who made the money. For this reason, they even relaxed the requirements when doing their best to save the process.
Because even if it slows down a little, good projects will be snatched away by others
At the beginning of this year, the three major tea brands comprehensively lowered their product prices; The only western young master in the first generation of online popular restaurants has long sold rougamo for 7 yuan in a low-key way; Domestic beauty products that used to be “replaced by big brands” have begun to be “replaced” by more affordable products.
But in fact, in the face of this cold wave, if new consumer brands want to stay on the card table, they should not only choose low prices or “fake” low prices. If any consumer brand wants to obtain sustainable development vitality, it still needs to return to the core of consumer goods – solid product power.
China still has the most potential consumer market, and consumers still have untapped consumer demand.
Otherwise, where did Ruixing, which just announced its financial results, get more than 10 million new trading customers in the second quarter of the epidemic?
However, the main theme of this session of consumers has become rationality + cost performance + long-term value, and it is no longer sensibility + emotional premium + instant satisfaction.
Therefore, it is time for new consumer brands to enter the next stage. Next, let’s reduce the broadcast rate, fake low prices and product R & D expenses.
Author: Huang Wan; Source: 36 krypton Finance (ID: krfinance), reprinted with authorization. Reprint authorization and media cooperation: Jennifer (wechat: 15151447934);
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