How persistent are the food in Shanghai?
How many netizens lined up at the gate of Qinghua restaurant to buy the delicious egg yolk in the spring?
Later, master Bao’s pastry in Beijing opened its first store in Shanghai. People who wanted to try fresh food discharged the momentum of three floors inside and three floors outside along the street, which made friends in Beijing feel confused.
This Spring Festival, the reporter witnessed the grand occasion of long queues at the door of many snack shops. This time, which school of online popular food was born?
there is a “national tide wind” in the snack industry
In the underground food square of ruiou department store in Jing’an Temple business district, the reporter saw that a snack shop called Hutou Bureau Standard Chartered cake shop was particularly popular. You need to queue up to order and pick up the goods… Although the clerk kept reminding customers that many popular snacks were sold out, he still couldn’t stop the high purchase enthusiasm.
According to the product list provided by the store, the food sold by this snack shop includes not only typical Western snacks such as cream puffs and tiger skin cake rolls, but also Hong Kong snacks such as egg tart, tapioca, barbecued pastry and so on. Taikang Golden Chicken Jiangxi Wannianqing Cement Co.Ltd(000789) biscuits are placed on the counter in the store, but they are clearly the representative of Shanghai style snacks.
When the reporter asked the clerk, where is the brand of the store and how many years of history? The clerk was stunned and only replied, “we are Hong Kong style snacks.”
Interestingly, when the reporter came to another snack shop called guanglianshen with a straight-line distance of less than 500 meters, he found that the star products that customers lined up to buy were also cream puffs, tiger skin cakes, cassava and cookies, but guanglianshen clearly printed the word “Shanghai style dessert” on the trademark.
So, where do these brands come from? What genre is it?
“Judging from the retro packaging and name, I think it’s a time-honored brand in Shanghai. It’s also a sense of ceremony to buy some and share them with your family,” Ms. Feng, a customer waiting in line, told the Shanghai Securities News
Another customer, Ms. Cheng, clearly told reporters: “this is not an old brand, but a Guochao snack brand that has sprung up in the past two years. In addition to Standard Chartered bakery of Hutou Bureau and guanglianshen, there are several similar brands, which are popular not only in Shanghai, but also in the whole country.”
capital has long been in favor of the new baking dessert brand
The reporter inquired on xiaohongshu and other social platforms and found that there were more than 10000 notes with the keyword “Standard Chartered cake line of Hutou bureau” and more than 4900 notes related to “guanglianshen”. In addition, luxihe, Momo dim sum Bureau and other brands have more than 10000 notes.
Judging from the public information, the name of Standard Chartered bakery of Hutou bureau looks very Hong Kong style, but it actually originated in Changsha, Hunan, the manufacturing place of online popular food. According to the industrial and commercial registration data, although the new Guochao dim sum brand has been established for less than three years. According to the plan announced earlier by the company, 30 stores will be opened across the country by the end of last year.
The premise of large-scale expansion is to obtain the help of capital. Standard Chartered cake Bank of Hutou Bureau obtained two rounds of financing from Sequoia Fund, IDG capital and GGV Jiyuan capital in March and July 2021 respectively. Among them, the financing obtained in July last year was nearly 50 million US dollars.
Since its establishment in June 2020, Momo dim sum Bureau has completed four rounds of financing. The investors include Qingliu capital, Yuanjing capital, early capital, today capital, etc.
Master Bao, who has a relatively long brand history, also started a new round of financing last year. It is said that the valuation was pushed to 10 billion yuan. Earlier, master Bao has obtained the investment of Tiantu and Kunlun capital.
Guanglianshen’s information is relatively mysterious. It only claims that one side makes Guangdong snacks and the other side makes Shanghai style snacks. Therefore, it is named guanglianshen. From its recent expansion rate, there is also a lot of capital behind it.
the next milk tea industry? Market elimination fast
According to the report of deppon securities food industry, the scale of China’s bakery market exceeds 200 billion yuan, the b-end “bakery +” business format rises, and the prospect of the track is like a rainbow. In addition, the net profit margin of bakery enterprises is between 8% – 15%, which is significantly higher than the average profit margin of 7.7% in the food industry, and the profit space is considerable.
From this point of view, many Guochao baking brands were attracted by capital soon after their establishment, which has its own reason.
A food industry analyst told the Shanghai Securities News that the development path of xinguochao snack brand is very similar to the new tea beverage industry represented by Xi tea and Naixue tea.
First, cater to the aesthetics of Z era in store decoration and product packaging. Then spread the brand image with the help of social media to shorten the distance with the main group of new consumers. Then, with the help of capital, it quickly completed the cross regional expansion and became a popular online payment that was hard to find.
However, there are almost no technical barriers in the food industry, which means that imitators will soon be welcomed after the popularity of popular models. It is difficult for brands to keep the dividend of innovation. At the same time, they will also face a series of challenges such as low repurchase rate and high homogeneous competition.
From the name looks like a time-honored brand to becoming a real time-honored brand, these Guochao new brands need to accept the test of time in all links such as network layout, supply chain, product innovation and quality control.
