Recently, the fourth Isee top 100 list of innovative brands was released, and Bestore Co.Ltd(603719) popcorn Nanfang Black Sesame Group Co.Ltd(000716) pills and chocolate waffle crisps ranked among the top 100 in food category. The organizing committee said that the continuous innovation of the listed brands showed the innovation and transformation power of Chinese food.
From the industry’s first fresh fruit moon cake to bear hugging biscuit (cashew nut), and then to the snack fairy children’s snack series, Bestore Co.Ltd(603719) has been at the forefront of product innovation in recent years. In 2021, Bestore Co.Ltd(603719) R & D investment was 39.67 million yuan, with a year-on-year increase of 17.64%. R & D investment was increased for four consecutive years, with a compound annual growth rate of 18.46%. At the same time, we continued to promote the healthy nutrition of snacks, launched 19 technological innovations, and developed and mastered the application of processing technologies such as “three reduction” (oil reduction, sugar reduction and salt reduction), sugar free, oil-free baking and microcapsule embedding. In 2021, Bestore Co.Ltd(603719) optimized the product matrix around consumer demand, launched 565 new products throughout the year, and sold 33 spus for more than 100 million. As of the end of the year, Bestore Co.Ltd(603719) products covered 15 categories, with 1555 SKUs in all channels.
It is reported that Isee Innovation Award takes “innovation” as the core. With the persistence of professional authority and the dissemination of innovation, Isee Innovation Award discovers, commends and disseminates innovation from a multidimensional perspective. This selection covers product category, brand category, technology category, enterprise category and character category, and is evaluated according to the six dimensions of product innovation, consumption insight, user experience, scientific and technological leadership, business expression and consumer value.
Taking 2021 as an example, remarkable achievements have been made in Bestore Co.Ltd(603719) market segmentation through key technology breakthroughs and in-depth research and development. On the one hand, focusing on the special needs of subdivided groups and scenes, the company developed and launched a rich product matrix, including children’s snacks, fitness snacks, collagen candy snacks, breakfast and dinner substitute meals, festival gift snacks and other products. In 2021, the company developed 86 listed products and 47 reserve products. On the other hand, the performance of some market segments has improved significantly. The omni-channel terminal sales of children’s snack sub brand “xiaoshixian” in 2021 was 417 million yuan, a year-on-year increase of 41.17%.
Relying on differentiated product innovation, Bestore Co.Ltd(603719) reshape the mind of children’s snacks. The industry pioneered healthy lollipops for children’s snacks such as rabbit Hawthorn stick and bovine colostrum high calcium stick. 618 all channel sales increased by 266% year-on-year, with annual sales of 128 million yuan, growing into a star series products; Biscuits, puffs, puddings and other categories have also grown significantly, further meeting the needs of users of exquisite mothers.
Isee Innovation Award organizing committee said, “in this era of great industrial change, we have seen diversified innovation forces, the upgrading of traditional categories, the birth of new categories, as well as the dazzling brand concept, the deep cultivation and continuous innovation of the industry behind the products, and we have also deeply felt the power after the innovation and reform of Chinese food.”
