Baking Track welcomes “Internet hot” New and old brands “Battle”

2022-07-28 0 By

Sun Jizheng reports from Beijing that queuing to buy dim sum has become a new consumption choice for young people on platforms such as Weibo and Xiaohongshu.Starting from 2021, local baking brands such as Momo Dim Sum Bureau and Hutou Bureau have just landed in first-tier cities such as Beijing, and soon a “cake is hard to get” situation has emerged. A large number of consumers are willing to spend hours in line, or spend dozens to hundreds of yuan to buy from “scalpers”.According to the side view of the industry and capital, since 2020, the baking industry ushered in the new round of investment boom, brands such as tiger, ink snack innings in 2020 before and after business, and with the power of capital to land a line market, hoping to brand HeGuoChao heat, in a few years time to like tea in the tea industry.In view of the competition pattern of Beijing bakery market, both traditional pastry brands and Western bakery brands have become competitors of this round of national fad bakery.Baking industry to “the China business news” reporter said, the baking industry in China is relatively mature, and many brands have mature imitation process and the emerging brand of product innovation in a short time easily learning and imitation by other brands, so the new baking brand will be able to attempt to settle down in Beijing, still need to try and explore more.In The Taigu Li sanlitun district of Beijing, a queue in front of a bakery, akin to a luxury store, surrounded by scalpers asking passers-by if they want to buy bread.From the consumers in line, these cattle bread at least need to increase the price of hundreds of yuan.What attracted these consumers and scalpers was the South Korean bakery brand Butterful & Creamorous, which was branded by many Internet celebrities at home and abroad on social media due to its luxurious store decoration and beautiful pastry shapes.Butterful & Creamorous is also known as one of the original “Influencers” bakeries.With the tea brands such as Xicha gradually sitting on the top of the tea industry, capital’s eyes are focused on the baking circuit.In the domestic market, the earliest known as “Internet celebrity pastry” is undoubtedly Master Bao. With the expansion of Master Bao, the legendary experience of its founding has also been talked about by many people. In July 2021, Master Bao completed a new round of financing, and its valuation of ten billion yuan has undoubtedly become the leader in the industry.Because master Bao’s “cake is difficult to find” in the early stage, many entrepreneurs and capital side believe that baking industry can also create the prosperity of milk tea industry.Subsequently, such as Mo Mo dim Sum Bureau, Hutou Bureau, Luxi River and other flagship national tide dim sum bakery began to gradually appear concurrent force.It is understood that the Luxi River and Jangji Peach Cake action was earlier, both entered Beijing in the second half of 2020.In 2021, Momo Dim Sum Bureau, Hutou Bureau and other brands entered the Beijing market successively, once again staged the “Xi Cha style” queuing grand situation, many consumers stood in line for several hours, just to buy dozens of yuan of dim sum.Baking brands such as Tiger Head and Momo Bakery have publicly apologised to consumers for long queues.In addition, brands such as Hutou Bureau and Momo Dim Sum Bureau will send samples of products and mazas to appease consumers in line, and encourage them to clock in on various platforms to exchange for prizes.While some consumers have expressed their dissatisfaction with the long queues on the platform, plenty are still willing to wait and punch their time cards.For the Bakery industry as a whole, the previous boom in pastries was the success of pure Western pastries such as The Dirty Bag in 2018, when hundreds of people queued up for the dirty bag at bakeries like Our Bakery.The reporter noted that in the “net red” bakery, its marketing focus on the country’s tide snacks, especially the product “western food do” characteristics are more obvious.However, the reporter found in the visit, in a Luxi River store in Chaoyang district, the store in order to clear the day’s inventory and hit the “buy two get one free” promotion, and when Luxi River entered Beijing in 2020, most of its stores also need to queue up to buy.Wang Yuxiao, the founder of Mo Mo Dim Food Bureau, admitted in an interview that the “inner roll” in the baking industry is serious at present. Wang Yuxiao believes that, especially in the catering and tea industry, imitation and copying of products among brands is inevitable because the production threshold of products is not high.For its part, Momo Dim Sum is still changing its form, hoping to maintain its brand’s popularity with innovation.Notably, Wang Said a new product is usually imitated by other brands within a month.”An experienced pastry chef can know the ingredients of a product after taking a bite”, so the brand side needs to keep innovating and the export side can stand firm based on the brand.Brand marketing expert of tongjiang told reporters that compared with milk tea market from scratch, traditional taste tome, Paris bei sweet bakery has been operating for many years, and these old bakery chain good play “price war”, namely, if there is a hot style products appear, the bakery chain can use their own supply chain advantage to civilian to change quickly, with grafting hot style product appeal.Therefore, it can be seen that this new round of baking brands emphasize their brand culture and social attributes, hoping to achieve a resonance with consumers.China has become the world’s second largest bakery market after the US since 2016, according to Data from CEIbs.From 2013 to 2019, the scale of China’s baking market remained above 220 billion yuan, and in 2020, the scale of China’s baking market reached about 256.7 billion yuan.According to the China Bakery Market Report 2020 released by Meituan-Dianping, the size of bakery stores in China grew by 21% in 2020, which is a rare segment that can maintain store growth in the face of COVID-19.As of the third quarter of 2021, Chinese bakery financing exceeded 2 billion yuan, according to Tianyan.According to 30,000 Capital Research report, the net interest rate of bakery food enterprises is between 8% and 15%, compared with the median net interest rate of a-share food sector enterprises is 7.7%.The “inner volume” mentioned by Wang Yu xiao can be seen in the number of bakeries in major business circles.Even though Beijing already has western bakery brands such as Yuanmaitou, Holilai, Miltome and British Time, and old traditional brands such as Daoxiangcun and Fuhua Zhai, a large number of dim sum brands with local characteristics are still coming to Beijing.Chaoyang Joy City, for example, includes daoxiangcun, Our Bakery, Gontran Cherrier, Papa Sugar, Luxi River and other professional Bakery shops.It is worth noting that Chinese brands such as Hutou Bureau, Momo Dim Sum Bureau and Luxi River, established in recent years, began to expand rapidly with the help of capital.Hutou Set a target of opening 100 direct-operated stores in core areas of first-line in 2021, while Momo Dim Sum will open seven stores at the same time after entering the Beijing market at the end of 2021.Media reports point out that in 2020, the chain rate of bread and dessert stores is 24%, higher than the overall catering industry 9%, but the overall number of chain brand stores is less than 1000.Wang Yuxiao thinks, at present the country’s largest bakery chain only more than one hundred million yuan, annual revenue industry is not absolutely the head of the brand, and do not rule out such as tea industry such as color of tea YanYue brand in the formation of regional market dominant position, in the baking industry, such as xi tea brand head still need a few years will gradually to hatch.Similarly, take Beijing as an example. Apart from western bakery brands such as Mai Shan Qiu, Paris Baguette and Michelin, traditional snack brands such as Beijing Daoxiang Village and Fuhua Zhai are also constantly making an impact on the “cake” industry.In the second half of 2021, Beijing Daoxiang Village will upgrade some stores to western-style baking rooms with bright kitchens and bright stokes. The person in charge of Beijing Daoxiang Village once said that the upgrading of Beijing Daoxiang Village is “in recent years, the baked cakes are gradually recognized by the market, and the time-honored enterprises should also keep up with the market trend and meet the needs of consumption”.”In terms of the form of chain stores, most of the bakery chains currently operate directly, which is mainly limited by the supply chain. In addition, the main bakery brand suppliers are basically the same, most of which are customers of Fonterra and BTG, so it is easy to imitate each other in terms of products and taste.”He Jun consulting senior chain management expert Wen Zhihong told reporters, such as rice fragrant village, Guangzhou restaurant and other traditional brands, there has been a fixed consumer group, and the greater impact of festival consumption;Although emerging brands are hot at present, it is still uncertain whether their brand stickiness can fix certain consumer groups.”Uncle Chace was also popular in Shanghai, but its products and brand positioning were not good enough, so it eventually declined.”Wen Zhihong said.