The fourth day of the strategy research experience: mass consumption and high-end brands, all need to constantly cultivate "internal strength"
Strategy: Liao Ling, Cao Liulong
Today we have researched a light luxury store and high-end store of a brand-name women's listed company, and a baked food listed company. From the perspective of strategic researchers, our feelings are:
Differentiated brand positioning is the key to the “Red Sea†competition in baked goods. Take the bakery companies we surveyed as an example. There are more than 50 competitors of the same type in Shanghai, and the market is very competitive. In addition, it is difficult for companies in Guangzhou to pay attention to the “street shop†food culture. Entering the market, there is not enough competitive advantage. On the whole, the baked food market is reflected in the “Red Sea†competition. Different brands have certain customer loyalty. Although the baking market is large enough, it must have differentiated brand positioning to be leading. The company's positioning is relatively niche, focusing on the “exquisite gift master†brand for holidays, the overall gross profit margin is higher, and the growth rate of revenue and profit is relatively stable.
Mass consumer goods are facing cost pressures, but price increases are not “one-stopâ€, and product and structural upgrades can withstand the negative effects of rising costs. The bakery companies we surveyed reported that labor, rent and raw material costs have risen in the past period of time. Since the price of the company's products has not risen in the same way, it has brought a lot of pressure on the gross profit margin. The company's response measures were product upgrades, product structure adjustments, and store service upgrades, which made the company's profitability not rise and fall in the context of rising costs. The company's approach has certain reference significance. Generally speaking, the competition in the mass consumer goods market is fierce. Blind price increases will only result in a decrease in the share. The upgrading of products, marketing and services is basically "internal strength."
First-line stores have proven the recovery in demand for mid- to high-end women's wear. Today we surveyed two stores of a clothing listed company, which are positioned to locate the luxury market and the mid- to high-end market. We can feel the recovery of demand for mid-to-high-end clothing. The 16-year performance of stores targeting the luxury market has doubled compared with 15 years; the stores targeting the mid- to high-end market have not had year-on-year data since the opening of last year, but the monthly average in recent months. The turnover has also maintained a rapid growth.
A case of excellent women's brand management: refined management for member customers. By comparing the operation and marketing strategies of the two stores of the women's wear company (upper frequency, discount, etc.), we can see the company's efforts under the refined management of member customers. Positioning light luxury stores: membership requires a single consumption of more than 20,000, the frequency of the new frequency once every two weeks, never discount sales; positioning high-end stores: membership spending more than 10,000, the new frequency is about monthly At one time, the Spring Festival will carry out about 70% discount activities. At the same time, we also noticed that although the two stores are in the same mall, they do not share member information, and different consumer groups do classification management.
A chain baking company in Shanghai (March 2, morning)
Food & Beverage: Wang Yongfeng, Zhang Zhiwei
Product situation : The company locates exquisite gift masters, the average customer price is 170-180, the customer price is 320-330 during the festival period, the customer price is much higher than the bread baking enterprise, and has been rising. The company's main products are cakes, festive folk products, Chinese and Western-style cakes and fruits, accounting for 34%, 34%, 28%, and 4%, respectively, with gross margins of 87%, 61%, 38%, and 35%, respectively. In the future, the company will focus on the development of cake products, reduce the proportion of festive folk products such as moon cakes, and reduce the dependence on moon cakes. It is expected that the company's sales in each quarter will be smoother and the gross profit margin will increase.
Store status : There are currently about 600 stores, of which about 500 are self-operated stores, 85% of direct-operated stores, 15% of franchise stores, and 30% of franchise stores in the future. The store is located in a street shop, requiring a store to be 7-10 km away. The number of stores with a single store sales income of 3 million, 6 million, and 8 million each accounted for 30%. The store matures for about one year. The company conducts comprehensive evaluation through store revenue, business performance, and home sales ratio to determine the increase or decrease of stores. At the same time, the company is upgrading its stores to build a flagship store that integrates logistics, home delivery, product display and image promotion.
Regional development : The company's stores are mainly concentrated in Jiangsu, Zhejiang, Shanghai and Sichuan and Chongqing, and there are more than 300 direct stores in the above regions. The company's profits in Ping and single stores in Jiangsu and Sichuan and Chongqing are relatively high, with the company's sales in Wuxi, Chongqing, Nanjing and Chengdu. The company has more than 50 stores in Shanghai. In recent years, the number of stores in Shanghai has been slowly declining. The main reason is that the company will adjust the location of the store when the contract expires, the business district changes and the regional layout changes.
Personnel and incentives: The company will face personnel bottlenecks in the process of expanding stores and regions. The ability of regional managers and store managers to sell regional performance is relatively large. At present, such talents are relatively scarce. The company's incentives for employees are good. The store manager's bonus is closely linked to the store's revenue and turnover, and the employee's salary is higher than other chain stores' 20% slogan to enhance employee enthusiasm and cohesion.
Financial situation: The company's gross profit margin has remained above 60% since 2011 and continues to rise. The increase in gross profit margins includes the increase in discounts, the control of raw materials, the optimization of suppliers and the expansion of products with high gross profit margins. The rising sales expense ratio is mainly due to the increase in employee salary levels and the increase in store rents. At present, the company's product price adjustment can cover the impact of packaging material prices, labor costs, and rental increases.
A light luxury brand store in Shanghai Kerry Centre (March 2nd morning)
Textile clothing: Yan Hanjie
1. The store opened for one or two years and the sales area is over 70 square meters. The brand sold was established in the United States 15 years ago. The brand is actually the name of a person. This person is a master of tattoos in the United States. Many of his works are in American museums. Just 15 years ago, just another designer. He is a very famous designer who made jeans. He took a look at the work of Master Tattoo, so he made a joint venture company and turned tattoo into a product.
2, the monthly sales of the store is the best in the third floor, the peak season, such as just in February, the peak season, more than 1 million, compared with 850,000 in the same period last year.
3. Few brands compete with the brand. DAZZLE or other brands on the same floor are partial occupations, ladies or leisure, but there are fewer tide brands to compete with the brand, so the competitive advantage is very large. And many people today still prefer trendy and fashionable clothes.
4, the age of the consumer group is very wide, there are some teenagers, there are also in the 60s, but the most around 30 years old. The ratio of men to women is 4.5 to 5.5, because some girls also like to wear loose men. The proportion of old customers is very high, which can account for 70-80%.
5, the price of the product, T-shirt if the background color is 1680 yuan, plus the pattern is 1780 yuan, men and women, pants are the same, then silky fabric is more expensive, to 2680 yuan, a down jacket in winter On the 7000-8000 yuan, the hat is generally about 1450 yuan, and the individual is around 1850 yuan. The package depends on the material, and the leather is more expensive. It costs 7680 yuan. Lighter will be cheaper, 3680 yuan.
6, the rate is very high, there are clothes, shoes, TOPS, bottoms, will also match the jacket, and the brand's clothes are rarely single, are complete sets. Men's clothing is also a complete set into a series, it is more difficult to match the general clothes to buy back, so it is normal for one person to try 20 pieces of clothes in the store, because it must be tested. There are a lot of clothes that look similar, but the effect is completely different. There are fresh and elegant, and there are bright and fashionable, so many men may buy 3-4 sets at a time, and women buy 5-6 sets are normal. Therefore, the rate is high. In addition, the shopping malls in the Kerry Centre are not very mixed. Although there are no more foreign exchanges, the transaction rate will be higher.
A memory cotton household products Shanghai dealer (March 2 afternoon)
Light Industry: Ren Shangwei
Memory cotton mattresses and memory foam pillows are relatively high-end household products in China and are still in the consumer education stage. Compared with traditional mattresses and pillows, memory foam has the characteristics of slow rebound, memory foam mattress and memory cotton pillow can protect the human cervical and lumbar spine. Consumers who have a certain pursuit of quality of life often choose to purchase memory cotton household products. The quality of the company's memory cotton products is at the leading level in the market, and it is in an advantageous position in the competition of memory cotton products; however, the competition with traditional mattresses is still fierce, and it needs to be further promoted to consumers to open up market space. The company will continue to position itself in the mid-to-high-end market, taking into account the catering of consumer preferences and the guidance of consumer attitudes, and gaining further growth in sales revenue and profits by enhancing brand power.
The company attaches importance to the development of channels, and it is the main direction for future development. The number of stores is in the expansion stage, and there are currently more than 100 stores nationwide, and this year's plan is greatly increased. At present, most of the provincial capital cities in China have already had direct stores or dealership stores. The next development focus is on large-scale expansion in prefecture-level cities, and focuses on developing strategic alliances with upstream and downstream. The company attaches great importance to the use of resources in the home building materials city, strives for its superior resources, and seeks efficient ways of cooperation. The establishment of direct stores is very necessary, especially in big cities, because it can help companies get first-hand information on the market.
The company takes into account both offline and online marketing and promotion, with offline and online supplements. The e-commerce process of furniture products is in its infancy. Before consumers decide to buy home products, they often need to get experience in the store scene and listen to the marketing staff's advice. In terms of specific marketing forms, advertising should be targeted at precision marketing. Otherwise, it is better to use the budget for offline promotion or promotion activities, such as residential community promotion activities, or organizing promotional activities for specific groups of people. The e-commerce platform can serve the effect of serving physical stores, diverting channels and improving operational efficiency. The company participates in the exhibition of household products in major cities, and puts advertisements on the high-speed rail line to enhance the brand image, expand its influence, and help dealers to promote.
In the future, the company will continue to expand its product category and increase customer unit price to achieve good growth. Mattresses have a long service life, and their replacement is often accompanied by home purchases and renovations. Therefore, the active or not of real estate transactions has an important impact on mattress demand. Affected by the real estate market, the consumer environment is not as good as in previous years. Behind the increase in customer unit price reflects the development trend of consumers purchasing one-stop shopping products. On the one hand, it provides better service for consumers and enhances brand influence. On the other hand, the company has also achieved better scale benefits.
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