On December 23, the supermarket chain Biyide issued an announcement on its WeChat***, announcing that it would suspend business from December 22, 2023. After this news came out, many consumers expressed regret and regret, and some consumers were surprised by the sudden closure of this hard discount store.
Biyide is a hard discount store brand founded by German Philipp Spangenberg in China, which has been operating for many years and has more than 200 stores in China. This supermarket is known for providing cost-effective goods and is known as the "happy house of the poor" by consumers.
In the past month, Biyide has been carrying out the "Surprise Price"** activity, and now it seems that there is some taste of clearance sale. Some consumers said that Biyide is a very conscientious supermarket, the goods are affordable, although there are not many varieties, they are all daily needs, and it is convenient to open in residential areas, so it is a pity to close the door.
The reason for the closure has not yet been announced. However, some industry insiders believe that the fierce competition in the market may be one of the reasons for the closure of Biyide. With the continuous development of the domestic retail market, more and more discount store brands have emerged, including emerging brands such as Discount Cow, Good Sale, Little Elephant Life, Hi Special Purchase, and the layout of large retail enterprises such as Wumart and Hema Horse. These brands are offering consumers cost-effective products in different ways.
In addition, the way in which a discounter obtains low prices is also one of the key factors affecting its competitiveness. Some companies will use cash procurement to purchase goods with a long shelf life to reduce procurement** and bear inventory risks;There are also those who sell non-well-known brand products or make private label goods to achieve low prices for their products.
Although the sudden closure of Biyide is regrettable, the development prospects of the discount store format in China are still promising. From the perspective of the overall development trend of foreign countries, there are tens of thousands of foreign discount store brands with large brands, and the market value is also very high. Therefore, there is a lot of room for the future development of this format.
It is worth noting that after receiving hundreds of millions of yuan in long-term financing, Biyide had planned to achieve the goal of having 800 stores by 2025. However, the sudden announcement of store closures also reminds other discount store brands to pay attention to business management and market changes while developing and expanding, and make timely adjustments and innovations to remain competitive and sustainable.
In short, the closure of the store has aroused the attention and thinking of consumers and industry insiders. For consumers, they have lost a supermarket that offers good value for money;For the discount store industry, it needs to learn from the closure of the store and strengthen its own management and innovation capabilities to adapt to market changes and meet the needs of consumers.
This article is from: Hot Letters.