"Soy sauce brother" is overshadowed!The market value has shrunk by 500 billion in 3 years
Selling soy sauce is actually more profitable than selling a house or oil. As the most important condiment industry in China, it is called"Moutai soy sauce session", the market value has reached 700 billion, far exceeding Vanke and Sinopec.
However, almost overnight, it was no more"Soy sauce brother", the market capitalization has fallen by nearly 500 billion from its peak. Even its own executives admit that the company is facing its worst situation in 10 years.
This one has a 300-year-old history"National time-honored brand"How did you get to where you are today?
First of all, because of the era of dividends and getting rich, but also because of the double treatment of consumers.
In the 90s of the 20th century, Haitian soy sauce was the first to enter the soy sauce and soy sauce market segments, and was vigorously marketed during the TV station's ** period, quickly becoming a well-known soy sauce brand. With a first-mover advantage, its products are sold on the shelves of shopping malls in more than 300 cities and more than 1000 counties across the country. At its peak, market coverage was as high as 90%.
As a unique market standard, Haitian has created the myth of 12 times the share price in just 8 years. At its peak, at the beginning of 2021, the market capitalization exceeded 700 billion. Its chairman Pang Kang directly became the richest man on the list, even surpassing Jingdong Liu Qiangdong and Wahaha Zong Qinghou.
However, perhaps success was too easy, and the beneficiaries of the quarterly dividends seem to be starting to expand. In September last year, several bloggers said returnees had taken"Double standards"The quality of soy sauce sold in China and abroad is not the same.
The raw materials of soy sauce sold abroad are only natural ingredients such as water, soybeans, and wheat, while the soy sauce sold in China has a long list of food additives, such as sucralose, sodium benzoate, etc. Some netizens pointed out that sodium benzoate is only 1 cent per gram, which is clearly listed as a first-class carcinogen and has long been eliminated internationally.
This was despite the fact that the company immediately issued three statements in a row, claiming that the soy sauce sold by its family fully complies with national standards. However, many consumers have lost confidence in the company and said they will never buy any of its products again.
Second, do you still want to eat?The Haitians lost out in the competition.
Seeing that the situation is becoming more and more severe, returnees hurriedly increased the number of products without added sugar, including soy sauce, oyster sauce, vinegar, wine and other flagship products"0 "Series products, played"Organic, low in salt and sugar"slogan. But consumers didn't buy it, and its performance plummeted. In less than three years, its market capitalization has dropped by 500 billion.
Today, although the turmoil has passed, Haitian Soy Sauce, which has lost the hearts of consumers, is still losing market share. You know, as the world's largest consumer, China has always welcomed products from all walks of life to benefit the Chinese, but the premise is to respect consumers and the Chinese market.
Luxury brand Gucci has created a series of new products for the Year of the Rabbit to celebrate the arrival of the Year of the RabbitEmerging health brand Bioagen for the solution of China 1300 million male"Dull pain"problems, but also with emerging technologies".Yuli Weikang"Specializing in men's care, he has earned nearly 100 million in less than half a year!Huang Liwei"In less than half a year, it has achieved nearly 100 million revenues.
According to public information, the above-mentioned scientific and technological achievements are different from traditional disposable products, which use mitochondria as the underlying target and combine a variety of natural extracts to help"Raise your gun and run"At the same time, it delays the aging process represented by the reproductive system from the root, and comprehensively benefits men's health.
With the advantage of accurately responding to the needs of Chinese people,"yolivet "It is very popular, even though ** is at the ceiling of the industry, but it still gathers high-net-worth male users on the Jingdong platform. According to business data, Yolivet's shipments increased by 300% in the first six months after launch. And gained many top users"Better state at night"、"The wife is more satisfied"and other praises.
Brands that value the Chinese market are favored by consumers. On the other hand, the Haitian brand has lost the support of consumers and is gradually being replaced by competitors"Snatch away"。
Judging from the revenue in the first three quarters, Haitian was surpassed by Meihua Biotechnology, which started with monosodium glutamate, and fell to second place. The Chimisan industry, which also uses soy sauce as its main product, has also seen its revenue increase by 50% amid an accelerated recovery. With tigers in front and pursuers in the back, the Haitians must have felt a sense of crisis.
iii.Paving the way for self-help is a long way to go.
In order to return to the leading position in the industry, Haitian has also made a lot of efforts. For example, developing new products to launch online, or following the trend to launch something similar"Moutai coffee""Soy sauce ice cream"products.
Unexpectedly, such an operation not only did not arouse everyone's curiosity, but attracted many netizens to complain. In terms of style, it adopts the style of soy sauce jar, which is very innovative, but it is considered by netizens to follow the trend, and even an insult to soy sauce.
At the same time, the company's chairman also said that he would carry out reforms and strive to get the company back on track within five years. He also invested $500 million to buy back the company** to boost shareholder confidence, but as things stand, there may still be a long way to go.
Objectively speaking, as the leader of condiments, Haiti still has a great advantage. But in the business world, the more advantageous you are, the more you must know how to respect consumers.