Lao Banzhai, located at No. 600 Fuzhou Road, Huangpu District, Shanghai, has recently been taken down the gold-lettered signboard of "China Time-honored Brand", which has attracted widespread attention. Since its opening in 1905, Lao Ban Zhai has attracted countless diners with its unique Zhenyang cuisine, however, due to poor management, this long-established restaurant ultimately failed to pass the review of "China Time-honored Brand".
This incident triggered thinking about the "China Time-honored Brand" brand. These signboards are not static, they are closely related to the business status of the brand. Once there is a problem with brand management, it may face the risk of being delisted at any time. What happened to Lao Banzhai is a vivid example.
Lao Banzhai was once famous for its saury wontons and saury noodle sauce, but as the market changed, these traditional specialties gradually lost their competitive edge. In Jiangsu, Zhejiang and Shanghai, saury wontons have become quite common, while Lao Banzhai is not significantly prominent in taste, and it is difficult to stand out in the fierce market competition by relying solely on the signboard of "time-honored brands".
At the same time, new F&B brands are emerging, attracting a large number of consumers with innovative products and quality services. In contrast, Lao Banzhai has exposed many problems in consumer evaluation, such as poor service, small portions, poor hygiene, etc., which reflect internal management problems. According to the Shanghai Commission of Commerce, the reason why Lao Banzhai was delisted was that his statement business data was extremely non-standardized, even "0".
The "China Time-honored Brand" brand has unique advantages in terms of historical and cultural accumulation, but at the same time, it is also easy to fall into the dilemma of aging products, difficult to break the circle of customers, and insufficient channel development. To rejuvenate the new consumer market, these long-established brands must innovate and reform.
However, some time-honored brands have chosen to "lie flat" in the market competition. For example, as a representative brand of Dalian dumplings, Qunyinglou did not highlight its own competitive advantages in the process of expanding the national quick-frozen market, nor did it create a single product with market topicality. The example of Qunying Building further confirms that poor management is the biggest reason for the delisting of time-honored brands.
On the other hand, some of the time-honored brands that have successfully transformed have demonstrated the power of innovation. Quanjude and Wufangzhai are typical examples. While maintaining their traditional strengths, they are actively developing new products, expanding into new markets, and connecting with younger consumers. These innovative measures have brought significant improvements in performance and injected new vitality into the time-honored brand.
In general, in order to survive and develop in a highly competitive market environment, time-honored brands must always remain vigilant, keep up with the changes in the consumer market, and continue to innovate and reform. Only in this way can they rejuvenate themselves in the new consumer market and continue to inherit and carry forward the traditional culture of the Chinese nation.