At present, in the stock market environment, the "involution" of the new tea drink track continues to intensify, and all kinds of marketing wars continue to emerge, and the recent industry "group to participate in the war" gameplay is refreshing.
According to the Tianyancha app, recently, Chabaidao and Bawang Chaji have established a new company called "Sichuan Rongshang Jiahe Technology", with a registered capital of 50 million yuan. Among them, Tea Baidao holds 25% of the shares, Bawang Chaji holds 20% of the shares, and the remaining 55% is held by Sichuan Huizhijie Enterprise Management. Subsequently, a company called "Sichuan Tea Benyuan New Material Technology Co., Ltd. was registered and established, which was jointly held by Guochao Information Technology (Dongtai)**, an affiliated company of Bawang Chaji, and Sichuan Rongshang Jiahe Technology***.
Between friends and businessmen, the pace of cooperation is so urgent, what kind of development stage is the new tea industry in?
After the marketing war, the cooperation of new tea drink brands has become the norm
In recent years, the wave of new tea consumption has swept the domestic retail commercial market. From the first-tier city Wangpu points to the third- and fourth-tier city traffic arteries, you can see the figure of the head brand and the cutting-edge brand. In various business places, it is often next to each other, and the brand mascot has nothing to do to "fight" and create business topic gimmicks.
On the whole, the current tea brands can be roughly divided into four categories: the first category is the head brands that entered the market earlier and developed better, such as Mixue Bingcheng;The second category is the middle and new generation that bring new concepts of various tea drinks into the game, such as Hey Tea and Nai Xue's teaThe third category is the regional chain tea brands that mainly occupy the local market, such as Nanchang Kuncha and Changsha TeaThe fourth category is the self-owned brand stores operated by individuals.
With so many tea brands in the market, the market has already pushed the market into the stock era. According to analysts from the China Business Industry Research Institute**, the number of new tea stores in China will reach 55 in 202310,000, which means that the new tea drink track will be more crowded, and entrants are facing the pressure of survival competition in product innovation, store expansion, and first-class chain management, and "volume" is inevitable. But how to "roll" out of new ideas and "roll" achievements is the key point that the brand really focuses on.
Previously, the new tea beverage industry was in full swing around the first-class and cross-border co-branded marketing wars. For example, at the end of July this year, the new Hey Tea store in Suzhou Center opened, and the "9 yuan drink the whole field" activity was launched, and then the local tea brand 7 Fen Tian in Suzhou launched "8.".8 yuan a cup" activity, 100 percent tea, jasmine and so on to "buy one get one free" and other slogans to attract consumers. In terms of co-branding, Heytea's co-branded luxury brand Fendi and Nai Xue's co-branded "Fantesi" ** Universe similar activities have been common.
In this competitive landscape, the practice of friends working together is novel. In the case of fighting for each other, in fact, the brand has greater survival pressure, and the attention and popularity it can obtain are relatively limited, and based on long-termism, fighting the first war and other means are not conducive to the healthy and sustainable development of the industry. Under the change of consumer demand, it will become more and more inevitable for new tea brands to work together to achieve resource sharing.
Therefore, it can be seen that many new tea brands have made relevant moves. For example, as early as the beginning of December last year, Nai Xue's tea announced that it planned to invest 52.5 billion yuan to acquire Lele Tea 4364% of the shares, becoming the largest shareholder of the latter, Lele Tea became an associate of Nai Xue's tea, but will continue to operate independentlyIn January this year, Ningbo Yanzhi Rational Investment, an affiliated company of Shuyi Xiancao, invested 1.2 million yuan to obtain 60% of the shares of Shanghai Chayuewu Catering Management, the parent company of Nishang Tea Dance, and became the largest shareholder ......
Looking at the cooperation between Bawang Chaji and Chabaidao, it is not a relationship of annexation and acquisition, but a friendly hand in hand based on their respective independent operations, which is also related to the advantages of the two brands in the industry.
Tea Baidao is a local tea chain brand founded in Chengdu in 2008, with more than 7,000 stores nationwide, it sells an average of 500 million cups a year, and earns nearly 2 billion yuan in three years during the reporting period, proving to the industry that the high profit margin of the new tea franchise model has officially opened its IPO process. With the new tea concept of "original leaf fresh milk tea", Bawang Tea Ji started from Yunnan and swept the country and even the world. According to the data of Narrow Door Dining Eye, the number of Bawang Chaji stores worldwide has exceeded 2,513, covering 234 cities in China. This year, Bawang Chaji has received the investment of the United States hedge **coatue, with a post-investment valuation of up to 3 billion yuan, becoming a leader in Chinese tea drinks in the industry.
From this point of view, the cooperation between Chabaidao and Bawang Chaji can be called a "strong alliance", but how much imagination can such a cooperation open up?Perhaps we can take a look at the common forces behind the establishment of a joint venture between the two brands.
The future of the new tea beverage industry: the first chain to build and share
From the business scope of the two newly established companies, we can get a glimpse of the follow-up key directions of the two brands of Tea Baidao and Bawang Tea Ji.
Tianyancha news shows that the business scope of Sichuan Rongshang Jiahe Technology includes enterprise management, chain management services, social and economic consulting services, bio-based material manufacturing, standardization services, plastic products manufacturing, etc. The business scope of Sichuan Tea Benyuan New Material Technology Co., Ltd. includes new material technology research and development, technical services and sales of industrial textile products. According to this, the market generally believes that the joint venture between Tea Baidao and Bawang Tea Ji mainly revolves around the ** chain. And this direction of force is also in line with the current development trend of the new tea beverage industry paying more and more attention to the construction of the first chain.
The reason for this is that: on the one hand, the current chain rate of the new tea beverage industry is getting higher and higher. The "2022 New Tea Beverage Research Report" released by the China Chain Store & Franchise Association pointed out that from 2020 to 2022, the chaining rate of the new tea beverage industry increased from 412% to 552%, and the chain rate of the catering industry increased from 15% to 20 in the same period7%。At the same time, the number of brand stores continues to increase. According to the business data of One Glance, in the second quarter of this year, the total number of new stores added by the 20 new tea brands it tracked exceeded 2,000 per month, and the store expansion rate continued to rise in the third quarter, ushering in the peak of store opening in September this year, with 2,833 stores opened in a single month. As of October, the total number of existing stores in the overall industry was 99,772, and the 100,000 chain store mark was close at hand. WhileThe continuous expansion of the brand market scale also requires the upstream chain to change and have a faster response ability.
On the other hand, the health awareness of current consumers continues to increase, and new tea brands are needed to provide healthier and high-quality products. According to the survey of "Big Data Research and Consumption Behavior of China's New Tea Drinks", 494% of consumers would be concerned about health issues, 422% of consumers are more concerned about gaining weight. Focusing on the formula and raw materials of tea drinks, many consumers have doubts about questions such as "is the sugar content of milk tea high" and "whether there are trans fatty acids". In addition, according to the data disclosed in the "2023 Plant-based New Tea Drinks***", consumers believe that the raw materials are natural (62%) and the ingredients are fresh (56.).2%) is the most important feature of a healthy new tea drink.
Under such market demands, new tea beverage brands must adapt to the situation and launch healthy new tea drinks, and the relevant requirements are also fed back to the upstream, which requires stronger customization at the top of the chain to further control health standards.
In fact, most new tea brands did not have their own first-class chain system, but cooperated with different first-class merchants, so they often faced the pressure of **chain cost**. According to the prospectus of Tea Baidao, from 2020 to 2022, the cost of goods of Tea Baidao will be 54.9 billion yuan, 203.2 billion yuan, 260.4 billion yuan, and the proportion of cost to revenue has also increased from 50 in 20208% climbed to 61 in 20225%。In this context, the self-built chain system can obviously better control production costs and enhance the stability of the chain, so as to better meet the needs of consumers.
Therefore, in addition to Tea Baidao and Bawang Tea Ji, other new tea brands have also put the ** chain on the agenda. For example, Gu Ming spent 1 billion yuan to build a fully automatic light food beverage raw material processing base project in Zhuji, Zhejiang, to provide tea, fruit and other light food beverage raw materials for Gu Ming's tea drink system, and at the same time serve the first-class chain system in the surrounding areas of HangzhouTea Yan Yue Se also invested in 5200 million yuan to build a R&D and production base, which can cover 5000+ core raw materials in stores after full production**. The cooperation between Tea Baidao and Bawang Tea Ji to build a first-class chain, with the help of resource sharing, can undoubtedly create a stronger first-chain advantage, or can help the two brands create greater influence in the downstream.
In general, the previous IP co-branding, low-price ** and other measures of the new tea drink brand mainly created short-term influence, and from the perspective of long-term sustainable development needs, only by relying on a solid self-owned ** chain can we have a stable foothold in the future survival war. In this process, the linkage and integration of tea Baidao and Bawang tea will become more and more the norm, and based on this situation, the imagination space of the scale of the new tea beverage industry will also be further opened.
Author: tiny
*: Songuo Finance.