The violent cold air will hit again, but the snack consumer market is showing the warmth of spring.
On January 31, there are less than ten days left before the Spring Festival, and the consumption of New Year's goods has also entered the final sprint stage. On the eve of the Spring Festival, whether online or offline, the sales of snacks and nut gift boxes have increased significantly, and the data of Vipshop, a special sale e-commerce company, shows that since the opening of the New Year's Festival on January 15, the sales of macadamia nuts, cashew nuts, pistachios and other nut snacks have increased by more than 5 times year-on-year, and the sales of nut gift boxes have also increased several times year-on-year.
In this year's New Year's consumption, snack consumption also continued the trend of "high quality" and "high cost performance" in previous years. After the post-90s and post-95s became the main force in the purchase of New Year's goods, nut consumption has also been escalating, peanuts, melon seeds and other roasted goods are still popular, at the same time, young people also prefer macadamia nuts, pistachios, pecans, almonds and other nut snacks, three squirrels, BESTORE, Baicaowei and other nut gift boxes with more diversified flavors have become the first choice of young people.
Before the Spring Festival is the traditional peak season for nut consumption, but this year's explosive growth of nut gift boxes is also the adjustment of snack brand giants for products, data show that nut gift box products are usually located between 50-200 yuan, and the cost-effective advantage is obvious. According to the ** report, the three squirrels revealed that macadamia nut products in 2023 will be 30% lower than last year, and the price will only be more than 20 catties. BESTORE also launched "the largest price reduction measure in the 17 years since the establishment of the brand" before the Chinese New Year Festival.
Snack brand competition for cost performance has also been transmitted to the e-commerce platform, on a number of e-commerce platforms, the number of nut gift boxes has decreased significantly compared with last year, of which discount retail has become a new position of competition between snack brands, the main brand discount of Vipshop will be introduced by the relevant person in charge, three squirrels, good store, Baicaowei and other well-known brands of nut gift boxes ** This year, the decline trend is obvious, on the platform, the number of nut gift box products within 55 yuan has increased significantly. In addition, a number of best-selling gift boxes are more than 10% lower than last year's products of the same specifications**.
According to industry insiders, casual snacks have entered a parity cycle. Founder** research report believes that with the increase in demand for New Year's gifts, and at the same time, in the context of consumers paying more attention to cost performance, products with high brand awareness and high cost performance will be more popular. CITIC ** believes that during the Spring Festival stocking period this year, snack gift boxes have performed well with gift-giving attributes and high cost performance, and leading enterprises are tight in stocking. Considering the staggered peak of stocking during the Spring Festival in 2024 and the continuation of channel and new product dividends, some snack companies are expected to increase their revenue by more than 40% year-on-year in the first quarter of 2024, while their profitability will increase year-on-year.
Text: Li Yijue.