On May 11, Li Lingzi, founder and CEO of Sheng Xiangting, the founder of China’s hot brine creative light meal brand, said that Sheng Xiangting pioneered the standardization of hot brine and made solid seasoning bags, which promoted the rapid expansion of the brand. In the next three years, shengxiangting is expected to open 2000 stores.
At present, the scale of bittern market has exceeded 100 billion, but the serious homogenization problem is still the status quo of the industry. Now, shengxiangting has a new definition of “hot brine” in the bittern market, and the competition in the future bittern market will be more intense.
The first standardized operation of hot brine
In Li Lingzi’s opinion, thanks to the construction of high-quality supply chain and continuous product development, digital operation and lean management, shengxiangting has gone from Changsha to the whole country since its establishment in 2016, and has always been innovating and broadening the hot brine track. In the future, shengxiangting will deeply cultivate the hot brine market, with the development goal of becoming a national brand of hot brine.
It is reported that shengxiangting is a creative light meal brand focusing on hot brine and fresh brine. Through strategic cooperation with Tianwei food and Cuihong food, which are the first shares of Sichuan hotpot seasoning, and other top seasoning and raw material enterprises in the industry.
It is worth mentioning that although it is only five years since its establishment, shengxiangting has received tens of millions of yuan of investment from Tencent. “Next, shengxiangting will further enhance its digital operation, access the Internet of things, grasp taste standards and safety with more efficient and refined management process, continuously improve consumer experience and improve enterprise efficiency,” Li said
As for the criteria for selecting suppliers, Liao Zongyi, the founder of shengxiangting, said in an interview with Beijing Business Daily that shengxiangting mainly chooses listed companies and head enterprises to cooperate. Such companies are very standardized in both mode and operation process, which can also promote the better development of shengxiangting. At present, shengxiangting has built a high-quality, efficient and resilient supply chain system.
In addition to cooperating with Tianwei food and Cuihong food, shengxiangting also cooperates strategically with Juewei food’s supply chain enterprises. This standardized and reproducible hot brine solid substrate promotes the rapid expansion of the brand. Up to now, shengxiangting has expanded nearly 400 stores nationwide, covering Hunan, Hubei, Guangdong, Jiangsu, Jiangxi, Shaanxi, Henan, Guizhou, Shandong and other markets.
According to Li Lingzi’s assumption, in the next three years, shengxiangting will open 2000 stores, of which 15% – 30% are direct stores. In addition, shengxiangting will also plan to build a factory.
Solve the problem of industry homogeneity
In recent years, the consumption scale of bittern has been growing rapidly. According to the data of Fornos Sullivan, it is estimated that in the next five years, the annual growth rate of bittern will continue to increase, and the market scale will exceed 220 billion yuan by 2025.
“Small products, big market” has become synonymous with the bittern industry. Nowadays, Juewei food, zhouheiya, Ziyan, Huangshanghuang and other halogen brands can be seen everywhere in the streets of many cities. Juewei food has more than 10000 stores in China. However, the market share of these four brands is only 21%.
According to Zhu danpeng, an analyst of China’s food industry, the concentration of the whole bittern industry is not high, which leaves a certain space for the development of new brands.
However, product homogeneity, channel homogeneity, promotion mode homogeneity and other issues are the current situation of the bittern market. As the pioneer of the hot brine creative light meal brand, shengxiangting subverts the traditional technology of old brine, seizes the contemporary people’s concept of healthy diet, pioneers the standardization of hot brine, makes solid seasoning package, defines the concept of “hot brine” in the brine market, and realizes “one pot, one brine”.
Liao Zongyi said: “from the beginning, shengxiangting adopted Internet thinking to do catering industry, innovated the traditional hot brine industry, and made hot brine a favorite category of the new generation. The new generation has become the mainstream consumer group, and their consumption thinking and behavior are enough to influence the rise of the industrial end. With continuous innovation, shengxiangting has become a hot brine brand with high-frequency consumption of the new generation. “
In fact, Juewei food, zhouheiya, Ziyan and Huangshanghuang are all aware of the problem of homogenization in the bittern market. In recent years, they have begun to seek differentiated development. In April this year, Qiaqia food and Juewei food respectively announced that they plan to invest in Xinjin siyiwu equity investment fund partnership (limited partnership) in Chengdu, Sichuan, with an investment fund scale of 1.1 billion yuan. They mainly invest in Pan food and beverage industry, focusing on investment opportunities in halogen products, chain catering, leisure food, condiments, pet food, food supply chain and other industries.
In addition, brine giants have also turned their attention to the crayfish field. In 2020, Juewei food will set up a crayfish fund to invest in enterprises engaged in processing and selling crayfish, bullfrog, crab and other aquatic products through equity investment. Huang Shanghuang also tried the crayfish business. Zhou Heiya directly launched the crayfish brand “juyixia”.
“Different from the above-mentioned enterprises, shengxiangting has stepped out of the differentiated development path and initiated the standardization of hot brine, which constitutes its core competitiveness. But because its development is still in its infancy, its voice in the market needs to be strengthened. ” Zhu danpeng said. Photo by Qian Yu, Baiyang, Beijing Business Daily
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