红餐网 . 以下文章来源于红餐网 ，作者红餐编辑部 做餐饮，上红餐 ！关注我，干货多！ 本文来自微信公众号： 红餐网 ，作者：李金枝，编辑：方圆，原文标题：《闭店率超30%！大批餐饮店加速"逃离"商场》，题图来自：AI生成 大批餐饮店仍在加速"逃离"商场。 "投资近300万，撑了一年半还是要关店了。"在成都大魔方开火锅店的小昭 （化名） 感到商场的生意越来越难做了。他2023年入驻大魔方，开业到现 在人气一直不高，长期处于亏损状态，准备下个月关店了。 在黑龙江凯德广场开儿童餐厅的裴丽 （化名） ，上个月主动搬出了商场，在附近的商业街重新开业了。原因是商场希望她在另一家凯德广场开2 店，"开了等于白扔钱，这边商场的人气也大不如前，谈了几次没成功，就撤店了。" 除此之外，像北京的东南亚大排档"奈斯椰"已宣布不再与五棵松万达广场续约，并于2月15日撤离商场；青岛创意融合菜品牌银棠·新中餐也关闭了青 岛崂山金狮广场店、金鼎利群店等3家门店；西安的韩式烤肉品牌"宽炉烤肉"已先后撤出大悦城、万象天地、合生汇、大都荟等商场…… 去年10月，红餐网 曾报道过 ，在商场客流量下降、租金高企不下、各种隐形要求不断增加的多种因素下 ...

Core Insights - The article emphasizes the critical importance of learning ability for CEOs in navigating the rapidly changing market landscape, particularly in China, which is characterized by diverse cultures and demands [3][4] - It highlights the necessity for CEOs to gather information from seemingly unrelated fields to enhance their strategic thinking and decision-making [3] - The narrative includes examples of CEOs who successfully pivoted their business strategies based on insights gained from broader market understanding [3] Group 1: Learning Ability and Market Adaptation - CEOs must develop strong learning capabilities to adapt to significant market changes expected in the next few years [3] - The article illustrates that many CEOs initially overlook the relevance of information from different sectors, which can lead to innovative ideas and new directions for their businesses [3] - The case of a CEO who shifted focus from pediatric to adult medicine in response to declining birth rates exemplifies the need for agility in business strategy [3] Group 2: Broader Knowledge and Experience - The article suggests that knowledge from history, geography, and military strategy can provide valuable insights for business leaders [3] - The author shares personal experiences of engaging with various societal roles, which enriches the understanding of market dynamics and consumer behavior [3] - The concept of "regional influence" on entrepreneurial characteristics is discussed, highlighting the historical significance of certain areas in producing successful leaders [3] Group 3: Future Directions and Support - The company plans to continue its "strict selection" process to identify and support promising CEOs for long-term growth [4] - There is an invitation for further engagement and discussion for those interested in expanding their horizons and exploring new opportunities [4]

Core Viewpoint - The Chinese restaurant industry is experiencing a notable recovery driven by a shift in policy focus towards expanding domestic demand, with significant growth in consumer confidence and spending observed in the first quarter of 2024 [1][2]. Group 1: Market Performance - The Hong Kong restaurant index has rebounded over 20% since April 22, reaching around 787 points, with several restaurant companies like Xiaobai Xiaobai and Jiumaojiu showing positive performance [1]. - In Q1 2024, the offline consumption heat index increased by 14.2% year-on-year, with the dining sector growing by 14.5% [1]. - The overall revenue of the domestic restaurant industry in 2024 is projected to reach 55,718 billion yuan, marking a 5.3% increase compared to the previous year [2]. Group 2: Revenue and Profit Growth - The restaurant sector has shown double-digit growth in both revenue and profit, with 17 listed restaurant companies reporting an 11% increase in revenue and a 10% increase in profit for 2024 [5][6]. - The coffee and tea segment leads in revenue growth at 22.5%, while traditional Chinese dining (excluding hot pot) and fast food show growth rates of 6.3% and 5.6%, respectively [7]. Group 3: Store Expansion and Market Dynamics - The total number of restaurant stores increased by 20% in 2024, reaching 133,549, with coffee and tea stores growing by 24% [9][11]. - The closure rate of restaurants has risen to 61.2%, indicating a significant industry reshuffle [5]. - The trend of down-market expansion is evident, with 52% of restaurant stores located in third-tier cities and below [13]. Group 4: Strategic Adjustments and Innovations - Companies like Haidilao are adopting franchise models to penetrate lower-tier markets, with over 70% of franchise applications coming from these areas [14]. - New business models are being explored, such as Kudi Coffee's convenience store concept and Guoquan's community kitchen strategy [15]. - The restaurant sector is expected to stabilize in Q2 2025, with a potential recovery in valuation and fundamentals as seasonal demand increases [16].

以下文章来源于雪豹财经社 ，作者高越 雪豹财经社 . faster , deeper and wiser 盒马创始人侯毅花9年没能完成的目标，新任CEO严筱磊用9个月时间实现了。 卖身危机被化解的盒马，准备大干一场。 一家公司的成长历程往往呈现扩张探索与资源聚焦的交替循环，松开拳头是寻找新的方向，当明确了下 一阶段的业务重点时，就会握紧拳头。 如今的盒马，到了重新握紧拳头的时刻。 严筱磊上任后，盒马只聚焦于盒马鲜生和盒马NB两种店型，其他店型都进行了精简和调整。 去年一年，盒马新开门店有三分之一开在二三线城市和县城，很多新店成了当地的"排队王"。 今年盒马计划再开100家店，但在低线市场，它将面临与多个新零售品牌的竞争。 2024年最后一天，盒马在一封全员信中披露，公司连续9个月整体盈利，且增长幅度达双位数，顾客数 量增长超50%。 图片来源：小红书@annezang 从去年3月前的上市计划搁浅、被传卖身，到今年以来大刀阔斧地开店，短短一年间，盒马命运逆转。2 月中旬，马云现身盒马长沙门店，阿里巴巴又在财报业绩会上明确表示，当前没有出售盒马的计划。 图片来源：《2024盒区房报告》 盒马NB则更倾向于对价格更 ...

Core Insights - The article highlights the vibrant consumption pulse in lower-tier markets, particularly during traditional events like temple fairs, which serve as a unique window into the economic vitality of county-level areas [1][2] - The growth of the food and beverage sector in these markets is driven by a large population base, increasing consumer spending power, and relatively low operating costs, attracting numerous brands to expand their presence [1][3] Group 1: Market Dynamics - The temple fair in Shangqiu City, Henan Province, exemplifies the lively consumer atmosphere, drawing residents from surrounding towns and significantly boosting sales for local vendors [2][3] - The retail sales of consumer goods in county and rural areas accounted for 40.2% of the total social retail sales in the first quarter of this year, reflecting a 0.1 percentage point increase from the previous year [3] Group 2: Brand Strategies - Major food brands like Haidilao and Xibei are increasingly focusing on lower-tier markets, with over 70% of franchise applications coming from third-tier cities and below, indicating strong demand [5] - New tea beverage brands, including Mixue Ice City and others, are aggressively targeting lower-tier markets, with Mixue establishing over 30,000 stores, positioning itself as a leader in this segment [5][6] Group 3: Challenges and Competition - Despite the opportunities, brands face challenges in penetrating lower-tier markets, as evidenced by the struggles of mid-to-high-end noodle chains that have not seen significant success despite attempts to lower prices and open franchises [6] - The competitive landscape is tough, with established players like Mixue creating significant barriers to entry for new brands, necessitating a clear understanding of target demographics and innovative product offerings to succeed [6]

Core Viewpoint - The restaurant industry is experiencing a significant wave of closures in shopping malls due to declining foot traffic, high rents, and increasing operational costs, leading to a challenging environment for both malls and restaurants [3][6][23]. Group 1: Current Trends in the Restaurant Industry - Many restaurants are closing or relocating from shopping malls, with notable examples including "奈斯椰" in Beijing and "银棠·新中餐" in Qingdao, indicating a broader trend of withdrawal from mall locations [2][3]. - A report indicates that by 2024, 34.9% of shopping centers will see more closures than new openings, suggesting a growing vacancy rate in malls [3][12]. - The average rent for shopping mall spaces remains high, with a slight decrease of only 0.06% year-on-year, making it increasingly unfeasible for restaurants to operate profitably [22][23]. Group 2: Challenges Faced by Shopping Malls - Shopping malls are facing a saturation of locations, leading to diluted foot traffic, which negatively impacts restaurant patronage [8][10]. - Many malls have outdated designs and layouts that do not cater to modern consumer preferences, further diminishing their attractiveness [13][14]. - The homogenization of brands across malls has led to a lack of differentiation, making shopping experiences feel repetitive for consumers [17][18]. Group 3: Future Outlook and Opportunities - Experts predict that the survival of mall-based restaurants will remain difficult for at least the next two years, with a potential recovery not expected until then [5][6]. - A shift towards "downward" strategies is emerging, where restaurants are increasingly looking to open in lower levels of malls or in less saturated markets, such as county-level cities [29][32]. - The underdeveloped commercial real estate in lower-tier cities presents opportunities for restaurant brands to establish themselves in less competitive environments, where consumer demand for quality dining experiences is rising [35][36].

Core Viewpoint - The article discusses the upcoming IPO of the tea brand "Hushang Ayi" on the Hong Kong Stock Exchange, highlighting its rapid expansion and market positioning in the competitive new-style tea beverage industry [2][3]. Group 1: Market Positioning and Expansion - Hushang Ayi is strategically focusing on the lower-tier markets in China, claiming a strong market position among mid-priced tea brands [3][4]. - The brand plans to expand its store network from 5,307 at the end of 2022 to 9,176 by the end of 2024, with 99.7% of these stores operated by franchisees [2][6]. - As of the end of 2024, Hushang Ayi will have stores in over 300 cities, with 4,629 located in third-tier cities and below [4][3]. Group 2: Franchise Model and Financial Performance - Hushang Ayi relies heavily on a franchise model, with 99.7% of its stores operated by franchisees, which allows for rapid expansion but poses management challenges [6][7]. - The average single-store GMV decreased from RMB 1.6 million in 2023 to RMB 1.4 million in 2024, while total revenue slightly declined by 1.9% from RMB 3.348 billion to RMB 3.285 billion [6][7]. - Franchise income accounted for 96.5% of total revenue in 2024, indicating a strong reliance on franchisee investments [7]. Group 3: Competitive Landscape and Future Outlook - The new-style tea beverage market is entering a phase of intensified competition, with brands struggling to differentiate themselves [9]. - Hushang Ayi has introduced multiple brand concepts, including "Hushang Ayi," "Hukafe," and a lighter version targeting lower-tier cities, to capture diverse consumer preferences [5][9]. - Analysts predict that 2025 will mark a critical period for the coffee and tea beverage sectors, with significant challenges ahead, but also potential growth opportunities in supply chain management and overseas expansion [8][9].

Core Insights - The shared charging treasure industry in China's lower-tier cities presents a significant market opportunity, with a supply-demand imbalance indicating a potential market worth billions [1][12] - The penetration rate of smartphones in county markets reached 92% in 2022, yet public charging facilities cover less than one-third of that in first-tier cities, highlighting an underserved market [1] Market Characteristics - In a county in Shandong, the largest commercial complex has over 20,000 daily visitors but only fewer than 20 shared charging devices, indicating high demand and low supply [2] - Consumers in lower-tier cities exhibit a 27% higher immediate demand for shared charging treasures compared to first-tier cities, while the supply is only 40% of that in first-tier cities [2] - Key characteristics of the county market include concentrated consumption scenarios, low price sensitivity among users, and a lack of intense competition, with leading brands having less than 15% penetration [2] Business Model Innovation - Traditional direct sales models struggle in lower-tier cities due to high operational costs and complex local networks, prompting companies like Kunpeng Shared Technology to adopt a differentiated approach through a city partner agency system [2][4] - This model fosters a symbiotic relationship between headquarters and agents, creating a unique penetration network [4] Operational Strategies - The company employs a smart operation system for real-time monitoring and cloud algorithms for efficient charging treasure circulation, leading to a device turnover rate 1.8 times higher than the industry average [4] - A tiered profit-sharing mechanism incentivizes agents while preventing unhealthy competition, resulting in a 300% annual growth rate in device coverage in regions using this model, compared to 120% in direct sales areas [4] Customization and Local Engagement - The company has implemented customized solutions for different scenarios, such as waterproof charging treasures in tourist areas and integrated devices in local markets, increasing usage rates by 40% [6] - Establishing deep relationships with merchants through a growth system and a "charging treasure partner" program enhances local engagement and operational efficiency [7] Dynamic Pricing Strategies - The adoption of a "tide pricing" algorithm allows for flexible pricing adjustments based on demand, increasing average transaction value by 15% while reducing user complaints by 60% [8] Economic Impact - Each 100 devices installed can create eight jobs and increase local merchant foot traffic by 12%, contributing over 500,000 yuan in annual tax revenue [11] - The charging treasure cabinets serve as new entry points for offline traffic, with a 23% conversion rate for local users into other services [11] Digital Infrastructure Development - The establishment of a charging network across county consumption scenarios is creating a data goldmine for insights into consumer behavior, aiding local governments in commercial planning [11] Conclusion - The shared charging treasure market in lower-tier cities is not merely a scaled-down version of urban markets but represents a redefined growth opportunity, bridging the digital divide and energizing local economies [12]

Group 1: Company Overview - The company "Mingming Hen Mang" was formed through the strategic merger of "Snacks Busy" and "Zhao Yiming Snacks," establishing a network of 14,394 stores across 28 provinces in China within 8 years [1] - The company's GMV is projected to exceed 55.5 billion yuan in 2024, with an average of 21 new stores opening daily and over 1.6 billion transactions throughout the year [1] - Revenue surged from 4.286 billion yuan in 2022 to 39.344 billion yuan in 2024, demonstrating the effectiveness of its "low-margin, high-volume" business model [1] Group 2: Market Strategy - The company's success is attributed to its deep integration with China's urbanization process, particularly in capturing the county-level economic benefits [3] - By placing 58% of its stores in county and town areas, the company fills the gap between international brands and local small shops, addressing the high demand and low supply in these markets [3] - The company employs a pricing strategy that is 25% lower than traditional supermarkets, promoting consumption equality and offering products like sugar-free yogurt and imported snacks at urban-rural parity [3] Group 3: Business Model Innovation - Unlike traditional snack companies, the company has created a unique value chain by collaborating with 50% of the top food companies in China to reduce costs and enhance quality control [5] - The company utilizes a bulk sales model, with over 40% of sales coming from loose items, allowing for flexible packaging and a lower barrier to trial [5] - The revenue model is primarily based on product sales (99.5%), disrupting the traditional franchise model by leveraging scale to benefit franchisees [5] Group 4: Challenges Ahead - Despite its leading position in the snack retail sector, the company faces risks related to category expansion, as the introduction of new product lines in 2025 may dilute its core snack business [7] - The saturation of the county-level market is a concern, with the average population served per store dropping to 23,000, leading to increased internal competition among franchisees [7] - The company must balance the direct supply from manufacturers with the need for product differentiation, especially given its annual procurement volume exceeding 30 billion yuan [7] Group 5: Market Implications - The company's IPO journey reflects the capitalized demand for consumption upgrades in the lower-tier markets, as "quality-price ratio" becomes a key decision-making factor [8] - The company's approach to supply chain reconstruction is reshaping the landscape of China's fast-moving consumer goods market [8] - Maintaining a 25% price advantage at a large scale will be crucial for the company's long-term value assessment in the Hong Kong stock market [8]

Group 1 - The core viewpoint of the article highlights the IPO of Hunan Mingming Hen Mang Commercial Chain Co., Ltd., a leading snack retail chain in China, which aims to leverage its extensive network and low-cost strategy to capture market share in the competitive landscape [1][12] - The company has over 14,000 stores and reported annual revenue of 39.3 billion yuan and a GMV of 55.5 billion yuan, making it a focal point for capital market attention [1][2] - Mingming Hen Mang was formed through the merger of two popular brands, rapidly integrating resources to cover 28 provinces and over 66% of its stores in county and town markets, with a membership base exceeding 120 million and a high repurchase rate of 75% [2][3] Group 2 - The company's growth strategy is characterized by a "let profit grow" approach, maintaining a low gross margin of 7.5%, significantly below the industry average of 20.35%, which attracts price-sensitive consumers [5][10] - Mingming Hen Mang's operational efficiency is enhanced by a digital and supply chain system, including a self-developed "smart middle platform" for comprehensive digital management and a remote intelligent store inspection system [7][8] - The competitive landscape is intensifying, with rivals like Wanchen Group's "Hao Xiang Lai" expanding rapidly, leading to ongoing price wars and increasing consumer demand for healthier, personalized products [10][11] Group 3 - The company's IPO is seen as a watershed moment for the industry, raising questions about the sustainability of its low-margin model, which currently has a net profit margin of 2.1% [11][12] - Analysts suggest that the ability to leverage economies of scale to reduce costs and expand into higher-margin categories will be crucial for the company's future success [11] - The influx of capital may lead to industry consolidation, potentially sidelining smaller brands lacking supply chain and financial strength [11][12]