Investment Rating - The report indicates a positive investment rating for the snack collection store industry, highlighting its rapid growth and market potential [26]. Core Insights - The snack collection store industry is characterized by a direct procurement model, offering a wide variety of products at competitive prices, with a significant market expansion projected [12][18]. - The industry has evolved through various phases, with notable growth in the number of stores and market size, particularly from 2019 to 2024 [22][26]. - The report emphasizes the importance of a well-structured membership system and effective product selection strategies to enhance customer loyalty and sales [54][135]. Summary by Sections 1. Industry Overview - Snack collection stores, also known as bulk snack stores, eliminate the distributor layer by sourcing directly from manufacturers, focusing on low prices and product diversity [12]. - The market size for snack collection stores in China is expected to grow from 4.08 billion yuan in 2019 to 104.59 billion yuan in 2024, capturing over 40% of the snack sales market [26]. 2. Bulk Selection Strategy - Effective product selection can attract more customers, with a mix of well-known brands and private label products to enhance store traffic and conversion rates [28][34]. - The strategy includes placing popular brands at prominent locations to draw customers while maintaining a higher margin on private label products [36][51]. 3. Membership System Construction - A robust membership system enhances customer loyalty by offering exclusive benefits such as discounts and priority access [54][57]. - The design of the membership system should be fair and incentivizing, with clear criteria for upgrading membership levels based on spending [60][61]. 4. Industry Competitive Landscape - The market is dominated by major players like Wanchen Group and Snack Very Busy, with significant store counts and market shares [82][84]. - Competitive strategies include aggressive market expansion and brand consolidation to enhance market presence [87][89]. 5. Consumer Demand Analysis - The primary consumer demographic includes younger generations (90s and 00s), with a strong preference for convenience and variety [90]. - Consumers are increasingly drawn to snack collection stores due to their competitive pricing and diverse product offerings, often perceiving them as more affordable than traditional supermarkets [92][102]. 6. Industry Development Trends - The industry is moving towards an integrated online and offline retail model, leveraging technology for personalized marketing and improved customer engagement [106][108]. - Future trends indicate a focus on quality, health, and personalized experiences, with an expected increase in market concentration [139].