100 年前，连锁超市的老祖宗 A&P 收购了一批面包店、罐头厂之类的上游加工厂，开发自有产品。 通过自制造，A&P 获得了巨大价格优势，打的传统夫妻式杂货店毫无招架之力，统治了美国零售业近 40 年。 也许没人能想到，一个世纪后，自有品牌会再一次成为商超博弈的关键筹码。 爆米花味道确实不错 不止零食啊。。。 叮咚买菜上，卖豆腐的豆有志，卖面食的良芯匠人，快手菜蔡长青，这些品牌都是叮咚自有。 卖菜平台干着干着快成食品公司了。。。 现在，只要是大型商超，就在猛猛干自有品牌。 这不，前几天世超躺在沙发上看剧，随手抓了点盒马小零食，发现都印着大大的超盒算 NB。 捧着零食，抱着好奇一查，发现超盒算 NB 的自有品牌销售占比已经达到了 60%。。。 这几年家喻户晓的胖东来也是啊，自有的 DL 系列，从啤酒饮料、浴巾毛巾覆盖到了洗衣液，各种生活用品一应俱全。 零售业的战场，无非围绕几个核心维度展开：品类、价格、体验以及商品。 图片来源：小红书@肥鸡 所谓自有名牌，顾名思义，就是商超自己当出品人，从产品规格、原料选择、包装设计到品牌命名，都是商超说了算，最后打上自己的 Logo 进行销售。 这山头上，如今有山姆、开市客这 ...

Core Viewpoint - The article discusses the contrasting fates of Dingdong Maicai and its competitor Meiri Yousuan, highlighting Dingdong's strategic focus on product quality and operational efficiency as key factors for its survival and growth in the competitive fresh food e-commerce market [5][6][12]. Group 1: Company Strategy and Performance - Dingdong Maicai shifted its strategy from rapid expansion to regional deepening, closing multiple locations to focus on profitability and operational efficiency [5][12]. - In 2024, Dingdong Maicai reported a revenue growth of 15.5%, reaching 23.066 billion yuan, and achieved a net profit of 295 million yuan, marking its first annual profit since its inception [6][19]. - The company implemented a digital transformation to enhance its supply chain and logistics, achieving a significant reduction in operational losses [12][19]. Group 2: Market Dynamics and Competition - The fresh food e-commerce sector faced a crisis due to overexpansion and supply chain issues, leading to the collapse of competitors like Meiri Yousuan [10][12]. - Dingdong Maicai's ability to maintain supplier relationships and streamline payment processes helped it navigate the industry turmoil [10][12]. - The competitive landscape is shifting, with major players like Meituan and Hema engaging in aggressive pricing strategies, prompting Dingdong to focus on maintaining its operational model without entering price wars [49][52]. Group 3: Future Outlook and Expansion Plans - Dingdong Maicai plans to deepen its market presence in the Yangtze River Delta while cautiously considering expansion into other regions [25][53]. - The company aims to enhance its product offerings and digital capabilities, with a focus on maintaining a balance between growth and operational efficiency [55][56]. - The management believes there is still significant growth potential in the Yangtze River Delta, with a current household penetration rate of around 30% in Shanghai [53].

Core Insights - The company is shifting from a traffic and platform-centric approach to a product and ecosystem mindset, focusing on fresh produce and food supply chain [1] - An organizational restructuring has been initiated to enhance product quality and differentiation, creating 10 independent divisions based on major product categories [1] - The company has developed several proprietary brands and is exploring further expansion into self-owned brands [1][2] Company Strategy - The restructuring involves 10 independent divisions that encompass product development, operations, and quality control, each led by a core executive [1] - The company aims to enhance its self-owned brand strategy, having already launched various brands across different categories [1] - The company is also expanding its sales channels beyond its own platform to include major online platforms and offline retail channels [2] Financial Performance - In Q1 of this year, the company's GMV reached 5.96 billion yuan, a year-on-year increase of 7.9%, while revenue was 5.48 billion yuan, up 9.1% [3] - The net profit under GAAP standards was 8.017 million yuan, with a net profit margin of 0.1% [3] - The improvement in business metrics is attributed to strategic adjustments and organizational changes [3]