Source: Retail Commercial Finance
Adhering to innovation and satisfying consumption -oriented, strengthening the development of toughness, the future prospects of the instant noodle industry are still worth looking forward to.
Author: Hexiang Lin Ziqun
Produced: Retail Commercial Finance ID: Retail-Finance
From national cuisine to space food, a bag of instant noodles carry the history of the transition of the times.
In the top company competition, the “Shuangxiong” of the listed company Kang Tong has exposed the same business strength gap that the same business strength is continuously exposed in the latest financial report data.The white elephant and Jinmailang, which did not open the door of the capital market, continued to dig at the “flow depression” to make up for the shortcomings of offline channels and market share.
Today, the “marathon” areas that are convenient for fast food have ushered in a new consumer environment. Unlike the emerging brands that “disappear overnight”, or the veteran domestic products that have been impacted to leave, the best ones who can really cross the industry cycle must haveThe concepts that fits the trend of consumption, the consciousness of matching users, and the rhythm that is moving with the marketThese are exactly worthy of inquiry, analysis and interpretation of industry participants.
Instant noodles were swept during the critical period of the rise of domestic economy in the 1990s. At that time, a large number of migrant workers who worked workers would take a green leather train for a long time.In the context of dividends and large -scale flowing population, the instant noodle market began to climb quickly.
From beginning to 2015, the instant noodle industry has maintained a double -digit growth rate for many years, and has experienced the golden period of high -speed development.
Among them, Master Kang swept the market with a strong flavor braised beef noodles. With the advantages of convenience, deliciousness, and affordable prices, as well as the operating strategies that are equivalent to regional taste and innovation, quality and quantity,The market share is as high as 98%.
The reunification of Master Kang to 15 days later quickly enriched his product line, and adjusted his strategy to catch up.In addition, it also poured into Hualong(Today Mailang’s predecessor)Brands such as white elephants are trying to share a share in the blue ocean market with great growth potential.
Picture source: iResearch Institute
In recent years, the traditional 3 -minute soaked fast -food instant noodles can no longer meet the changes in consumer preferences.Volkswagen’s requirements for food are becoming stricter. Even for the so -called convenient food, consumers are no longer limited to “convenient” itself.
On the one hand, with the improvement of national economic income, consumers themselves have begun to pay attention to health and food nutritional value, consumer demand has changed from only focusing on convenience and price, to the diversification of ingredients and varieties.
On the other hand, the convenience of fast food choices gradually diversify, and with the rapid development of the “all things home”, that is, the rapid development of the industry, the diversified products are endless.(Such as self -heating hot pot, snail powder, the popularity of cold skin, the flourishing food prefabrication market is booming)The development concept of traditional instant noodle enterprises “eat a fresh and eat all over the sky” no longer works.
Even though new opportunities such as “home economy” and “live economy” have injected new vitality into the instant noodle market again, in the face of market dividends, corporate business strategies have shifted from “barbaric growth” to “fine cultivation”.
In the opinion of Deng Min, a global partner in Bain and the chairman of the consumer goods business of Greater China, the secret of the success of fast consumer goods companies isHow to improve production efficiency, seize digital opportunities, and boldly innovate.
Obviously, the head players want to do not make the table in the era of stock competition. In addition to promoting the steady growth of sales, more importantly, the must be grasped together, taking into account consumers, customers, employees and other interests.So prepare.
Looking back at Master Kang Holdings Co., Ltd.(00322.HK, hereinafter referred to as “Master Kang”)Data of the annual performance report of 2023, Master Kang’s annual revenue increased by 2.16%year -on -year to 80.418 billion yuan, maintaining a growth trend for 7 consecutive years.Among them, the business revenue of the instant noodle sector reached 28.793 billion yuan, accounting for 35.80%of the total income of the group.
Figure: Master Kang, Unified, Riqing 2023 financial reporting revenue comparison
During the same period, Riqing Food(01475.HK)The annual performance of 2023 shows that the Group’s revenue was HK $ 3.833 billion during the period, a year -on -year decrease of 5.77%.Unified central control(00220.HK)In the company’s performance report in 2023, the revenue contribution of unified instant noodles in 2023 contributed 9.594 billion yuan, a decrease of 1.026 billion yuan from the level of 10.62 billion yuan in the previous year, a decrease of 9.65%year -on -year.
For the revenue answers in the three performance announcements, the opinions of the professionals of all parties have been frequent, and there are divergent opinions.
From the perspective of instant noodle business performance, Master Kang instant noodles in the industry’s head of 2023 reached 28.793 billion yuan, which fluctuated slightly year -on -year, but the overall gross profit improved.Compared to the other two listed companies, after the epidemic,Master Kang’s instant noodles stabilized the basic disk, showing strong and powerful business toughness.
On the other hand, non -listed companies such as Mailang and Baixiang, although we failed to know the specific revenue performance data, the former star instant noodle products are now difficult to find on the market, and the latter is also facing the same dilemma.In visibility, you can also generalize the overall performance of its instant noodle business.
In the past few years, the instant noodle industry has set off a “traffic” fanatic competition.From the e -commerce platform purchased to the lively social media, all kinds of sensational and goods are endless, as if a war without smoke.
With social responsibility and patriotism, the white elephant with Flag has taken this east wind, and has been promoted to the national tide brand from the old Chinese goods.Find the trace of white elephant.
Picture source: Taobao
From the perspective of the price, as shown in the figure above, the white elephant, which focuses on national feelings, is actually even more expensive than Kang Tong’s price. Its general signboard 5 consecutive package products are priced at 14.9 yuan.The same type of product is 12.9 yuan, the uniform is 12.79 yuan, while Master Kong is only 10.9 yuan.
The unified instant noodles also pay the same effort to stimulate consumption on the marketing side. From the cooperation of Tanga people and Wang Junkai, try to maintain the brand youthful image; then to the unified old altar sauerkraut beef noodles with the hot drama “There are jade”, I hope to reach the star fansWith the new generation of consumers; cooperate with Xiao Zhan to cooperate with Xiao Zhan to expand the consumer group …
However, a series of actions on the marketing side did not bring expected results.The unified overall sales and marketing expenses in 2023 were 6.28 billion yuan, an increase of 390 million yuan from 5.89 billion yuan in 2022, an increase of 6.6%year -on -year.Yuan, a year -on -year decrease of 9.65%.
Can the focus on propaganda really cultivate a loyal consumer group?
The answer is undoubtedly no.
Even though marketing can briefly enhance the popularity and attractive product of the product, wild consumption can only be saved for a while and cannot be saved.In the long run, the impact of drunk marketing on the market is very small.
There is no doubt that combined with the performance and market insights of the instant noodle head players, the gap between each other is increasing.
Master Kang, who is in the industry, not only enjoys the dividends of long -term consumption upgrades, but also benefit from the consumption class when the economic cycle fluctuates.
「零售商业财经」认为，支撑康师傅方便面穿越行业发展周期的关键，正是其多年来一直追求的是市场经营的韧性，产品与品牌的运营，用户心智的深耕，研发与多元化的坚持，以及Sensitivity to consumption trends.
Faced with the major changes in the instant noodle market, industry insiders pointed out that whether it is channels or traffic, it is just a means of commercial competition, and products and services are the fundamental.For China’s instant noodles “rivers and lakes”, only by continuously meet the needs of consumers, focus on products and services, and emphasize corporate innovation and business toughness, can we be invincible.
1) Innovate the product, get the “heart of the heart” to get the world
Return the essence,Products and channels are still the two core elements of the large enterprise of fast consumer goods enterprisesEssenceThrough Master Kang’s 2023 financial report, its “strong battery life” is centered on consumers, and its deep cultivation and layout are made around the four aspects of product innovation, food safety construction, omnicular integration, and digital transformation and upgrading.
Although Master Kang occupied half of the riverside market in the instant noodle market, he did not stop the pace of innovation.Consumers’ most intuitive perception of Master Kang’s instant noodles is mostly from the product innovation presented by consumers for consumers.
In addition to the good sales of “classic” flavors nationwide, Master Kong has increased its investment in industrial innovation and upgrades in recent years.Good products have been launched, thereby meeting consumers of different circles of consumers’ needs for high -quality and healthy diets.
Figure: “Sour Sour Gold Soup Fat Noodle” combined with IP “Little Yellow Man”
The financial report shows that Master Kang’s instant noodles are based on consolidating high prices and high -end markets, simultaneously expanding the ultra -high -end market, and achieving sales growth.Multiple specifications and multi -flavored products meet different consumer scenarios and diversified consumer needs, and attract young consumers and young families through multimedia marketing and IP cooperation.For example, “Sour Sour Golden Soup Fat Noodle Noodle” and IP “Little Yellow” strengthened interactive communication with young consumer groups, and sales performance was bright.
Conform to consumersWhile pursuing health and high -value products, pay attention to the cost -effectiveness of the productShopping preferences, Master Kang launched the innovative taste “double radish burdock noodles” and “spicy selection beef noodles” in 2023 to enhance the brand’s attempt and shape the top instant noodle brand image.The large -scale product “Master Kang doubles” meets consumers’ demand for high cost -effective products; simply “fragrant and crispy” aims at the casual snack market of student groups and wider population.In addition, grasping the consumer’s “little hungry” meal demands, the sales of “Master Kang’s mini barrel” increased significantly, and achieved refinement and satisfaction of the demand for multiple scenes.
2) In the second half, the “toughness” is “tough”
Standing from the perspective of the industry, you can only focus on the instant noodles of Master KangCorporate internal skillsIn order to obtain a comprehensive, clear and three -dimensional corporate image, perceive the affiliate of the company to adhere to the long -termism, and the long -lasting business strategy.
In terms of quality, Master Kang’s instant noodles have always implemented the “Healthy China” national development strategy and zero tolerance for food safety risks.As a Chinese aerospace business partner, Master Kang successfully applied the aerospace FD technology to the production of ingredients, and the original taste of restoration ingredients can be stored for a long time.taste.
Picture: CCTV host Sabenin visits Master Kang Instant Noodle Factory
It is worth mentioning that in the face of raw materials(Sugar)Rising costs, Master Kang still adheres to the product of the product without falling, ensuring the healthy and deliciousness of each bowl of noodles.
“Retail Commercial Finance” believes that Master Kang’s instant noodles are reducing costs and efficiency and consolidation of market position by improving the efficiency of supply chain and marketing level.For example, by optimizing the layout of production capacity and improving efficiency to reduce production costs.
At the same time, digital management(From the procurement, manufacturing to warehousing and logistics transportation)It also provided a help for Master Kang’s instant instant noodles.It is reported that Master Kang’s instant noodles in Hangzhou’s digital intelligence future factory project can realize the real -time monitoring and control of the state of the entire plant, quickly reflect production abnormalities and energy consumption abnormalities, realize energy saving and consumption, and comprehensively improve the efficiency and benefits of supply chain.
From the perspective of the industry, the fast -moving consumer goods track with obvious Matthew effect,“Boss” in the industry usually pays more attention to non -competitive fields such as industry innovation, progressive process, and food safetyThe second child, the third, and fourth were staring at the meat in the other bowl of the other person, and they were close to me.
