Remember the old "hot pot first share" Xiabuxiabu ?
In the past few years, Xiabuxiabu has become a favorite of many people with its original bar table small hot pot model and affordable prices.
But time has passed, and Xiabuxiabu is no longer close to the people.
Many consumers said that Xiabuxiabu used to cost only 30 to 40 yuan per meal, but now a single meal is 60 to 70 yuan, which is more expensive for a single order. Get eight or ninety yuan per capita.
On August 19, Xiabuxiabu, the founder and chairman of Xiabuxiabu, who was re-appointed as CEO, said in an interview with the media that after more than two months of taking over as CEO, During a market visit, it was found that some Xiabuxiabu stores had serious location errors, which resulted in a loss of . Therefore, Xiabuxiabu decided to close 200 loss-making stores .
Xiabuxiabu Group responded that closing 200 stores is a loss-making store.It is a business decision made after careful consideration. "The purpose of'broken arm to stop bleeding' is to operate for a long time." Within 60 yuan
Xiabuxiabu told reporters that after more than two months of market visits, they found that some stores of had suffered serious location errors, which caused losses. span3span . “It’s actually very difficult to open 200 new stores, and the cost is high, but this is the company’s decision to stop bleeding with a broken arm.”
More than that, Xiabuxiabu The in xiabu xiabu brand and stores launched in 2019 will also be fully withdrawn from the market . The reason is also that the brand is in a state of continuous losses, and has been criticized by the outside world as a failure of "unclear positioning" and "four differences".
It is understood that Xiabuxiabu founder and chairman He Guangqi re-appointed as CEO in May this year, and after two months of market research, he made a series of innovative measures. "Closing 200 loss-making stores" is one of them.In addition, there are also returning to the mass consumption route and launching the mid-end hot pot brand "Xiabu X".
It is worth noting that in recent years, the unit price of Xiabuxiabu has continued to rise. The person in charge said that Xiabuxiabu is mainly for mass consumption and will continue to adhere to this route in the future. The unit price of will remain within 60 yuan, and the new generation of stores will still be "single pot" and "bar". Mainly .
In terms of store layout, in the next step, Xiabuxiabu will continue to expand into the second and third-tier sinking markets, and take-out, Xiabo Xiabang, tea drinks, etc. will become new growth points. The upcoming "Xiabu X" (tentative name) will enter the mid-end consumer market for catering at a unit price of around RMB 90. plans to officially debut next year.
In addition, the company's high-end brand CoCo Hotpot will continue to expand. Data show that as of the end of 2020, Xiabuxiabu has operated 1061 Xiabuxiabu restaurants and 140 Coucuo restaurants.
1998
3 _span_1span3 _span_span9He Guangqi founded Xiabuxiabu in Beijing, and combined the bar dining style with traditional hot pot, creating a new format of small hot pot at the bar.
This "one person, one pot" model was extremely rare before. Coupled with the affordable price, Xiabuxiabu became popular in 2003 and expanded rapidly afterwards.
In 2014, Xiabuxiabu successfully landed on the Hong Kong stock market, becoming the “first hot pot” . In 2016, Xiabuxiabu entered the peak period of development, with an average of one new store added every four days.
However, the good times are not long. After the listing, Xiabuxiabu has gradually entered the bottleneck period of development. The company's net profit growth rate has gradually dropped from 86.52% in 2015 to 10.00% in 2018. Currently, Xiabuxiabu's net profit has been declining for three consecutive years. From 2018 to 2020, Xiabuxiabu’s net profit will be 462 million yuan, 288 million yuan, and 1.8370 million yuan, respectively.
At the same time, in order to maintain profits, the unit price of sips and candies has also risen. From 2017 to 2019, the customer orders for Xiabuxiabu were 48.4 yuan, 53.3 yuan, and 55.8 yuan, respectively. In 2018, per capita consumption exceeded 50 yuan, and by 2020, per capita consumption exceeded 60 yuan, reaching 62.3 yuan. "more and more expensive" has become a complaint from customers for Xiabuxiabu.
On the evening of July 29,Xiabuxiabu issued the profit warning after the market closed. It forecasted a mid-term net loss of between 40 million yuan and 60 million yuan, and the year-on-year loss narrowed. The net loss in the same period last year was about 255 million yuan. Xiabuxiabu said that the net loss in the first half of this year narrowed sharply, but still failed to achieve profit .
This year, there has also been a personnel disturbance at the top of Xiabuxiabu.
In April 2021, Zhang Zhenwei, CEO of "Coucou", a hot pot brand under Xiabu Group, left his post and started his business, which attracted market attention. A month later, Xiabu Group CEO Zhao Yi was announced to be dismissed.
Since the beginning of this year, Xiabuxiabu's stock price has been in a state of "falling and falling" for a long time. From the high of 27.11 Hong Kong dollars at the close on February 11 to 6.05 Hong Kong dollars at the close on August 20, the stock price fell by about 74% during the period.
experts:
restaurant operators must both inside and outside
match demand iterative change
for Xiabu Xiabu close 200 stores Decide,Food critic Lao Yibo said that due to the impact of the epidemic, the market is both crisis and opportunity. It is not only a test for the catering industry, but also an opportunity for catering to re-examine the original business model, ideas and adjustment strategies. From the perspective of the development of catering itself, this is a good time to take this opportunity to adjust the business structure in combination with long-term and short-term development goals.
food industry analyst Zhu Danpeng believes that when the new generation has become a mainstream consumer group, their demand for catering stores has changed. How the catering industry accurately matches the core demands and needs is the entire catering industry and even faster Problems that the consumer goods industry needs to solve. How catering companies continue to innovate, upgrade and iterate is an eternal topic. This requires that under the consumption pattern of the new generation that likes the new and dislikes the old, the overall operation of the catering must be both internal and external. needs more innovation internally, and more external upgrades to match the iterative requirements of consumer end for quality, brand, service scenarios and customer stickiness.
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