. Is roast pork worth 250 yuan per person? In an era of overall consumption downturn, is it still a good business?
This article was first published by Hongqi.com (ID: hongcan18), author: Zhou Lixi.
BBQ track has given birth to new players.
htmlOn September 24, " while burning " China's first store was settled in Shanghai Sun and Moonlight Center. This is another new brand launched by Xiabu Group after " Xiabu Xiabu " and "银银", aiming to layout the barbecue track and enter the high-end roast pork subcategory.
It is reported that the average customer price of Jianshao is around 250 yuan. Xiabu Group hopes to complete the layout of Volkswagen, mid-to-high-end and high-end catering consumption tracks through Xiabu Xiabu, Qianshu and Jianshao three major brands.
Since the beginning of this year, the economic environment that has been constrained by the epidemic and consumption downward, the catering industry has been under pressure, and the overall performance of barbecue categories is relatively flat. At this time, does Xiabu have a good opportunity to enter the market?
01. What is the current situation of the barbecue track?
As we all know, according to the product style and production process, barbecue has gradually subdivided into two subdivided categories: barbecue and skewers. However, for a long time, skewers seem to be more likely to win the favor of consumers. According to the report "Double Summer-2022 Douyin Summer Trend" released by Juliang Engine City Research Institute not long ago, skewers are the place with the most check-in videos related to late-night snacks. Although the barbecue store has many advantages such as long business hours and high standardization, according to the big data of Hongju, the number of related stores is still relatively small compared to the skewers. In the barbecue category, the number of barbecue stores accounts for only 40.3%, while the number of barbecue stores accounts for 56.7%. In other words, more than half of the barbecue stores in the market are still focusing on skewers.
If you compare barbecue with hot pot, the development of the category will appear to be even less satisfactory. Barbecue, as well as hot pot, belongs to mature categories with strong social sentiment and stable supply chain, and should have huge consumption potential, but it is not small in terms of market size or the strength of leading brands.
△Data source: Hongju Big Data
"2022 China Catering Development Report" shows that as of June 30, 2022, there were 20 brands with more than 100 stores under the hot pot track; in the barbecue category, only 6 brands with more than 100 stores. Well-known listed companies such as Haidilao and Xiabu were born under the hot pot track; while there are still no listed brands under the barbecue track.
Perhaps it is precisely because of these gaps in the barbecue market that Xiabu Group chose to make efforts to enter the track. We saw that He Guangqi, founder and chairman of Xiabu Group, also bluntly said in an interview with the media, "On the one hand, this market is large enough; at the same time, there is no leading company in the current barbecue market yet, so we want to seize the market share of this blue ocean market." The implication is to take advantage of the sword to target the leading position in the industry.
After the bold statement, He Guangqi also disclosed the brand's plan for the next three years: it is planned to open at least 20 stores in 2023, and the first batch of stores will be settled in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen. It is the first choice for internet celebrity check-in places such as Shanghai Tianzifang and Beijing Sanlitun. From 2024, it is expected to expand at the rate of adding "30+" stores every year, focusing on core cities such as Hangzhou, Chongqing, and Tianjin. It is planned to exceed 100 stores in the next three years.
△Picture source: Xiabu Xiabu official official account
During the special period, many leading chain brands have put down their expansion plans, and even closed stores and contracted their strength. Xiabu Group is ambitious when it takes advantage of the burning from scratch and even planning to break through hundreds of stores.
But is roast pork worth 250 yuan per person still a good business in an era of overall downward consumption?
02. In the era of downward consumption, is high-end barbecue still a good business?
The ambition is often accompanied by rugged road ahead. For the Chingyao and Xiabu Group, it is good to have clear goals, but the difficulty of achieving the goals also lies in the high-end barbecue field that has entered.
barbecue category has a long period of development. At the end of the last century and the beginning of the new century, with the strong input of Korean culture, a number of Korean barbecue brands have emerged continuously, quickly opening up a new situation in Chinese catering barbecue consumption. At that time, most of the most popular barbecue restaurants were named after their local locations in Korea. During this period, many brands that were built across the country were born, such as Hannashan in 2001, Kwon Jincheng in 2000, etc.
△Picture source: Hongqi.com
Following Japanese barbecue, which focuses on high-end ingredients and Japanese catering experience, and once had the tendency to replace Korean barbecue. The popularity of Japanese barbecue at that time was enough to make today's Omakase beyond the reach.
Whether it is Korean or Japanese barbecue, they all have one common feature: it is expensive. Some insiders in the catering industry once said that with the purchasing power at that time, Korean and Japanese barbecue took a relatively high-end route. At present, although the potential of Japanese and Korean barbecue, especially Korean barbecue, is not as powerful as before, some leading brands still have a certain influence in the market.
Looking at the moment, there are still many competitors in the high-end barbecue track.
For example, Akasakatei , founded in 2005, has an average of 331.25 yuan per person. It operates Japanese charcoal roast pork, mainly focusing on M9 wagyu roast pork, and is an old customer on the "Top Ten Japanese Food Brands in China" list. Hongju Big Data shows that there are currently more than 20 stores, mainly distributed in Shanghai, Jiangsu and other places.
△Picture source: Akasakatae official website
For example, the small walnut barbecue restaurant born in Shenyang. The brand takes "walnut charcoal" as its memory point. In addition to the main SKU of Northeast Barbecue, the store also includes high-end ingredients such as Wagyu beef, eel , and has captured many mid-to-high-end customers. At present, Xiao Walnut has opened more than 20 stores, mainly distributed in Beijing, Liaoning and other places. Although the number of stores of the two brands above
is not large, they have already gained a foothold in the high-end barbecue market in different regions. Obviously, they all have the potential to become opponents that need to be studied while the fire is burned.
In addition, when opening a store during special periods, the epidemic has always been an unavoidable topic, especially opening a store with relatively high customer unit price. He Guangqi believes that "at present, my country's first-tier and new first-tier cities have transformed into international consumer cities, showing a high-end and diversified consumption trend." He also said that the epidemic will eventually pass, and the consumption demand of more than one billion people will surely flourish.
However, when other giants such as Haidilao, Naixue's Tea, Heytea and other categories have cut prices to survive, the strategy of taking advantage of the opposite direction still needs to stand the test of the market. Dianping data shows that the average customer price of small walnuts is between 150 yuan and 200 yuan, and such a price has already discouraged some consumers. It is not difficult to estimate that it may be more difficult to narrow the distance with customers if the price is higher and the average customer price reaches 250 yuan.
Some industry insiders have a cautious view on the high-priced business that is burning. In their opinion, in the special period, the willingness of residents to save has been continuously strengthened and their consumption desire has decreased, which has had a profound impact on the catering industry. It is not an excellent time to sound the clarion call of "high-end". It is not a good time to make the store that is delicious and not expensive and frugal may be able to better meet consumption needs.
03. "Barai pork + wine and tea + joy", can the compound business model break the shackles?
However, at present, the concerns of some of the above-mentioned industry personnel have not been verified yet. From Meituan , Dianping and other life service platforms, it can be found that whether it is the ingredients themselves, or the interior decoration and consumption scenarios, the newly opened Baishao won the praise of most customers and even triggered some queuing craze.
This may be due to the pioneering "roasted pork restaurant + bar + tea station". At the brand press conference, He Guangqi once said that while burning, consumers should "60%-70% enjoy delicious food, and 30%-40% enjoy joy."
"Gourmet" part is naturally the duty that every barbecue brand must provide. Its dishes such as "Baiyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoyaoya ml2
△Picture source: Xiabu Xiabu official official account
In the past, the compound business format of "catering +" is common in other tracks such as taverns. While drinking and chatting, people often see many integrated business formats, including Hu Taoli Music Restaurant Bar, which combines taverns with catering and music; recently there is Helens 's "BBQ + Wine" has put the skewers into the tavern.
In the first half of this year, Helens launched the "Helens Yue" store type. Unlike ordinary Helens, it not only provides wine, but also provides more SKUs such as skewers, cold dishes, etc., which has received good responses. It is understood that a store under this store type can have a monthly revenue of up to one million.
It is not difficult to find that the more common features of the Chingyao and Helensi, by comparing the similar store models, we can see more success possibilities from the Chingyao. Some consumer observers have shown optimism about the Chingyao "Cafeteria +" model. They pointed out that on the one hand, the integrated business model can solve the problem of single barbecue consumption scenarios, and on the other hand, it can also improve the store's customer flow and business hours. "The integration of business models similar to the Chingyao may become an important trend in the future development of the barbecue category. ”
△Picture source: Xiabu Xiabu official official account
Of course, the person also said that the integration model has a certain threshold, and it puts higher requirements on the capabilities of barbecue brands. For example, when the categories are integrated, the stores will increase accordingly, and the business model will inevitably be heavier; for example, at the supply chain end, the supply methods and channels of different categories are also different. In short, whether Bai Shao can stand out from it remains to be tested.
