Click the image for details At the '2017 China Entrepreneur Annual Conference' a few days ago, Zong Qinghou, chairman of Hangzhou Wahaha Group, appeared at the venue. He wore a Zhongshan suit and cloth shoes, looking somewhat out of place among the suit-and-tie entrepreneurs. Not long ago, several articles titled "Why the Wahaha Empire Fell," "Will the Wahaha Empire Age with Zong Qinghou?" and "Wahaha, Worth Tens of Billions, May Be Facing Its Greatest Difficulty Ever" circulated widely online, mostly criticizing Wahaha's outdated internal management and lack of innovative blockbuster products. In response, Zong Qinghou, a man of action who prefers doing over talking, answered at the conference: " (The brand) has aged, so we need to find ways to 'rejuvenate' (Wahaha). The specific methods are to improve product quality, continuously develop new products, and we also have designs for developing blockbuster products. " Subsequently, on May 9, Bloomberg News reported a major move by Wahaha Group — the report stated that Zong Qinghou is focusing on acquiring large foreign companies, and is currently in negotiations with American dairy company Dean Foods — Dean Foods is the largest producer and supplier of liquid milk in the United States, now owning more than 50 local or regional brands, but with almost no business in China. This is probably Wahaha's another attempt in the dairy category since the 'Danone-Wahaha dispute' eight years ago. From 1987 to now, the 'Wahaha' brand has just entered its 'year of standing' (30th anniversary). Thirty years ago, Zong Qinghou was just an ordinary entrepreneur peddling popsicles, soda, and school notebooks on a tricycle. Thirty years later, he has developed a food factory that only made children's nutritional liquid into the largest beverage producer in China and a global leader. It produces more than a dozen types of beverages, and has now begun to explore two new fields: milk powder and liquor. Among these, AD calcium milk, Shuangwaiwai, Nutri-Express, Wahaha Eight-Treasure Porridge, and the mineral water endorsed by Wang Leehom have become childhood memories for many. For most people, mentioning 'Wahaha' may evoke a sense of nostalgia. However, with the diversification of food and beverage products, the impact of e-commerce on food and beverages, and the density of fast-drink physical stores, the market share that Wahaha occupies has begun to gradually decrease. Since 2013, Wahaha's sales performance has declined for four consecutive years. In 2016, sales returned to the level of 2010. Although it remains firmly in the '500 billion club', there is no doubt that Wahaha is in unprecedented difficulty. In fact, it's not just Wahaha; in recent years, traditional FMCG giants like Master Kong, Uni-President, Want Want, and the two cola companies have mostly been declining. Not long ago, the once-prosperous Huishan Dairy was unfortunately suspended from trading, falling into a desperate situation of 'insolvency'. The universality of this phenomenon is ultimately due to market changes — consumer segmentation is becoming more refined, and some traditional monolithic brands are beginning to disintegrate. The former 'king brands' that dominated the market and targeted the masses will gradually become 'feudal brands' scattered in niche markets. Therefore, what Wahaha needs to do is develop new blockbuster products and find the right positioning and strategy. As for us, we don't need to write off 'Wahaha' just yet. After all, this is only a problem in development. Remember, Apple was once considered 'waiting to die', and Procter & Gamble has experienced two winters. Here is the childhood memories divider Besides Wahaha, how are the domestic food and beverage companies that accompanied us through our childhood doing now?**** 1 Weilong Latiao During the Spring Festival this year, the British Broadcasting Corporation (BBC) aired a three-episode documentary "Chinese New Year" introducing various customs of Chinese people celebrating the Spring Festival, which unexpectedly mentioned latiao! As one of the nation's favorite snacks, latiao has lived up to expectations and has embarked on an international journey with the Chinese people. On Amazon US, Lao Gan Ma chili sauce sells for $16.49, equivalent to 113.78 RMB; Weilong latiao sells for $19.98, equivalent to 137.86 RMB. The fighter among latiao, Weilong, has finally gone from a street stall product to international! 2 White Rabbit Candy Do you know White Rabbit is delicious? Do you know that this rabbit actually holds four patents — intelligent feeding, automated aeration, unique whitening, and sealed cleaning... Who would have thought that a small candy could have so much 'substance'? With rich milk flavor and strong chewiness, since the 1980s, there has been a saying: 'Seven White Rabbit candies equal a glass of milk.' Now when mentioning 'White Rabbit', I still remember myself as a child wrapping the whole candy in the edible rice paper and eating it. Now 'White Rabbit' is 58 years old, but its design has always been at the forefront of fashion: From the green tin box in the 1960s and 1970s to the red box in the 1980s and 1990s Then to the milk bottle and the fresh-style tin box Even in 2012, the creative 'Giant White Rabbit Candy' sold out at one point. When it comes to being suitable for all ages, White Rabbit is still the favorite~~~ 3 Mylikes and Huahuadan Mylikes and Huahuadan are definitely the 'miracle pills' in movies and TV dramas! In dramas, when the protagonist is injured, they feed a Mylikes; when poisoned, they pour a handful of Huahuadan, and immediately 'the medicine cures the disease'... When it comes to 'internet celebrities' among childhood snacks, Mylikes and Huahuadan are definitely the ones! 4 Dried Figs If you think dried figs are definitely made from figs, then you are really too young, too simple. This is probably the biggest lie of childhood! It turns out that dried figs are actually made from white! radish! It is said that the production process involves bleaching dried papaya shreds and then adding saccharin and artificial flavors. The origin is mostly Southeast Asia. In the early days, the production method was even done by trampling with feet, which was not hygienic. Only in recent years has it been changed to machine manufacturing. The biggest liar in history is definitely dried figs. 5 Jiuzhou Qiwei Scallion Pancake When I was a child, I really liked eating Jiuzhou Qiwei scallion pancakes. They were fragrant and crispy, always reminding me of the scallion pancakes in my grandmother's oil pan. And the old man with a long life on the packaging also became one of the character images in my childhood memories, after 'Want Want' and 'Wahaha'. Later, this biscuit gradually became rare in the market. One day, I searched online and found out that it, along with breakfast biscuits, sesame brittle biscuits, and wafer biscuits, all come from the company Jiashili. And the Jiashili brand has been established for 60 years now! 6 Little Pudding Increased price without increasing quantity, renamed to 'Big Pudding'. What can I say... 7 Tianma Brand Sour Dark Plum Food safety did not pass, and finally it was put on the blacklist... Now it has basically been removed from the shelves online. ...... Among these childhood foods, some carry nostalgia, some are time-honored and conscientious products. As for Wahaha, a national brand that is cheap and delicious, Mr. Zong, I hope you can steadily guard 'Wahaha' for us~~ As for the other foods... leave them to me to guard!! Partial sources: Sina Finance, Interface News