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Payback Period Lengthens, Store Closures Intensify, Bulk Snack Retailers Race to Go Public
Two major snack brands have successively filed for IPOs. On September 23, Wanchen Group submitted its prospectus to the Hong Kong Stock Exchange, aiming for a main board listing. This comes less than half a year after another snack giant, Mingming Henmang, filed its prospectus at the end of April. After a year of aggressive expansion, the bulk snack retail sector has grown into a giant with over 30 billion yuan in revenue and nearly 1 billion yuan in net profit. Wanchen Group's prospectus shows that from 2022 to 2024, its revenue was 5.49 billion, 92.94 billion, and 323.29 billion yuan, respectively.
翟元元9.9 Yuan Is a Thing of the Past: Coffee Price War Drops to 2.9 Yuan
The coffee price war has not stopped. Two years ago, brands like Luckin and Cotti pushed coffee prices down to 9.9 yuan; now, new tea brands like Guming and ChaPanda have brought the price war into the 4-yuan-plus era. The competition has engulfed the entire industry, with even Starbucks launching its first price adjustment in 26 years in China.
翟元元Bulk Snack Retailers Enter Beijing Market, Zhao Yiming's First Store Opens Opposite Haoxianglai
The snack war has moved from third- and fourth-tier cities to Beijing. Zhao Yiming Snacks, one of the three major bulk snack brands, has opened its first store in Changping District, Beijing, directly across from rival Haoxianglai. The competition is fierce as bulk snack brands expand into first-tier cities, facing higher costs and different consumer preferences.
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