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P&G Alumni Entrepreneurs Trapped in Consumption Downgrade
A former P&G executive who once served as senior vice president of Daphne, China's top women's shoe brand, started a high-end handmade custom leather shoe project, but after little response, he turned to investment. Years later, another P&G alumnus, former Google China CMO and Babytree founder, launched a new venture selling shoes for the pre-elderly, which has remained stable. Meanwhile, P&G alumni-founded new consumer brands like Perfect Diary and RELX have seen their market values plummet to about 5% of their peaks, reflecting the broader challenges of consumption downgrade.
云山珠水JamesNavigating the Era of Shrinking Volume: Finding the Only Way to a New World
History always moves in a zigzag, never in a straight line, and so does our market. The FMCG market has been growing for nearly forty years, a long enough spring. But the grim situation reminds us that we must face a cruel reality. According to a headline article published by New Distribution on May 5, among 78 listed FMCG companies that have released their 2023 annual reports, 26 saw revenue declines and 29 saw net profit declines, accounting for more than one-third. It is worth noting that these 78 listed companies are all leading brands in their respective categories, and based on the latest market conditions in the first quarter, the trend of market capacity stagnation continues.
New DistributionBudweiser's Sales and Revenue Both Decline: Is There an Opportunity for Domestic Beer?
As summer approaches, the beer sales season is about to peak. Budweiser, the industry leader, has reported disappointing recent performance, with both revenue and sales declining in Q1, including a 6.2% drop in sales volume and a 2.7% drop in revenue in China. While weather is partly to blame, media generally believe the root cause is weak product sales, especially for Budweiser's high-end lines, whose market share is being eroded by competitors, potentially leading to a prolonged downturn.
魔刀石104 FMCG Listed Companies Release Q1 Reports: 49 See Revenue Decline, 43 See Net Profit Decline
Recently, listed companies have released their Q1 2024 results. Against a backdrop of moderate industry recovery, many firms still face challenges of declining revenue and net profit. New Distribution compiled data from 104 FMCG companies (those that have released Q1 reports so far), ranking them by revenue. In the food and beverage sector, Three Squirrels reported revenue of 3.646 billion yuan, up 91.83% year-on-year, and net profit of 308 million yuan, up 60.80%.
杨玉琳What Would Happen if Douyin Invested in Pupu Supermarket?
After three years, Chen Xingwen seems to have found new financing for Pupu Supermarket. According to media reports, Pupu completed a new round of financing negotiations in March, with a short-video internet company as the likely investor, speculated to be Douyin. This investment could provide much-needed funds and traffic support for Pupu, while helping Douyin strengthen its home-delivery capabilities in local life services.
RBF内容组Six Consecutive Quarters of Profit: Fresh Food E-commerce Giant Quietly Making Money
Dingdong Maicai has achieved six consecutive quarters of Non-GAAP profitability, with Q1 2024 GMV reaching 5.53 billion yuan and net profit of 41.48 million yuan, dispelling doubts about its business viability. The company's focus on the East China market, supply chain optimization, and product quality has driven this success.
廖一帆Distributors with Over 100 Million in Revenue Are Also Losing Money—Headache!
Hello friends. I'm Yuan Lai from New Distribution. Recently, many distributors have called me to discuss market and business topics, and the common feeling is anxiety and confusion. One distributor told me, 'After over 20 years in the trading business, I've been losing money for the past two years and feel particularly lost. The salespeople are still as numerous, but they just can't produce results. Is it that my thinking can't keep up with the market?' He continued, saying he initially wondered if his business volume of 30-40 million was too small to compete in stores. But after chatting with distributor friends with over 100 million in revenue, he found they were all the same—also losing money in recent months. Despite the large scale, they're actually very troubled.
袁来Vitasoy, Recapturing the Chinese Mainland Market?
Chen Xiaojing, the leading ready-to-drink soy milk company Vitasoy International, is emerging from the sluggish performance in the Chinese mainland market. According to the profit alert for fiscal year 2024 disclosed recently, operating profit in the Chinese mainland market surged, driving overall profit growth. However, the 83-year-old chairman, Lo Yau Lai, still has concerns. Although he promoted his daughter, Lo Ki Mei, to vice chairman last year, whether she can smoothly take over remains to be tested over time.
陈晓京The Sorrow of Renrenle, the Pain of Traditional Retail
In the third stage of maturity and decline, Renrenle peaked at its IPO, with family management laying hidden dangers. Throughout its development, Renrenle has been deeply influenced by family management, whose drawbacks are evident: lack of transparency, succession issues, exclusivity, unavoidable conflicts, and lagging institutional construction. For Renrenle and similar enterprises, finding a balance between family influence and professional expertise is key to overcoming difficulties and rising again.
联商网编辑部Miao Ke Lan Duo Still Has a Long Way to Go
In 2024, Miao Ke Lan Duo has faced a series of challenges, including a significant drop in stock price, first-ever decline in annual revenue and profit, and a food safety controversy over trans fatty acids. Despite appointing top celebrity Wang Yibo as brand ambassador, the company struggles with declining sales and increased competition in the cheese market.
程佳He Copied Red Bull, and Surpassed Red Bull!
On April 22, Dongpeng Beverages (Group) Co., Ltd. (hereinafter "Dongpeng") reported Q1 2024 revenue of 3.482 billion yuan, up 39.8% year-on-year, marking a strong start to 2024. Earlier, on April 15, Dongpeng released its 2023 annual report: full-year revenue of 11.263 billion yuan, net profit attributable to parent of 2.04 billion yuan, with its flagship product Dongpeng Tequila surpassing 10 billion yuan in single-product revenue at 10.336 billion yuan. Along with the strong financials, Dongpeng's market value climbed to nearly 80 billion yuan, and founder Lin Muqin and his family's wealth approached 40 billion yuan, making him another beverage industry tycoon. Forty years ago, Lin was just an ordinary technician worried about his future.
华商韬略Earnings Report Analysis: How Did Traditional Supermarkets Make a Comeback?
Recently, traditional supermarkets have been trending, with Pangdonglai's popularity and the Q1 2024 earnings reports from Yonghui and Jiajiayue. Pangdonglai's founder Yu Donglai mentioned that the company expected to earn 20 million yuan in 2023 but ended up making 140 million yuan. Yonghui and Jiajiayue also achieved significant profits, with Yonghui's net profit attributable to shareholders reaching 736 million yuan, a year-on-year increase of 4.57%, making its quarterly profit more than five times Pangdonglai's annual profit.
我是庄帅Liziyuan Is Not So "Sweet"
Three years after its listing, Liziyuan's performance has stagnated, which may not have been anticipated by its boss, Li Guoping. In its early years, the company rose on the strength of its sweet milk products, but now its addiction to sweetness has become an unshakable habit, making it difficult to find new growth drivers. After 30 years in the food and beverage industry, Li Guoping has tried more than once to seek breakthroughs, launching new products such as fruit and vegetable yogurt, coconut milk, and zero-fat products, which are undeniably youthful and trendy. However, no miracle has occurred.
陈晓京"Yilite: The 'Saishang Maotai' Aspires Beyond 'Small and Beautiful', but Falls Short"
In 1955, soldiers stationed in Xiao'erbulake Town, Xinjiang, brewed the first pot of liquor on the grassland with rudimentary equipment, marking the beginning of the liquor-making industry in Xinjiang and the start of Yilite's development, known as 'Xinjiang's First Liquor' and 'Saishang Maotai'. Recently, Yilite disclosed its 2023 annual report and 2024 first-quarter report, with net profit doubling in 2023. However, despite a 105.53% increase in net profit, it has not yet returned to 2020 levels, and issues such as missed targets, poor expansion outside Xinjiang, and low gross margins persist.
吴晓薇Returning to the FMCG Track, Former Alibaba Executive Lin Xiaohai Takes Over as CEO of Shanghai Jahwa
Shanghai Jahwa United Co., Ltd. recently announced that Pan Qiusheng resigned as chairman and CEO for personal reasons, and Lin Xiaohai was appointed as CEO and general manager, effective June 1, 2024. The century-old company faces declining revenue and increased competition, and Lin's appointment is expected to accelerate its digital transformation.
New DistributionDeclining Performance and Transformation Hurdles: Traditional Supermarkets Struggle to Survive
Revenue declines and performance pressures, shifts in the retail market, and seeking transformation are among the future directions for many supermarket companies, as concluded from their 2023 annual reports. In 2023, Lianhua Supermarket's turnover was approximately RMB 21.836 billion, down about 11.5% year-on-year, with its hypermarket segment down about 22.2%; Jiajiayue achieved revenue of approximately RMB 17.763 billion, down 2.31%; Renrenle's operating revenue was RMB 2.853 billion, down 28.15% from the previous year.
晴山Why Is the "Paper King" Eyeing Loss-Making Vinda?
A cross-border acquisition deal worth HK$26.1 billion has been finalized. On the evening of March 11, Vinda International announced that Asia Pacific Resources Group would acquire a 72.62% stake held by Essity and Li Chaowang at HK$23.5 per share, totaling HK$26.1 billion. Asia Pacific Resources Group is one of the world's largest, most technologically advanced, and most efficient pulp and paper producers, backed by renowned overseas Chinese businessman Chen Jianghe and his Singapore-based RGE Group, which has extensive investments in pulp and paper, cellulose fibers, and specialty cellulose.
唐飞Don't Convince the Customer—Make Them Feel It Was Their Idea to Buy
This issue explores how to get customers to proactively close a deal. The principle is to activate the customer's own desire to buy rather than forcing a sale, which applies to selling products, securing investments, winning over bosses, or landing a job.
梁将军Fuling Zhacai's Sharp Slowdown
In December 2023, Zhou Binquan, who had led Fuling Zhacai for 23 years, stepped down from all positions. After retirement, he remains the company's fourth-largest shareholder with a net worth exceeding 100 million yuan, achieving both fame and fortune and a graceful exit. However, what he left to his successor, Gao Xiang, is a situation of sharp slowdown: the stock price has fallen over 60% from its peak, market value has evaporated by over 25 billion yuan, and 2023 saw declines in both revenue and profit, with growth hitting a ceiling.
市值观察Video Account White Labels: Harvesting County-Level Luxury Women
During the Chinese New Year visit home, Xiaomei discovered that her family members had a habit of shopping on WeChat Channels, just like scrolling through Douyin or browsing Taobao. WeChat Channels has become a regular e-commerce platform for a group of people. Tencent internally has repeatedly mentioned the commercialization potential of WeChat Channels: at the end of 2022, Ma Huateng said in an internal speech that WeChat Channels is Tencent's hope for the future. It was also in that quarter's financial report that WeChat Channels' advertising revenue was first disclosed: over 3 billion RMB in three months. Tencent's 2023 annual results announcement emphasized that the total user time on WeChat Channels doubled compared to 2022.
关注微信生态的DTBudweiser Suffers from 'Premium Anxiety'
Budweiser, the premium beer leader, is also feeling anxious. According to Budweiser APAC's 2023 financial report, annual revenue was $6.856 billion, up 11.1% year-on-year, but net profit was $852 million, down 6.7%. The company is clearly caught in a cycle of increasing revenue without increasing profit. While rising sales costs have impacted net profit, the more critical issue is that competition in the premium beer market has become intense, and Budweiser, which relies heavily on the Chinese market, is seeing its market share eroded by local brands like China Resources, Tsingtao, and Yanjing.
贾贺辉The Channel War in the Snack Industry
The snack industry, stirred by discount retail formats, is showing initial signs of divergence. Three Squirrels reported Q1 2024 revenue of 3.646 billion yuan, up 91.83% year-on-year, while Yanjin PuZi saw revenue of 1.223 billion yuan, up 37.00%. Liangpin PuZi lagged with only 2.79% growth and a 57.98% drop in net profit.
伯虎团队Busy County Towns: 80% of Franchisees Losing Money?
Wang Lei returned to his county town in Shandong to start a braised food business, leveraging his experience and catering to young tastes, and is doing well with online orders. In contrast, Li Li's milk tea shop failed within months due to high costs and low sales, while franchisees like Li Yang and Yan Zi also suffered losses, highlighting the risks of county-town entrepreneurship despite the perceived opportunities.
晴山78 FMCG Listed Companies Release Annual Reports: 26 See Revenue Decline, 29 See Profit Decline
In 2023, the slogan 'It's not that XX is unaffordable, but that XX offers better value for money' spread across short-video platforms, making cost-performance and quality-price ratio the market's main themes, with consumption stratification becoming more pronounced. As companies released their 2023 annual reports, issues from the past year came to light. The beverage market grew positively, with intense competition, as the FMCG industry saw a 6% growth rate.
汪海