Due to the headline revision,Added the ad unlock function,When the ad is opened,Wait for 5 seconds,You click the close button in the upper right corner of the small one to make a fortune,You can continue to read my article,Thank you for your understanding。
Text: Yu Yu
Edited by Yu Yu
Preface
Once upon a time, a famous dish with wine swept the country, and the sales reached 400 million yuan within half a year, but just a few months later, this once sales myth suffered huge losses.
What profound enlightenment does this product bring us?
From peak to trough: The collapse of the sales myth
In 2021, Youyou Food's pickled pepper and phoenix feet are still the darlings on the table, and this seemingly ordinary appetizer, with its unique taste and convenient packaging, has created a sales miracle of 400 million yuan in just half a year.
At that time, Youyou products on supermarket shelves were always in short supply, and it was even more difficult to find a pack online, but shopping malls were like battlefields, and the situation changed abruptly.
The net profit plummeted by 24.38% to only 116 million yuan, which is in stark contrast to the glory of the past.
At the same time, various competitors have sprung up, from traditional snack giants to emerging Internet celebrity brands, all eyeing up this big cake.
What's even more worrying is that Youyou seems to be stuck in a predicament of resting on its laurels, while its competitors continue to innovate, Youyou is still relying on its old business.
This lack of innovation is particularly fatal in a rapidly changing market, and the haze of food safety issues is even worse.
In 2018, the aftermath of the Guangzhou low-quality chicken feet case has not subsided, and in 2023, the controversy over the application of nuclear technology to food preservation will break out.
Although the latter is misunderstood, it has cast a shadow over the brand image before the rumors stop at the wise.
In this sudden market storm, Youyou is obviously unprepared, it is like a small boat sailing into the stormy seas, crumbling.
This begs the question: in the business world, can the success of the past be a constraint on future development, and how can companies stay thriving in an unpredictable market?
The collapse of this former sales myth is undoubtedly a wake-up call for us, telling us that in business competition, there are no permanent winners, only constantly evolving survivors.
Internal and external troubles: multiple factors lead to business difficulties
In the vast sea of commerce, Youyou Food is facing unprecedented challenges, and this once flagship is now sailing with difficulty in internal and external troubles.
Let's take a closer look at the factors that have led to the tilt of this commercial giant, starting with the soaring cost of raw materials.
This may seem like a small change, but it is like the last straw that crushes the camel, seriously squeezing the profit margin of the enterprise.
What is even more jaw-dropping is that the number of chicken feet consumed by the mainland every year is as high as more than 20 billion, far exceeding domestic production capacity.
This means that Youyou has to rely on imports to meet production needs, but the uncertainty of international trade and exchange rate fluctuations undoubtedly increase the business risk of enterprises.
Traditional snack giants such as BESTORE and Three Squirrels have also entered the chicken feet market and are eyeing up to share this big cake.
In this war without gunpowder, Youyou seems to be a little powerless, and while competitors launch innovative products such as lemon boneless chicken feet, Youyou is still clinging to the traditional pickled pepper phoenix feet.
This lack of innovation is particularly fatal in a rapidly changing market, and what is more worrying is the impact of food safety issues on brands.
Although the controversy over the application of nuclear technology to food preservation was ultimately proved to be a misunderstanding, in the storm of public opinion, Youyou's brand image has been overshadowed.
In the face of these challenges, Youyou seems to be caught in a dilemma, price increases may lead to a further decline in sales, and it is difficult to maintain profits while reducing prices.
This dilemma is the common dilemma faced by many traditional food companies, but crises often coexist with opportunities.
Youyou's predicament just reflects that the entire industry is undergoing profound changes, and those companies that can find the right position and adjust their strategies in time will eventually stand out in this market reshuffle.
For Youyou, the top priority is how to actively embrace change while maintaining traditional advantages.
Is it to stick to the existing market, or to open up a new blue ocean, to adhere to a single product, or to diversify development? These are all important choices in front of Youyou.
In this challenging era, the way for enterprises to survive is no longer simply to expand their scale, but to find a balance in change and seek development in innovation.
Lack of industrial innovation
In the ups and downs of the business sea, innovation is often the source of power for enterprises to break the waves and move forward, but for Youyou Food, which once had unlimited scenery, the lack of innovation has become a stumbling block on its development path.
Let's dig deeper into how the first stock of pickled pepper phoenix claws has gradually fallen behind on the track of innovation.
Youyou's product structure is single, and it is overly dependent on pickled pepper and phoenix feet, which is exposed in its financial report.
The revenue of pickled pepper phoenix feet accounts for as much as 80%, although the company has also launched pig skin, bamboo shoots and other products, but has never been able to create a second hit.
This one-legged development model is particularly fragile in the changing market, and the brand, which has only been established for 7 years, has quickly captured the market with innovative products such as tiger skin boneless chicken feet.
Not only did they innovate their products, but they also found new ways to sell their products in various convenience stores, achieving a wide coverage.
What's more noteworthy is Wang Xiaolu's innovation in taste. In addition to the traditional lo-mei, they have also launched a variety of flavors such as spicy and pepper to meet the increasingly diversified needs of consumers.
This kind of innovative strategy that keeps up with the pulse of the market is exactly what Youyou lacks. Not only emerging brands, but also traditional snack giants such as BESTORE and Three Squirrels are also making a big splash in the chicken feet market.
In the face of such a strong competitor, Youyou's single product strategy seems to be a little stretched.
While competitors are making a splash on social media, Youyou's online promotion is lagging behind.
At the moment when live streaming is prevalent, Youyou seems to be still stuck in the traditional offline sales model. The backwardness of this marketing method has undoubtedly affected the brand's influence among young consumer groups.
What's even more worrying is that Youyou seems to be slow to respond to market changes, and when lemon boneless chicken feet become a new market hotspot, Youyou is still clinging to the traditional pickled pepper chicken feet.
This kind of neglect of market trends has made Youyou miss many development opportunities, and Youyou's predicament just confirms an iron law in the business world: innovation is the lifeline of enterprise survival and development.
In this fast-changing market, it's like killing yourself to rest, but innovation isn't easy.
It requires companies to have keen market insight, the courage to think outside the box, and the ability to respond quickly to market demand.
For Youyou, how to inject new innovative elements while maintaining its traditional advantages will be the key to whether it can return to the top.
The enlightenment of Youyou's story is that in business competition, there is no eternal winner, and only innovative enterprises can build a long-lasting business.
It reminds us that innovation is not only a slogan, but also a gene that should be integrated into the blood of the enterprise, and only by constantly breaking through ourselves can we be invincible in the fierce market competition.
The Road to Breakthrough: Turning Corners and Challenges in the Crisis
In the ups and downs of the business sea, every crisis is an opportunity to reshuffle the cards and an opportunity for enterprises to reinvent themselves.
For Youyou Food, which is in trouble, how to find a breakthrough in adversity has become a difficult problem in front of the management.
Let's explore together, in this crisis, what are the possible ways for Youyou to break through, first of all, product innovation is undoubtedly the key to breaking the situation.
Youyou needs to think outside the box and actively develop new product lines, such as launching a low-fat, low-salt healthy version to cater to the current consumer's pursuit of healthy eating.
Secondly, the innovation of marketing strategy is equally important, in this era of information explosion, Youyou needs to pay more attention to online marketing.
You can consider cooperating with well-known anchors to carry out live streaming, or you can produce interesting brand content on short video platforms to enhance the brand's influence among young people.
In addition, cross-border cooperation is also a direction worth trying, such as co-branding limited products with well-known IPs to attract more attention.
In the face of the pressure of rising raw material costs, Youyou can consider extending upstream and stabilizing the supply of raw materials by building its own breeding base.
At the same time, intelligent production equipment can be introduced to improve production efficiency and reduce labor costs, which can not only alleviate cost pressure, but also improve the stability of product quality.
In addition, the internationalization strategy is also worth considering, and Youyou can take advantage of the Belt and Road Initiative to actively explore emerging markets such as Southeast Asia.
Through localization strategies, creating products that suit local tastes is expected to open up new growth points.
How to dispel consumers' doubts about food safety and rebuild brand trust is a long-term and arduous task.
Finally, the financial pressure cannot be ignored, innovation requires a lot of capital investment, and the current financial situation of Youyou is not optimistic.
How to balance short-term profits and long-term development is a problem that the management needs to consider carefully, and the future of Youyou is not only related to the rise and fall of a company, but also reflects the transformation of the entire traditional food industry.
In this era full of uncertainty, only enterprises that have the courage to change and innovate can gain a firm foothold in the fierce market competition.
Epilogue:
In conclusion, the story of Youyou Foods teaches us a vivid business lesson, which tells us that in a rapidly changing market, past success does not guarantee future glory.
Companies need to be vigilant and innovative to adapt to changes in the market, and this case reminds us.
Although Youyou is facing many challenges, crises often breed opportunities, as long as we can face up to problems and have the courage to change, it is possible to achieve breakthroughs in adversity.
For the entire food industry, the experience of Youyou is undoubtedly of reference significance, which enlightens us that in the fiercely competitive market, only enterprises that continue to innovate and keep pace with the times can ride the wind and waves in the business sea and create new brilliance.
Resources:
On April 8, 2023, Beiqing.com released "Look at the vomit! Cockroaches crawled out of the boneless chicken claws, and Mi Zijun apologized"
On September 16, 2020, China Quality News Network released the "Zhejiang Linhai Market Supervision Bureau Released the Verification and Disposal of Unqualified Boneless Chicken Feet"
#头条创作挑战赛#