On the evening of June 25, Want Want China released its financial report for fiscal year 2023 (April 1, 2023 ~ March 31, 2024), in fiscal year 2023, the group's total revenue reached RMB 23,586.3 million, a year-on-year increase of 2.9%, and the revenue of the dairy and beverage segment increased by 7.4% year-on-year to RMB 11,955.6 million. Among them, the performance of "O-Bubble" achieved double-digit growth (31%), which made an important contribution to the performance improvement of Want Want in FY23. After 20 years of steady progress, O Bubble has once again shown a strong growth momentum in 23 years, and is expected to become the next incremental hit of Want Want Group.
China's beverage market has unlimited potential, and Want Want has a deep layout in the beverage market
Want Want Group's beverage business revenue in FY2023 achieved significant mid-to-high-single-digit growth, which was largely due to the double-digit growth of O-bubbles, and has achieved significant phased progress through the in-depth strategic layout of the beverage segment market. According to the data, the output of China's beverage industry will reach 175 million tons in 2023, a year-on-year increase of 4.06%; The sales revenue was 520.2 billion yuan, a year-on-year increase of 7.26%. This shows that China's beverage market has significant growth potential and good development prospects. In the context of increasing competition in the beverage market, Want Want Group has always paid close attention to the evolution of the consumption environment and market trends. According to the reporter's understanding, relying on its unique innovative R&D capabilities and production capacity resources, the group continues to launch innovative products and enrich product flavors to maintain the uniqueness and market competitiveness of products. In particular, with the continuous improvement of consumers' health awareness, Want Want Group has made in-depth consideration of the formula health indicators of low-sugar drinks, and has continuously developed new products and broadened the product matrix. The move aims to follow the health trend and launch a low-sugar version of O bubble to meet the diversified needs of consumers.
The path to success behind Want Want O Bubble's double-digit growth in FY23
O-Bubble achieved a remarkable double-digit growth in fiscal 2023, and its path to success was mainly due to the excellent performance of multiple dimensions such as product, channel and marketing.
At the product level, O Bubble has successfully launched two low-sugar versions of the product in 2023, and launched a special music gift box around the brand's demonic brainwashing divine comedy "Give Me O Bubble I Want to Hug", which not only enriches the product structure of O Bubble, but also meets the market's demand for healthy and personalized products. In terms of channel construction, O Bubble Milk actively responds to the trend of digital transformation and has established close cooperative relations with the leading restaurant chain brands and well-known domestic catering O2O platforms "Meituan" and "Eleme", providing consumers with more convenient and efficient purchase channels, and at the same time, significantly enhancing the brand's popularity and influence through the linkage with multiple brands.
In terms of marketing strategy, O Bubble Milk participated in the 6th CIIE in 2023, fully demonstrating its high-quality product quality and young brand image to the world. In addition, O Bubble Milk has also adopted a combination of online and offline marketing strategies for young people and college students, which not only gives full play to the advantages of extensive coverage of online channels, but also uses offline activities for in-depth interaction, effectively enhancing the brand's youthful image and vitality.
In this year's marketing strategy, the O bubble brand has launched a series of comprehensive marketing promotions including national theme flash mob activities, college roadshows and sales outlets with the core theme of "O bubble time is up, no worries in hugging". This strategy aims to deeply understand and tap the emotional value of young consumer groups, and convey a positive, optimistic and upward attitude towards life through products, so that young consumers can deeply experience that O bubble is not only a drink, but also represents a life attitude and emotional sustenance.
In the process of expanding its sales channels, O Bubble Fruit Milk has demonstrated its global vision and ambition. It not only deeply cultivates the domestic market, but also promotes its products to many Asian countries such as Japan, South Korea, Malaysia, and Vietnam. With precise market positioning and effective marketing strategies, O Bubble Fruit Milk has quickly established a sales network in these countries and has won wide love and recognition from local consumers. These successful initiatives have underpinned O'Bubble Milk's outstanding performance of double-digit growth in FY23.
O bubble into Wang Jiangshan win-win business department order meeting fragrant and sweet, by the terminal and dealers sought after
In addition to the high attention paid to the strategic level of the group, the reason why the confidence of the O bubble layout market is more sufficient, also stems from the advantages of the following dimensions. In terms of brand advantages: O Bubble Fruit Milk has more than 20 years of brand accumulation, which is the childhood memory of the post-80s and 90s. Its catchy magic music "Give me O bubbles, I want to hug", giving consumers feelings and memories of an era. Combined with the comprehensive advertising coverage of new media such as TV, ladder media, outdoor, Xiaohongshu, Douyin, etc., the brand influence has been fully reflected.
In terms of product advantages: Based on Want Want Group's R&D, products, marketing, channels, supply chain and a series of strong comprehensive capabilities, O Bubble Fruit Milk has a series of products with multiple flavors and super specifications. Want Want told reporters: "In 2024, O Bubble will also promote the terminal display of all O Bubble products [O Bubble Hug Happy House], so that consumers can realize the freedom of O Bubble products."
In terms of channel advantages: O Bubble adheres to the omni-channel layout and has strong control over catering, circulation, special communication and other channels. In addition, it has completed the business expansion of the overseas version of O bubble, and strives to become the preferred beverage brand of overseas consumers.
In terms of investment advantages: in the past 20 years, a large number of high-quality dealers have grown together, and attracted more and more large merchants and supermarkets to join the O bubble camp. Recently, the second dealer order meeting of Wangjiangshan Win-Win Division of Want Want Group was successfully concluded, which continued to empower cooperative dealer customers and sounded a new round of charge for the detonation of the national market of O bubble. There are also dealers who spoke passionately, "We have created a brilliant performance of laying 2,000 boxes in three days", "Our products should be branded, serviced, and profitable", "The payment is that Want Want Company has collected your money and will help you do things to make money", "Before cooperating with Wangjiangshan Win-Win Division, our team's turnover was less than 7 million, but last year we exceeded 13 million, and it was the company that made me". With its excellent strength and significant market performance, O Bubble Milk has verified its solid position in the market with actual data, fully demonstrating its potential as a wealth appreciation booster.
China's beverage market is booming, and the importance of health, quality and individual needs is becoming increasingly prominent. With its profound industry heritage and continuous spirit of innovation, Want Want Group has continued to be favored by young consumers for 20 years, a product that combines unique taste and brand feelings. At the same time, O bubble speaks with data, which has been verified by the market and shows its huge development potential. We have reason to believe that O bubble will get better and better, and look forward to more surprises from O bubble in the future!