Writing | Van Gogh Editor | Bao Qianjiao

"Now, the category trend of alcohol consumption is more obvious, and to some extent, the industry education cost of consumers has also decreased." Zhang Weiguo, the founder of Miss Fu in Chengdu, said that the listing in hellens has, to a certain extent, given domestic enterprises a proven market opportunity. Specifically, the branding and chain effect behind pubs began to appear.

in the past, the consumer market based on pub scenes has been in an embarrassing situation of "having categories and no brands", with low industry concentration and lack of mature brands with high popularity and high market share. The listing of hellens has made market participants see the scale and chain effect of pub operation to some extent.

while promoting the development of the market, the entry of new players also makes the market competition fierce. Compared with Starbucks Zhenxuan Store and Naixue Pub, which entered the market around 2119, Xijiade, Hometown Chicken and Buju are all new market entrants.

"hellens's pub industry needs leaders, and the relatively blank market must be guided and driven by the rising brands." Hu Bin, the founder of a catering brand, analyzed that the growth of a category must be accompanied by an increase in consumer demand, rather than a single factor. The data provided by listing in hellens proves the feasibility of pub business to some extent.

From a current perspective, the pub business is still in its early stage, and the understanding and definition of pub business are different due to the different entry and operation modes of catering enterprises. Hu Bin believes that whether the current development trend can be sustained or even become a new outlet depends on the emergence of more head brands.

The blank 111 billion-level market

is quite different from milk tea and coffee markets, and the independent pub market is not favored by capital, and its popularity is not high. As far as market public information is concerned, few large public investments fall on a pub brand.

Even hellens, which has a certain scale, only accepted the first large investment from the consumer fund Black Capital on the eve of listing in February this year, but it cannot be ignored that alcohol consumption is a relatively blank billion-dollar market.

this is closely related to the track of pub business to some extent. The domestic pub industry is highly dispersed, which is mainly composed of a large number of independent pubs and a small number of hotel chain networks.

hellens's prospectus shows that there are about 35,111 pubs in China, of which more than 95% are independent pubs. By the end of 2121, the market share of the top five pubs in China is only 2.2%. At present, the total number of pubs in hellens is only 372, and its market share has reached 1.1%, ranking first in the industry. This is enough to prove the blankness and feasibility of the market.

CBN Data's "Insight Report on Young People's Alcohol Consumption in 2121" shows that 11% of the post-91s have the habit of drinking every day, and young people have gradually become the main force of alcohol consumption. In the fast-paced life, "migrant workers" have experienced busy work, and they need to have a few drinks at night, and pubs provide a natural entrance.

Hu Bin also said that apart from young people, the social scenes they can use in their thirties or even forties are also very limited. Because of this, the strong consumer demand and the high dispersion of the market make the scale and potential of this market limitless.

Helen pointed out in the prospectus that the total revenue of China pub industry increased from about 84.4 billion yuan in 2115 to about 117.9 billion yuan in 2119, with a compound growth rate of 8.7%, and it is expected to increase to 183.9 billion yuan in 2125.

in the future, if the industry maintains this growth rate, the pub track will generate a market scale of nearly 211 billion. This is a typical "bistro, big business". Although the current mode is simple, the competitiveness and differences of each family are not obvious, it is hard to say that it will not produce pub brands that run out of a larger market.

"hellens effect": The news that catering enterprises entered the market and went public in hellens has, to some extent, led to the trend of layout of pub consumption scenes, and many catering enterprises have also begun to layout pub business. From Guimanlong to hometown chicken, from Dongpo of Meizhou to Xijiade, the gust of "low-degree drunkenness" in taverns gradually spread to Chinese food enterprises.

Take Laoxiang Chicken, a Chinese fast food company, as an example, it cut into the pub business by adding a drinking area in the store, while Xijiade launched an independent pub store to promote the pub consumption scene with its own brand advantages.

In contrast, Hu Bin, the founder of a catering brand, thinks that the "meal+wine" business of catering enterprises is more an exploration of the full-time business model and "future social scene". After all, the "meal+wine" model can directly increase the unit price and gross profit margin of customers and achieve more considerable human effects and profits.

The purpose of Chinese fast food brands and Fulao Noodles to launch pub sub-brands is driven by the purpose of finding incremental users and stimulating user growth.

generally speaking, this wave of "pub agitation" in China is due to the real demand in the market, and the brand represented by hellens has made achievements in this subdivided consumption scene. "The success of a model depends not only on the fit of market demand, but also on whether this category really helps consumers solve their actual needs," Hu Bin added.

on a larger scale, consumption upgrading is also a major factor to boost pub business. This is not only a simple price upgrade, but an upgrade based on the concept of life taste, that is, "eat+drink", which is more emotional. The younger customers make the traditional wine culture, from as drunk as a fiddler, not drunk and not returning, change into a light drink and a low degree of drunkenness, gradually tell the public about the extensive era, and move closer to the concept of fashion and restraint.

More importantly, the pub business has completed a "cultural breakthrough", which is largely due to the listing of Helen, making drinking popular and universal, and reducing the cost of industry education that is beneficial to consumers. Driven by the benefits and the track, there will be more catering enterprises and related brands in the future.

industrial difficulties

in Hu Bin's view, the most prominent advantage of hellens at present is the price, and other competitive advantages are not obvious. Under the magnifying effect of listing on brand and business, hellens proved the feasibility of this track with actual operation and data, and then proved the return on investment and profitability.

But it's not easy. Without exception, these problems encountered by hellens are also needed to be answered and solved by catering brands entering the pub business. The pub business itself has a scale, but it is not easy to make a profit from this model because of the low unit price and low turnover rate. What is more disadvantageous is that the pub business needs to keep opening stores to make money.

In terms of its own competitive advantage, hellens is attributed to its supply chain management ability. It believes that the quality of wine and drink and the taste of food depend on raw materials to a great extent, which requires extremely high inventory management and logistics ability in the business process.

according to Hu Bin's analysis, the problem of pure alcohol consumption is that the service mode of relying solely on alcohol like hellens is very difficult, and the profitability is unknown. Due to the different understanding of pubs in different regions of China, for many people, pubs are Chinese-style wine, and then mainly wine, but the understanding of some brands is "meal+wine", and the consumption of meal and wine constitutes the basic service of pubs.

regarding the future, hellens mentioned in the prospectus that with the continuous development of catering industry and pub industry in China, promoting and selling private brand culture and drinks will become a popular trend and a source of profit. Pubs can entrust the production of their own drinks with the same name and sell them. While promoting brand culture, they can increase the guest list and gross profit margin of drinks. But in fact, this road is not easy to take. The development path of private brands has been followed by brands before, but no one has succeeded.

this article is from Donews.