Quanjude's losses, in the short term, is the impact of the epidemic, but the long-term reason, is its low level of service, while prices are high, resulting in products continue to move away from the public, revenue is not as good as a year. According to the latest data released by Quanjude, Quanjude's revenue in the first three quarters was 510 million, a 55% year-on-year decrease, with a loss of more than 200 million yuan. And only the third quarter loss of more than fifty million dollars, revenue is not better, continue to fall more than 50%. Although the performance of the catering industry after the epidemic are not good, but by the third quarter of the catering industry has begun to improve, but Quanjude's performance is still declining seriously, it is difficult to understand.

And view Quanjude previous years results to learn, Quanjude in 2020, has been three consecutive years of performance decline, the first three years of profits totaled about 200 million, and the first three quarters of this year's loss of more than 200 million, that is to say, three quarters of the loss of the first three years of profits. After the news, Quanjude's market capitalization was also stopped and its stock price plummeted, and of course it has been falling for three years.

Not expensive Compared to the impact of the outbreak, Quanjude's word-of-mouth crisis, is the biggest problem. In recent years, in the context of food review sites continue to flourish, the public on the Quanjude more and more trolls, netizens of the trolls mainly focused on its food prices are too high, but also the level of service is low, the dishes are not innovative, relatively old. Quanjude in the face of the increasingly withering word of mouth, but also have to admit that their products are really outdated in the market, and the business model is very single, customer traffic continues to decline, facing greater challenges.

And after the outbreak of the epidemic, Quanjude also announced a reform of its stores, first of all, the abolition of the store service fee, the price of food down 15%, and promised to unify the production process of good food, so that the cost down, and better service to customers. Quanjude in 2007, landed on the Shenzhen Stock Exchange, was still the first shares of food and beverage, but now due to market competition, low service, resulting in market value contraction, but also let a lot of Quanjude's old customers feel pity.