When I was in college, I always thought of Quanjude Roast Duck when I mentioned Beijing. I heard about this century-old store since I was a child, and I thought I would punch in when I went to Beijing.

Quanjude was founded in 1864 (the third year of Tongzhi in Qing Dynasty), and was recognized as a "well-known trademark" by the State Administration for Industry and Commerce in 1999, with a history of 156 years.

At the peak of Quanjude, it sold 21,111 copies a day. Because of this, Quanjude has gradually become a cultural symbol with Beijing characteristics, even a "signboard" in Beijing.

In 2114, I came to Beijing to play and uprooted the front store of Quanjude. After waiting in line for 41 minutes, I got a seat, and with the service charge of 15%, three people spent 811+, which was simply worse for the already poor university life.

However, after graduating and living in Beijing, I looked at Quanjude in front of my house every day and found that most of the people who entered the store were tour groups. Many tourists said that after tasting it once, they didn't want to come again.

gradually, "expensive and unpalatable" has become a new label of Quanjude, and its reputation is declining.

On August 26th, Quanjude released its results for the first half of 2121. According to the data, during the reporting period, Quanjude achieved operating income of 313 million yuan, a year-on-year decrease of 58.77%. The net profit attributable to shareholders of listed companies was-48 million yuan, a year-on-year decrease of 559.83%.

The net profit of Quanjude in 2118 and 2119 was RMB 73 million and RMB 45 million respectively, which means that Quanjude lost the net profit of the previous two years in the past six months.

Quanjude attributed the decline in performance to the impact of the COVID-19 epidemic, which greatly reduced the number of customers in the original catering market and hit the company's catering and commodity sales business hard.

The number of restaurant receptionists in its direct-operated stores dropped sharply, and the epidemic situation in Beijing rebounded in June, which further frustrated it.

The recovery of passenger flow and income of main stores in Beijing is less than expected; In terms of commodity sales, the sales of vacuum roast duck, duck blank and other products declined.

However, the weak performance growth of Quanjude is not a short-term phenomenon.

Quanjude's roast duck itself may not be particularly expensive, and a part of the high consumption lies in the brand premium and service fee.

Many people spend thousands of dollars to eat the national roast duck with great interest, but there is nothing special about it. It is normal to give a bad review for the experience with extremely low cost performance.

As a city with a relatively dense tourist population, Beijing hosts tens of millions of tourists from all over the world every year, and everyone has different tastes.

Quanjude, as an old-fashioned store, will not change much in practice and taste, and a single practice can hardly satisfy the tastes of all tourists.

For the rest of this year, the situation in Quanjude is still not optimistic.

the impact of the epidemic on the company's business will continue. The net profit in the first three quarters will drop by 499.21%-442.18% year-on-year, and the loss will reach 811-211 million yuan.

The poor revenue made Quanjude's cash flow tight. In order to supplement its working capital, the company made use of tax incentives during the reporting period to exempt or postpone some taxes.

in the first half of this year, the non-recurring profit and loss of quanjude during the reporting period amounted to 7,936,411 yuan, including 2,473,411 yuan of government subsidies and nearly 6 million yuan of investment income, which alleviated its losses in the first half of the year to some extent.

during the epidemic period, Quanjude also took a series of measures to save itself further, in an attempt to save the losing customers.

on July 24th, Quanjude announced that the price of some dishes would be lowered by 11%-15%, and all store halls would no longer charge service fees.

Taking roast duck as an example, the membership price of Quanjude roast duck has been lowered from 258 yuan to 238 yuan.

In addition, Quanjude is actively studying the preferences of young people, and the post-81s, post-91s and even post-11s are all research objects of Quanjude.

At present, 611 square meters of space has been set aside on the first floor of Hepingmen Store, and a brand-new store with a new Chinese style will be built with emphasis on young consumers. I hope more young people can take Quanjude as an option for dining.

Actually, if you think about it carefully, Quanjude has developed to the present and made full use of its inherent advantages as an old brand. Now, their initiative to change has achieved something in catering to the tastes of young people, but it has gradually made the inside story of its old brand disappear.

as a giant in the service industry, the most important thing to change is the service level to consumers.

if the service consciousness is not changed, this century-old brand will inevitably fall behind the times.