After the rapid expansion, Haidilao, which was founded by one hand, has a worrying benefit and its share price has fallen again and again.
After the market value of Haidilao fell by 20 million yuan last week, its share price continued to fall. As of June 24th, the market value was only HK$ 654.38+095.6 billion, more than HK$ 260 billion more than the peak of HK$ 450 billion.
On word of mouth, there are also many doubts about Haidilao. Many consumers think that although the service of Haidilao is good, the taste is very general.
In this regard, Zhang Yong responded that the catering industry is different from the rocket. Rockets have standards, but the catering industry has no standards. Many people think that sea fishing is not delicious, not necessarily because it is really not delicious, but because it is expensive.
As the founder, Zhang Yong's answer seems to be car-scrapping, but in fact there is a lot of helplessness.
He knows that there are many problems in Haidilao, but whether it can be really solved may only be answered by time.
Before successfully establishing Haidilao, Zhang Yong failed to start a business three times.
At that time, he didn't want to do business, ready to go to work, get married and have children, and live a stable life.
But he found a girlfriend Shu Ping who loves hot pot very much, and encouraged Zhang Yong to start a business for the fourth time.
It happened that Shi Yonghong, a good friend, wanted to open a hot pot restaurant, so they scraped together 8,000 yuan, rented a store in Jianyang, Sichuan, set up four hot pot tables, and 1994 officially opened the first store in Haidilao.
But Zhang Yong doesn't have any experience, and there is no unique hot pot formula. There is no way. In order to keep the store open, Zhang Yong can only start with the service without technical content, and make customers feel satisfied in attitude.
Although at first, because of frequent mistakes, we sent more than we sold, but gradually our reputation disappeared and we began to have repeat customers.
When Zhang Yong saw that this method was feasible, he began to make the service to the extreme. As long as customers have needs, they will try their best to meet them.
Soon, with good service, Haidilao gained a firm foothold in Mianyang, but it also made Haidilao completely superstitious about service to win.
There is a saying in Haidilao, how to provide good service? Is to satisfy customers. What kind of service is better? That is to impress customers.
For so many years, Haidilao has been able to open thousands of branches all over the country, relying on service.
1999, Haidilao opened a branch in Xi 'an, which is also its first branch in other places.
However, after opening the store, local consumers did not recognize it. Because they have been losing money, they soon lost all their money in Haidilao.
Certainly not for such a long time, but Zhang Yong didn't want to give up so easily, so he sent his right-hand man, Yang Man Xiao Li, to take full charge and let him operate according to the core concept of Sichuan Haidilao-service above all else.
As a result, in less than two hours, under the care of Yang Xiaoli, Xi 'an Haidilao not only stopped losing money, but also succeeded in making a profit.
Since then, service has become the golden signboard of Haidilao.
But in recent years, sea fishing service seems to be no longer a panacea.
As early as 20 19, Haidilao opened 768 stores around the world. The company's annual revenue was 26.556 billion yuan, a year-on-year increase of 56.5%. Although it decreased by 3% compared with 20 18, the net profit reached 2.347 billion yuan, up 42.3% year-on-year.
However, in 2020, affected by the epidemic, the income of Haidilao in the first half of the year decreased by about 20% compared with the same period of 20 19, with a loss of 956 million. Although the performance in the second half of the year was good, the company achieved a net profit of 309 million yuan, but it also decreased by 86.8% year-on-year. Although revenue continued to grow, reaching 28.6 billion yuan for the whole year, up 7.8% year-on-year, this is actually the first time that the revenue growth rate has dropped to single digits since listing.
However, the profit of Haidilao 202 1 has not improved, but has declined.
After all, it is not rare when there is only service left in Haidilao.
Although these services are very intimate, with more and more Haidilao stores, people are getting used to them.
Some people even don't like the warm service of Haidilao and think it is over-service.
When Haidilao only relied on services for many years, the shortcomings became more and more prominent.
With the increasing number of Haidilao stores, the shortcomings of Haidilao are also highlighted one by one after consumers lose their freshness in service.
The most criticized thing is that Haidilao tastes ordinary and can't afford the name of the boss in the hot pot industry.
In fact, the poor taste of Haidilao has long been proved by data.
On 19 Tmall New Year Festival, a hot pot brand with less popularity than Haidilao sold more than 65,438+10,000 copies of bottom materials, which was called "the most authentic taste", but the sales of Haidilao bottom materials were flat.
At the same time, in 20 19, the turnover rate of Haidilao also began to decline. In 20 19, the overall turnover rate of Haidilao was 4.8 times/day, which was actually decreasing compared with 5 times/day in 20 18.
However, with the opening of a new store in Haidilao last year, the turnover rate dropped even more. In 2020, the turnover rate was only 3.5 times/day, a year-on-year decrease of 27%.
In addition to internal factors, the decline of Haidilao has great external competition.
In recent years, the star hot pot restaurant is very prosperous. Compared with Haidilao, the price is obviously close to the people, and with the blessing of star effect, it is deeply loved by many consumers.
Xiaolongkan's interior decoration style combines modern and retro features, and the bottom of the pot is full of fragrance. Despite the gutter oil incident, many people still like to eat delicious food.
The low-key hot pot brand "Banu Maodu Hot Pot" has always won the hearts of consumers with its quality. Its core business philosophy is "service is not the characteristic of Banu, but hairy belly and mushroom soup", which is very recognized by the public.
Under the attack of brands, Haidilao seems to be more difficult to survive.
Haidilao, which once relied on service to "overtake the curve", seems to have been unable to rely on service as the king.
Recently, Interface News conducted a comprehensive survey of hot pot brands. Although the popularity of Haidilao is still the first, the satisfaction of Banu beef omasum hotpot, which is obviously ranked third, is higher.
In the whole statistical process, Banu's non-negative information accounts for 99.55%, ranking first in the sub-item. It can also be seen from a detailed analysis of its related viewpoints that everyone's expectation and recognition of rinse hairy belly is very high.
In the capital market, Banu hot pot is also very popular.
Recently, the hot pot brand Banu received 500 million yuan in financing, which makes people feel that the leading position of Haidilao is the greatest affirmation of the concept that Jiji.com has always adhered to.
In fact, as early as March 2020, Banu had completed nearly 654.38 billion yuan of strategic financing, and the investor was Tomato Capital. It only took about one year to complete a high amount of financing. Besides the old shareholder Tomato Capital and investment, it also entered many well-known investment institutions such as Yuanfeng Capital, Nikko Capital and Gao Rong Capital. I have to say that Banu has a lot of room for development.
But if we understand the development of Banu in recent years, we can understand why it won the hearts of consumers and capital.
Banu beef omasum hotpot has been innovating since its establishment 20 years ago, although it is relatively low-key.
For example, in March 20 1 1 year, wild mushroom soup black-bone chicken rolls were launched; On June 20 15, the natural face without dancing was launched; In February of the same year, natural fennel fritters without alum were introduced; On June 20 17, a seasonal limited edition of stupid spinach was introduced.
Different from Haidilao's efforts to provide services, Banu beef omasum hotpot always adheres to the concept of "productism".
Founder Du believes that only Do not forget your initiative mind can make a good chafing dish through continuous innovation.
Therefore, even common dishes such as potatoes and cabbages, Banu Maodu Hotpot hopes to bring customers different ways to eat.
Last year, in order to ensure that the ingredients are fresh enough, Banu proposed to build a third-generation supply chain based on the previous two generations, shouting the slogan "Can be cold and fresh, can't be frozen, can't be added naturally and can't stay overnight", and invested/kloc-0.5 billion to build four central kitchens in North China, Central China, East China and South China, equipped with intelligent and all-round temperature control systems, which can provide the healthiest raw materials for restaurants, even food with short shelf life. And in Chongqing, it has a base material processing base integrating R&D and production.
In addition, Banu also opened up a new hot pot sub-brand "Taoniang Boiled Small Hot Pot" to further explore hot pot.
To tell the truth, there is still market potential, and the key depends on how the brand does it.
For diners, the food itself is the most important, and the flow or service is just the icing on the cake.
Which century-old shop didn't survive by the exclusive secret recipe of food?
We should not only pay attention to "superficial kung fu", but also pay attention to the quality of food. This is the original intention of catering. I just don't know if Haidilao remembers it.