Consumption upgrade drives the recovery of the instant noodle market, Master Kong's revenue accounted for double growth

I still remember that the instant noodle industry seemed to have become the biggest victim in the money-burning subsidy battle of food delivery platforms in the past few years.
This industry phenomenon of "fire at the gates of the city, killing pond fish" has always been talked about by people, saying that "the one who defeats you is in a place you can't imagine.
"

But this only explains part of the facts.

Any kind of commodity will go through the stage from short supply, to balance of supply and demand, to oversupply.

When this stage is reached, as long as there is no innovation to further stimulate market demand, regardless of external invasion, it is inevitable that the stock market will decline.
For example, the current food delivery is also facing the distress of the growth cliff.

For the convenience food industry, takeaway is only one of the external causes, and the lack of internal innovation is the fundamental reason for the market downturn.

After all, in the past few years when the takeaway market was in full swing, the trend of healthy eating has also quietly struck.
In the convenience food industry, it is difficult to break into the new trend of healthy eating and consumption without changing the unhealthy and nutritious stereotypes.

Fortunately, after the oversupply in the market, there will be a new "supply in short supply", that is, consumption upgrades.

At this stage, whoever does "stock innovation" first will be able to seize the new market again.

When market demand is reactivated, instant noodles are still consumers’ first choice for fast food

Therefore, whether it is the instant noodles on supermarket shelves having more and more flavor choices, or the increase in sales data of the entire industry, especially the high-end new categories of instant noodles, it proves that instant noodles have "returned the king.

"

According to data released by the 2020 Convenience Food Conference, my country's instant noodle market has reached 99 billion yuan in 2020, and a market of 100 billion yuan is about to emerge.

Among them, Master Kong's sales accounted for 46.
3% of the market, and the market concentration of CR2 reached more than 60%.
(According to Nielsen data in the financial reports of both parties)

So, how did the instant noodle market that was once caught off guard by takeaways due to lack of innovation? How did you subvert yourself and create a new market pattern?

Analyze the achievements and actions of the industry giants, and the answer will be clear and clear.

Promote "stock innovation", Master Kong's revenue and market share double growth

Promote "stock innovation", Master Kong's revenue and market share double growth

Recently, listed companies in industries such as Master Kong and Uni-President have successively issued 2020 performance announcements.

Master Kong instant noodle business 2020 financial report data

Financial report data shows that Master Kong Holdings realized a profit of 67.

618 billion yuan in 2020, a year-on-year increase of 9.
10%.
Among them, the instant noodle business revenue was 29.
51 billion yuan, a year-on-year increase of 16.
64%, accounting for 43.
64% of the total revenue.

And Uni-President’s revenue in 2020 was 22.

761 billion yuan, a year-on-year increase of 3.
4%.
Among them, instant noodle business revenue rose 7.
2% to 9.
055 billion yuan.

In terms of the market share of instant noodles in its core business, according to Nielsen data calculations, Master Kong's instant noodles accounted for 46.

3%, and the unified party accounted for 14.
21%.
Together, the two giants have already taken half of the instant noodle market.

Although the unified total revenue and the revenue of the instant noodle business are far less than Master Kong, the growing data represents the positive development trend of the entire industry.

Under this circumstance, Master Kong not only achieved double growth in revenue and market share, but also outperformed the industry in the growth of instant noodles and beverages in core categories.

Its exploration and practice of "stock innovation" is not only a representative case of the convenience food and beverage industry, but also an innovative "formula" for many new consumer brands.

In this regard, Meng Suhe, chairman of the Chinese Society of Food Science and Technology, said: “The entire convenience food is transforming from a'price war' to a'value war' to achieve healthy and delicious food.
The entire industry has entered the 2.
0 era relying on independent innovation equipment.
"

Taking the innovative path explored by Master Kong as an example, the characteristics of the convenience food 2.
0 era are manifested in at least three aspects.

First, cut into the segmented scenes, enhance the product power of the user experience side, and "pervasively" create healthy and delicious products that meet the needs of consumers.

Focusing on the new consumer demand in the new era, Master Kong starts with all the elements of raw materials, technology, packaging, ingredients, etc.
In terms of product strength, not only has outstanding appearance, excellent quality, healthier and more nutrition, but also diversified specifications and diversified tastes.
Consumers in the circle can find their own "that bite of delicious".

For example, for vegetarians, fans of Sichuan spicy tastes, small-meal consumers and other consumer groups, Master Kong has launched new products such as vegan instant noodles, Sichuan spicy sirloin noodles, dim sum cup noodles, hand-made noodles, a lot of dishes, and a new version of Soup Master.
The vegetable content of "Cai Duoduo instant noodles in mini buckets" has increased, which improves the protection of health and deliciousness.

Since its inception, Master Kong instant noodles have developed more than 260 flavors of instant noodles.
They use "big meat" and "rich broth" to describe the standard of noodle-level good noodles.
The super high-end product Suda noodle series is based on "FD freeze-drying technology".
", "Broth Extraction Technology" and "RP Rapid Prototyping Technology" benchmark aerospace quality, meet the expectations of more people, and meet the consumer demand for continuous upgrades.

At the same time, Master Kong continues to increase investment in food safety, building a global sustainable supply chain, energy saving and emission reduction in the production and processing of products, and fulfills corporate social responsibility with the concept of "good for good".
With the goal of sustainable development, instant noodles become a veritable safe, safe, green and healthy product.

The advent of Suda Noodle House has refreshed consumers' perception of traditional instant noodles

Second, actively embrace digitalization, connect different touch points through brand marketing digitalization, accumulate digital users, expand the customer base for the brand, and increase customer stickiness.

Since last year, the cognition and transformation of digitalization in all walks of life has reached an unprecedented height.

However, Master Kong, who has a long-established layout in digitalization, has been involved in digital exploration for several years, and has withstood the test of the epidemic.
He has turned from Internet participants, learners, and gorgeously turned to use data to run through the entire industry chain and empower upstream and downstream digitalization.
Ecological leader.

As early as at the World Internet Conference in Wuzhen in 2018, Master Kong laid out a new ecological blueprint for smart business consisting of “smart manufacturing, smart marketing, and smart channels”; in 2019, Master Kong launched the commercial application of “from retail to the entire chain” A new journey; in 2020, Master Kong announced the establishment of the first big data research institute, launched a big data joint construction project with JD.
com and Wharton School of Business, and formally signed a strategic cooperation agreement with Tencent in December to jointly build a “full scale” in the FMCG industry.
Link digitization".

As a result, during the 2020 epidemic, Master Kong was able to restart production as soon as possible, and use big data to solve the problems of production and sales coordination, logistics and transportation, and raw material supply to meet the surge of market demand, and interact with consumers through social media.
It conveys a healthy and delicious consumption mindset, attracting more young and family consumers.

The advancement of digital strategy greatly enhances Master Kong's "immediate combat power"

In the future, as Master Kong further optimizes and upgrades big data and artificial intelligence technologies, and further reshapes and innovates business models, management models, and development models, it will release greater brand value in the digital wave.

Third, increase the spiritual added value, build a youthful brand power through rejuvenation methods such as cross-industry and IP co-branding, and give users a delicious and fun personalized experience.

CBNData released the "2020 China Internet Consumption Ecological Big Data Report", showing that the new generation of consumers, mainly born in the 1990s and Generation Z, are becoming the main players in consumption.
They are easy to be planted, willing to try new things, and pay more attention to quality and experience.
In the current entire consumer market, a very obvious trend is that a new generation of consumers is accelerating the stratification with interests and preferences, and consumer demand is becoming more and more "different from person to person.
"

In other words, in addition to delicious food, young consumers need more fun and personalized consumer experience.

In order to satisfy the personal experience of young consumers and inject fresh vitality into the brand, Master Kong is busy in 2020, allowing all kinds of unexpected co-branding to blow up the circle of young people’s friends.
For example, the food king fried combination "Master Kong Suda Noodle House X Adopt a Cow IP Joint Gift Box", call "Master Kong x UC Browser Backbone Youth Limited Joint Gift Box" for the backbone youth, and good noodles start from the soup "Master Kong x Su Dongpo Joint Gift Box" , "Four Kings Gift Box" with classic taste of childhood memories.

In addition, Master Kong has also cooperated with top IPs such as Netcom "Qihua Shuo", "Luo Tianyi", "Peace Elite" and other top IPs, and has brought a vivid, three-dimensional and young brand into the social circle of young people.

Through scientific cooperation with China’s aerospace industry, Master Kong has narrowed the communication distance with the younger generation.

The products are delicious and healthy, and there are also fun and novel experiences.
Young people who have realized the dual enjoyment of taste buds and spirit, it is hard not to fall in love with the "playful" Master Kong!

Under the premise of comprehensively promoting the iterative upgrade of products and shaping the power of delicious and healthy products, Master Kong is advancing digitalization on the one hand and rejuvenating on the other hand.
Such measures are not only the "stock innovation" methodology of the convenience food industry, but also the entire consumption.
The innovative "formula" of the market.

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