On 15 may, new menus were launched to adjust the price of single and double meals。
In the new menu, for example, the price of the zion ujumu lamb set was reduced from $72 to $64, and the price of the oxen and sheep meal was lowered from $148 to $134. The food package is “priced back to old times”。
Taken together, the average price of a single feeding meal is set at $58, the average price of a double meal is $130 and the average consumer unit price is below $60. Previously, the average price of the single-person package was $65 and the two-person package 145. In other words, the average price of the feeding menu has dropped by more than 10 per cent。
In the field of feeding, it is claimed that the whole food and consumption market is now rational, especially in the case of small hotpot tracks. In recent years, there has been a high number of emerging small-fired brands with lower unit prices, which seem to offer more opportunities for products in the lower price zones. “in practice, low prices alone may not be enough to take absolute advantage of a restaurant brand, and `price versus value' is the core competitiveness of brand versus brand
The main “one person eats” a small pot of fire, which developed into the “first part of the chain of fire” with super-high value. In 2014, when nursing was placed on the main board of hong kong joint association, it was at a single cost of $44. 4. By 2023, however, the financial report showed that the unit price of breastfeeding had reached $62. 2。
In january of this year, nursing has also been the cause of online debate over price increases. Netizens have found that the bottom has not increased, except for the original pot and the succubus pot, which has increased by $3. Breastfeeding also admitted the incident, indicating that the price increases varied slightly from region to region。
Not only is it a little hot pot to feed, but it is also considered “unaffordable” in today's downgraded consumption environment, which is another highly positioned hotpot brand under the umbrella of the feeding group。
In february of this year, the topic #per capita consumption was higher than undersea fishing # was hotter. In the case of consumers, the official customer service had previously responded that the bottom of the pot had been charged on the basis of the number of people, the more expensive. The adjustment was based on a fee based on the bottom type of the pot, and the larger the dish, the better it would be. At the same time, the client service noted that, prior to the price adjustment, the two-person pots were given back to consumers at below-cost sales prices。
According to the 2023 financial report, the single price of the boiler was $142. 3; this represents a 5. 7 per cent decrease from $150. 9 in the same period last year. The financial report is based on an increase in the size of some dishes in response to changes in the market environment, as well as the introduction of free-food cards to benefit more members。
Despite this, the unit price of the same year's passengers on the seabed next door has been reduced to less than $100, at $99. 1. Another colleague, the hot pot under the flag of ninety-nine cents, also had only $113 per passenger unit in 2023。
At the same time, the nursing group has suffered losses for three years。
According to the financial report, nursing earned $5,918 million in 2023, an increase of 25. 3 per cent over the same period; the owner of the company should account for a total loss of approximately $199 million during the year, a loss that was narrower than the previous year. This company earned $5,455 million in 2020, but net profits were only $183. 7 million, due to the effects of the epidemic and so on. The net loss increased to $283 million by 2021 and to $343 million by 2022. On this basis, the group has lost more than $800 million over a period of three years。
With regard to the 2023 losses, the lactation group explained that the projected closure and continued loss of the restaurant had resulted in a loss of less than 160 million yuan in 2023 for the company's stated impairment of the related assets, while at the same time, its operations had suffered a loss as a result of increasing competition and weak consumption in the current catering market and the impact of the downgrading on the positioning of the medium- and high-end brands。
In 2023, income from nursing and catering facilities remained the main source of revenue, representing 95. 9 per cent. Breastfeeding has increased the rate of out-turning of feeding restaurants from 2. 0 in 2022 to 2. 6 in 2023, through initiatives such as full-time feeding, multi-scene expansion and regionalization, and from 1. 9 to 2. 0 in the same period last year. In contrast, the rate of sea-water recovery in the same year was 3. 8. There is obviously much room for upgrading for the nursing group。
Photo taken: interface news
Similar to practices such as bottom fishing and the helens division, one of the practices of the feeding group in improving its performance is closure。
In 2023, 99 nursing and 15 catering restaurants were closed, bringing the total to 104. The financial statements state that the closure of these establishments is due to losses for most of them, most of them operating in areas that do not conform to the “high value” model promoted by breastfeeding. Prior to this, 229 shops were closed in 2021 and 84 again in 2022。
In fact, nursing has been trying to adapt the door shop model in recent years, including by reducing the size of the door shop and single-store inputs, so as to improve the performance of restaurants and reduce the return on investment in the door shop。
At the performance exchange held last march, the lactation group mentioned that the average size of the nursing shop was being reduced from 210 m2 in 2021 to 150 m2; and that it was being reduced from an average of 610 m2 in 2021 to about 450 m2 or even smaller. In 2024, the financial statements showed that the investment model of “heavy design, light construction materials” would be continued and that the space for price optimization would be further explored, for example, by introducing a fast-plug new shop model that would reduce the cost of construction by 10 per cent。
In response to the need to maintain brand competitiveness and scale-up effects, nursing groups continue to open businesses, albeit at a cautious pace。
As of the end of 2023, there were 833, and 257 nursing and catering shops. Among them, the second- and third-line cities were suspended in 2024, and the opening of new shops is still more concentrated in the more developed cities and regions of the first-line cities and some of the second-line cities. In 2024, plans were made to open 26 new hotpot restaurants in the mainland, comprising 3 in shanghai, 6 in jiang zhe province, 6 in guangdong, 3 in beijing and 8 in other areas。
According to the financial statements, this is mainly due to the overall recovery in the consumption environment at the beginning of 2023, which was much lower than expected, and the “consumer downgrade” has had a significant impact on the positioning of relatively high unit prices, which remain high relative to other competitors in the market。
In the case of nursing restaurants, the group proposed a plan to open no less than 100 restaurants in 2024, and no less than a three-trip rate for new shops. It is stated that the focus will continue to be on the development of the east china and south china markets, focusing on the rebranding of the south region, the competition for advantage points in the north region, and the creation of a visible image of high-priced hot pots through quality products and classic food packages。
For the time being, the reduction in the price of nursing may have paved the way for this planning. It also needs to face more intense competition in an era of emphasis on value for money。
