The founder son of Want Want Group set up a circle because of funny people! Do netizens want wild consumption again？
With the second son out of the circle, Want Want is "prosperous" again.
Want Want is out of the circle, not by the snow cake milk spree, but by the second generation of funny people.
On August 5th, some netizens picked out Weibo, the founder of the second generation Cai Wang family of Want Want Group. Because of his humorous and interesting speaking style, he poked a "joke", which triggered a heated discussion among netizens.
"Weibo, the second son, contracted all my jokes today." "The private number of the second son is as active as an official number." "Want Want employees: someone else’s boss is an overbearing president, and my boss is a funny man?" The comment area is crowded with netizens who come to punch in.
It is reported that Cai Wangjia is the second son of Cai Yanming, chairman, chief executive officer and executive director of Want Want Group, and currently serves as chief operating officer of Want Want Group and vice president of milk and beverage business group.
The topic of "Want Want" has also successfully boarded the hot search, and won the top of the hot search list in a short time. As of press time, this topic has received more than 800 million readings.
In response to the heat situation, on August 5, Time Weekly reporter contacted Want Want for an interview, and has not yet replied before the press release.
Wang Wang Chu quan Ji
With the second son out of the circle, Want Want is "prosperous" again.
"We only go to products around 30 yuan, and we are afraid of wild consumption." On August 5th, the reporter of Time Weekly was in Wangwang official live broadcast room "Wangzi Club", and the anchor held Wangwang snow cake to carry the goods, and the slogan "Please consume rationally" was marked on the right side of the live broadcast room. "Let the second son bring the goods", "Link on the second son" and "You are prosperous, I am prosperous, and everyone is prosperous" … The netizens at the bottom have left comments and placed orders with passion.
According to the data of flying melon, as of 18: 00 on August 5, the number of people watching Wangwang live room was close to 100,000, and the estimated sales exceeded 200,000 yuan. Previously, the number of people watching Wangwang live room was around 10,000-30,000, and the highest single-game sales in 7 days was around 100,000 yuan.
On the same day, the customer service of Want Want Food flagship store told Times Weekly that many consumers saw hot search to place orders, and the sales of stores surged.
And the pieces of Want Want Snow Cake sold here have a little-known family history of Taiwan, China boss.
Cai Yanming, the founder of Want Want Group, was keen on "wandering the streets" when he was young, and he was a typical "rich three generations".
At the age of 19, he took over the predecessor of Want Want Group from his father-Yilan Food Factory, whose main business was food OEM and export. Three years later, in 1979, Cai Yanming brought the rice fruit technology he learned from Japan back to the factory and changed the name of the factory to Want Want; In the same year, the image of "Wangzai" with a magic smile was officially born. In 1983, Wangwang brand was formally established.
In 1992, Cai Yanming, smelling business opportunities, began to enter the mainland market and successfully set up its first factory in Hunan two years later. Then, facing the policy outlet, Cai Yanming led Want Want to gain a foothold in the China market.
Then, "You are prosperous, I am prosperous, everyone is prosperous" and "Look at me again, and I will drink you!" "Li Ziming, a classmate in Class 6, Grade 3" and other magical "brainwashing" circulating advertising words spread all over the country, and "Wangzai" also jumped up and became the light of snacks in the hearts of post-80 s and post-90 s.
For many years, Want Want Group attached importance to sinking market and regarded it as one of its core competitiveness.
According to the data of Huachuang Securities, around 2008, Want Want had more than 1 million terminal outlets. In addition, at the end of 2007, Want Want launched the "Send Wang to the Countryside" activity, in which the sales staff equipped with trucks directly face the orders of township terminals and deliver goods, continuously improving the penetration rate of township cities. By 2010, the project had covered 1,500 counties across the country.
According to the data of official website, Want Want has invested and set up 34 independent branches, 19 non-real split companies and 422 business offices.
In terms of products, in addition to the classic rice and fruit products such as Wangwang Snow Cake and Wangwang Xianbei, Wangwang Group has successively launched snack segmentation track products such as Wangzai milk, Wangwang steamed bread, Wangwang crushed ice and Wangzai QQ candy. At this point, Want Want has also transformed from a rice fruit factory into a food and beverage company. In 2007, China Want Want Holdings Limited was established.
Open up cross-border territory
The magical advertising language spread all over the country became famous, and Want Want once earned a lot of money.
The financial report shows that in golden decade from 2004 to 2013, the compound growth rate of Want Want’s total revenue reached 21%. In 2013 alone, Want Want’s total revenue was as high as 23.6 billion yuan, and its total market value exceeded 160 billion Hong Kong dollars.
At that time, Wangwang’s "Wangzai Milk" became a star product, which basically supported half of Wangwang’s performance. According to the financial report, the total income of Wangzi milk in 2013 was about 11.2 billion yuan, accounting for about 48% of the total revenue.
However, after walking through golden decade, Want Want gradually showed signs of fatigue. According to the data, the annual revenue of Want Want from 2014 to 2016 was 23.1 billion yuan, 22.3 billion yuan and 19.7 billion yuan respectively, and the revenue declined for three consecutive years.
"The market performance is weak, the sales method is traditional, and the response to market demand lags behind." Previously, Shen Meng, director of chansons Capital, told Times Weekly that Want Want was gradually aging in its brand and products.
To this end, Want Want began to differentiate its business strategy and explore new channels for cross-border marketing.
In 2015, Want Want successively launched independent new brands such as Bond Coffee, Aizhizun and Mr.HOT, targeting many customers such as mothers and babies, white-collar women, middle-aged and young consumers; In 2019, Want Want launched the young snack brand Fix XBody； with the way of controlling daily calorie intake as the highlight; In February, 2022, Want Want released a new wine and drink product-it’s OK, "Mei" relationship! Longjing plum wine At present, it has been put on the shelves of Want Want Food Tmall flagship store, and the price of new products is 77 yuan/bottle.
At the same time, Want Want tried to cross the border to the end and constantly explore the cross-border territory.
From setting up a hospital, getting involved in insurance and providing for the aged, to co-branding beauty products and fashion brands, and opening home and theme stores, Want Want’s cross-border "gameplay" emerges endlessly. In the latest May 2022, Want Want also announced the launch of a limited collection of trendy dolls. Each doll enjoys its own unique number, with a unique digital collection certificate. The "Collection Series" is limited to 12 models, and each model sells 1111 pieces.
Even if it is keen on cross-border marketing and exploring the direction of rejuvenation, Want Want has not completely got rid of the "aging" crisis.
In June 2022, Want Want released its annual report for fiscal year 2021, with revenue of 23.985 billion yuan, a year-on-year increase of 9%. The net profit of returning to the mother was 4.203 billion yuan, a year-on-year increase of 1.1%. Despite the increase in revenue, Want Want’s gross profit margin fell by 3.4% year-on-year, only 44.8%; Operating profit margin decreased by 3.3% to 22.8%, and operating profit decreased by 4.9% year-on-year.