CBN Friday Special丨Tea is the new coffee: China’s “new-style tea” takes domestic market by storm

ing in the Hong Kong Stock Exchange in 2021. And the popular beverage chain Sexy Tea was complained by its staff for lowering the salary after halting about 80 stores in 2021, while HeyTea scrambled to defuse rumours on a massive layoffas it is reportedly preparing for an IPO.

S:Like many other businesses in the food and drink industry, milk tea brands are also hard hit by the pandemic, with Sexy Tea shutting down dozens of its physical stores across the country last year, and the Guangzhou-based Lelecha closed its last store in the city last month, due to declined revenue and increasing cost in raw materials, on top of the impact of the ongoing pandemic, which has made any catering service rely heavily on takeaway online orders as their lead revenue format.

R:Although the number of businesses is fast-growing, there's an increasing number of firms shutting down. For individuals who want to start a business, data shows that tea drinks stores are among the business choices that are most likely to fail. The average life span of tea drinks stores is less than 14 months, half of that of coffee shops. Data from a food and beverage industry research institute shows that 65 percent of the stores couldn’t survive the first year. Analystsconcludethree main reasons for the stores’ failures, including severe product homogenization, supply chain shortage, and lacking innovation.

S:Nonetheless, hot money continues to flow into the industry. Investment into tea drink makers hit a 10-year peak in the first six months of 2021, with more than 5.3 billion yuan flowing in, according to Chinese Venture magazine. There are a few reasons behind investors’ passion in tea. First, tea drinks contain addictive substances like caffeine, which also helps people feel happier and less tired. Second, the classic combination of caffeine, sugar and fats is what our body desires, regardless of health. Last but not least, tea is more popular and widely accepted in China than coffee, as the tea industry has a market scale five times bigger than that of coffee. But the industry is at a crossroads where it must contend with over competition and an investment frenzy.

R:You’re right. The mania of investment could easily create a bubble in the market, while what tea brands should pay more attention to, is how to improve their products and services in order to rebrand themselves as healthy, tasty food providers. Because preferences have changed, with more Chinese consumers concerned about food safety and health. Typical milk tea consumers, 70 percent of whom are millennials and Gen-Zs, care most about the quality and safety of tea drinks, a survey by CBNData shows.

S:Apart from a trend to eat and drink healthier, customers are more price-sensitive in wake of the pandemic. So the latest price cut of HeyTea and Nayuki is deemed to be a move to reposition itself as a more affordable drink brand, with a decent profit gain laying the foundation. Such a move strengthens their positions in a time other brands have weakened, with their most ardent consumers naturally delighted to get the same high-quality product for less cost.

R:Also, in order to be more attractive to Gen-Zs, beverage brands are putting more effort in digital construction, ranging from online ordering services to virtual humans. For example, Nayuki released its first virtual brand ambassador NAYUKI in December last year, together with blind boxes, art toys, and NFTs of the character, raking in 190 million yuan in 72 hours.

S:Analysts also suggest that brands could expand the “social functions” of their products, as data shows that 46 percent of the Gen-Z consumers buy tea beverage drinks to connect with their friends, lovers, and colleagues. HeyTea is trying to do so by starting live-streaming shows, which aims to tell stories of the brand and arouse consumers' empathy.

R:Right. Oh look Stephanie, our milk tea order is on its way here. So before we end, a quick look at the stock market. Chinese stocks closed lower on Friday as the CIPS and oil and gas sectors recorded losses. The benchmark Shanghai Composite lost 0.96 percent and the Shenzhen Component was down 1.37 percent. The Hang Seng Index tumbled 2.5 percent, dragged by the TECH sector.

你那时候喝醉黄酒了吗？

那时候“靠奶黄酒道经命”成了不少年长人的广告词，这种一脉相承于源远的传统黄酒文化的黄酒饮，当人们第一次将黄油加入到黄酒汤之中，仿佛打开了从新纪元的大门。然而，随着近代化黄酒饮店如相继般地涌现街头巷尾，黄酒饮服务业的赛车也日渐狭小。

前有黄酒颜悦色减薪工潮，后有喜黄酒被传大减薪，虽后者立即进行了澄清，但服务业的困难不亚于。据了解，有不少年长人企业家选用就是近代化黄酒饮，但同时这也是失败率最高的赛车之一。

2022年2年初23日，黄酒饮生产商贝贝黄酒的东莞再次一家分店年末闭店。自此，从2018年在东莞双店齐开后不到四年，贝贝黄酒退出了华之中地区的从新黄酒饮市场需求。以前，贝贝黄酒早已暂停了西安等地的其他分店。贝贝黄酒层面问到，暂停其他地区分店，是为了集之中精力聚焦华东地区市场需求，扎实自身基础。

贝贝黄酒撤退的华之中市场需求，也是另外两家黄酒饮三巨头喜黄酒、奈雪的黄酒的主力军。两个黄酒饮生产商都起源于广东深圳，在贝贝黄酒撤退后，它们相继年初牛奶的产品。喜黄酒年初牛奶市价调低5-25元多达，上半年“谢幕30元”。紧接着奈雪的黄酒也减至了售价，极少产品市价略低于30元。

近年，黄酒饮生产商的竞争越来越激烈。被称为“黄酒饮第一股”奈雪的黄酒发布公告称，预料2021年净亏损约人民币1.35亿元-1.65亿元。而此前3年奈雪早已亏了3亿有余。月内，黄酒颜悦色境遇了3次集之中关店，非常少11年初就暂停了长沙78家分店，其后又实施降薪，引起职员愤慨。

除了头部生产商，还有大量年长人为了让近代化黄酒饮进行企业家，但这也是最容易失败的企业家为了让之一。餐饮服务业大图表研究机构《餐宝典》发布的一份报告称，在现在公开转让的餐饮店之中，黄酒饮店年限最短，平均年限只有13.63个年初，是咖啡店年限的一半，且64.7%的黄酒饮转让店无法撑过1年。

分析相信，引发这一现象的原因主要有三个：第一，产品同质化严重；第二，单体店供应链遗漏，易显现出来品控遗漏；第三，利于创从新力，一旦从升级版调子比不上，就容易引发用户流失。

虽然从单店或初创生产商来看比率很低，但从近代化黄酒饮服务业这不看即使如此空间广阔。首先，近代化黄酒饮具备轻度伤害性基础。黄酒饮之中的黄酒成份里有黄酒碱、咖啡碱、可可碱，具备振奋精神、除去呼吸困难等功效时也有一定的伤害性。

其次，黄酒饮之中的“咖啡因+酪蛋白+三酸甘油酯”的配对尽可能容易使增值者觉得感官。再度，对比咖啡市场需求，黄酒在之华北地区增值者心底具备更好的实用性和感官地位。据伊恩咨询的图表看出，2020年，整个黄酒市场需求在非酒精饮料市场需求之中的占有比为年末咖啡市场需求规模的6.3倍。

分析相信，对于黄酒饮生产商来说，从更进一步后所在于制伏Z数代。以95后、00后年长社会群体偏重于的“Z数代”早已已是黄酒饮的主要增值者。为了制伏这一目标增值社会群体，黄酒饮生产商悄悄“小数基础设施”、“社交要素”两层面发力。

在小数基础设施层面，除了延缓线上摄像持续发展，启动时远程点单业务，更要通过摄像对生产商赋能。例如，2021年12年初7日，奈雪6周年生日第一集，全从新生产商外交部长——NAYUKI（虚拟人物）登场，并以“录播+盲盒+潮玩+小数藏品”多元营销除此以外72小时斩获GMV1.9亿元。

而在社交要素层面，美团图表看出，95后喝醉奶黄酒，有46%是为了联络好友内心，最主要办公室的老友下午黄酒、情侣前女友等。为加大这一要素，喜黄酒也想法了制作者录播细节，通过介绍产品故事，赋予生产商湿度，达到与增值者“共情”。

再次来看一下那时候股市上交所情况。周日A股低开，沪指急跌0.96%，深成指急跌1.37%，企业家板指急跌1.55%。服务业板块层面，钻井、CIPS等领急跌。恒生银行指数收急跌2.5%，恒生银行科指急跌超4%道经创从新低。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI, ZHANG Ran

Writer: Stephanie LI, ZHANG Ran

Sound Editor: ZHANG Ran

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Co-produced by 21st Century Business Herald Dept. of Overseas News & SFC Audio/Video Dept.

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