Growth opportunities under channel diversification
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Volume snack shops and other offline formats continue to implode in terms of snacking value for money, providing growth opportunities for brands.
As of October 2023, the number of snack collection shop outlets in China exceeded 22,000 [78], and Snacks are Busy, as the head brand, opened more than 4,000 shops in six years, and the number of shops has exceeded 6,500 after the merger with Zhao Yiming, holding the top spot. Wanchen Bio (with Haoxin brand snacks as its main focus) follows with more than 4,000 shops, and the number of shops of waist brands such as Love Snacks and Sugar Nest is mostly in the range of 500-2,000 shops.
The hotness of mass-market snacks cannot be separated from the underlying logic of hard discounts. By reducing distribution links and saving entry fees, mass-marketed snacks have lowered the average price of goods, with snacks are busy, for example, 40g of Lay's crisps are priced at 2.9 yuan, which is 1-2 yuan cheaper than supermarkets and convenience stores. [80] On the basis of low gross profit to attract customer flow, superimposed on high turnover and scale effect, mass-marketed snacks have become one of the most dynamic channels.
The hotness of mass-market snacks has also earned growth for snack brands. Against the backdrop of Snacks is Busy becoming the number one customer, Yantian Puzi's revenue in the first three quarters of 2023 increased by 52.54% year-on-year. [81] Other brands that have laid out mass-marketed snacks, such as Gan Yuan Foods and Jin Zai Foods, saw their net profits increase by 139.21% and 47.49% year-on-year in the first three quarters of 2023, respectively. In addition to strengthening channel co-operation, snack brands have also begun to invest in the mass-marketed snacks channel. in December 2023, Goodwill and Yanjin Puzi co-invested in Snacks Very Busy for 1.05 billion yuan.
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In short, casual snacks should not only taste good but also look good. Good-looking casual snacks can attract consumers' attention and increase their desire to buy; good-looking casual snacks can enhance the enjoyment of taste and make people have more appetite; good-looking casual snacks can enhance the brand image and increase sales. Therefore, casual snacks manufacturers should focus on appearance design, combining good taste and good looks to bring consumers a better experience.
The taste of leisure food is one of the important factors for people to choose
Overall, casual foods are favoured by consumers as a convenient snack option. They are not only rich in flavour and portable, but also have a long shelf life. However, in order to maintain good health, we should consume casual food in moderation to avoid excessive intake of calories and additives. At the same time, we should also choose healthier snack foods, such as sugar-free or low-sugar biscuits, natural and additive-free nuts, etc., in order to satisfy our cravings and at the same time ensure our health.
The development prospect of casual food in China is very broad
In terms of market competition, the casual food industry still has a lot of room for development despite fierce competition. The demand for casual food is particularly strong among the younger population. Competition among brands lies not only in product quality, but also in brand image and marketing strategies. In addition, as consumers' awareness of health and requirements for food safety increase, the market for healthy casual food will continue to grow, bringing new growth points for companies.
