In recent years, online shopping, takeout and other forms of providing convenient services for life have gradually emerged in China, which has also spawned the so-called “lazy economy”. In particular, the pace of life of contemporary young people is relatively fast. In order to save time and effort, people rely more on the “lazy” product of convenience food. According to the consumption data of lazy people released by Taobao, Chinese people spend more than 10 billion every year on “laziness”, and the demand for laziness after 1995 is growing rapidly. In terms of consumption of self heating convenience products, the proportion of post-95 and Post-00 groups is as high as 47.75%.
Among them, self heating hot pot is popular among young Chinese. Self heating hotpot is a kind of fast food, which can be cooked by adding cold water without fire or electricity. It is mainly composed of ingredients, ingredients pot, pot cover, outer pot and heating bag. Its heating principle is to use the material in the heating bag to contact with water, releasing heat, so as to make the food in the upper layer of food pot absorb heat and then increase the temperature. In China, the top three self heating hotpot brands most popular with young people are Zi Haiguo, Hai Dilao and Mo Xiaoxian.
In January 2018, the self heating hot pot series of Zi Haiguo was officially put into the market; At the end of March, the Tmall flagship store of Zi Haiguo went online and achieved the result of “No.1 single product sales in the whole network” within 24 hours. In 618, 2018, Zi Haiguo achieved the best performance of Tmall JD dual platform in terms of sales volume and traffic; In the third quarter, it achieved a sales volume of over 100 million yuan and entered the offline channels.
Self heating hotpot is a relatively new and controversial product. As a leader in the industry, Zi Haiguo has grown rapidly although it has not entered the market early, it even once achieved the brand name was regarded as a category word by consumers.
In 2017, Hai Dilao launched five self cooking hot pot products in the first batch, contributing 61.34 million yuan in revenue that year. From 60 million to 1 billion, Hai Dilao only took less than three years, which directly confirmed the dividend space of this category.
During the double 11 period in 2018, the turnover of self heating hot pot reached 4.53 million, 2.7 times higher than that in 2017. The epidemic accelerated the popularization and awareness of convenient self heating food, and became the “category winner” in the special period. Hai Dilao self heating series products were frequently out of stock.
In the self heating hot pot, Mo Xiaoxian quickly occupied the market with high cost performance. In August 2017, Mo Xiaoxian landed in Taobao, and in 2018, it became the first brand in Taobao’s self heating hot pot sales. In 2019, it achieved more than 400million sales, ranking second to Hai Dilao in the self hot pot, ranking the second in the industry. After the success of online, Mo Xiaoxian began to attack offline, and has covered more than 100000 terminal channels and 300 offline distributors.
In terms of price, Mo Xiaoxian locked in the price band of 10-20 yuan, and the sales volume of the company’s products in this price band also accounted for 80%. In terms of category, Mo Xiaoxian still adopts the strategy of main products, the reason is that it is the most efficient to make main products, and the supply chain is also the simplest. It is understood that Mo Xiaoxian’s market share in self heating hotpot has reached 8%.
From about 2017, self heating fast food began to break out. In 2019, China’s self heating food market reached 3.5 billion yuan. Affected by the epidemic, this self heating pot may sell 4 billion yuan in 2020. Hot pot tycoons Hai Dilao, Dezhuang, da Longyao and XiaoLongkan have entered the market. There are also new online brands such as Zi Haiguo and Mo Xiaoxian. There are also traditional convenience food tycoons such as Tongyi and Master Kang.
Why is self heating hot pot so hot? For those who have a sudden desire to eat, they don’t need to go to the hot pot shop to line up and wait for the pot. They can quickly eat at home and in the office. The experience can be described as quite friendly. Sour and spicy taste, stimulate dopamine secretion, make people full of happiness, spend less than 40 but harvest the illusion of eating hot pot.
Convenient instant food products meet the market demand of single, lonely, home economy and lazy economy under the pressure of fast-paced life. It is a consumption upgrading product of 3-5 yuan instant noodles in the original market. According to the data of the world instant noodle Association, in 2018, the sales volume of instant noodles in the world reached 103.6 billion copies, and the Chinese market accounted for 40.3 billion copies, accounting for 38.9% of the global sales volume of instant noodles, this shows that the market space of Chinese instant products is huge.