130,000 milk tea shops closed in one year, and heytea sent an internal letter saying it would control the density of stores
2024-09-19
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the new tea beverage market has entered a cooling-off period after the fierce competition. some brands have closed stores in the face of fierce competition, while some brands will control the speed of store expansion.
on september 18, a reporter from china business news learned that heytea issued an internal letter to its business partners. in the internal letter, heytea pointed out that it would not produce homogeneous products or simply sell at low prices, but would launch more differentiated products and brand activities.
at the same time, heytea also stated that it will not pursue the speed and quantity of store openings in the short term. in the next few months, it will control the density of stores and pay more attention to the quality of store opening and store operation quality.
with the changes in the consumption environment and the increasingly fierce competition in the tea beverage market, the development of the tea beverage industry is facing new challenges. in an internal letter, heytea pointed out that due to the lack of synchronization between the growth of consumer demand and the growth of the overall supply of the tea beverage industry, facing limited consumer demand, the industry generally chose similar product and brand strategies, resulting in increasingly intense homogeneous competition.
the meager profits brought by product homogeneity and price wars have caused many new tea drink franchisees to withdraw. according to data released by zhaimen canyan in august, the total number of stores in the "milk tea drink" market segment has climbed to 431,753. however, although 167,347 new stores were opened in the past year, the net increase was only 35,518. in other words, behind the prosperity of new stores, more than 130,000 stores actually chose to close in the past year. the tea drink industry is highly competitive and the reshuffle is accelerating.
heytea said that it will not do homogenized things in the future. in an internal letter, heytea mentioned the previously launched champion slimming bottle and revealed that the total sales of this differentiated new product exceeded 8.7 million bottles. this product is a new category of "super plant tea" launched against the background of the popularity of light milk tea in the industry.
although some heytea stores have been closed this year, the overall scale of heytea stores has continued to grow. heytea currently has more than 4,300 stores, and more than 1,100 new stores will be added in 2024. despite this, heytea stated in an internal letter that it will not pursue the speed and number of store openings in the short term, but will focus more on the quality of store openings and store operation quality. "store size is not the key to the tea industry."
(this article comes from china business network)
