From the box of horse food, we can see some directions in the future.

Box Macai City debuted in Shanghai at the end of March. As one of the important new formats of Box Horse in 2019, it bears the strategic goal of sinking the market and the important mission of broadening the target group. Its actual operation status has attracted much attention from the market. Based on the results of grassroots research, we believe that Box Horse Market has taken the first step in the low-income group's affordable consumption in terms of business innovation and management, but its appeal to low- and middle-income consumers still needs to be tested.

- Report summary -

The new format targets the consumption of the community and targets the new source of the standard market. Box Macai City Mayflower Square Store is located in the inner ring area of Jing'an District. The surrounding community is densely populated and has convenient transportation. It also has a large underground parking lot. There is no similar large-scale commercial area and commercial supermarket within 1km, and the main competition from the offline is from the small and medium-sized vegetable market in various surrounding communities.

The new model takes into account both low-priced products and self-operated joint venture products with distinct levels. Different from the box horse standard store, it is estimated that the area of Macai City will be reduced to 2000-3000 square meters, and the layout will be more compact and optimized: the dining area of the traditional box horse standard store will be cancelled, the area of the high-priced aquatic product area will be cut, and the fruits and vegetables in bulk will be added. In areas such as non-staple food, bulk goods are not sold online. Most of the products in the box of Macai City are in the form of joint ventures, which increase the premium of the products through the box horse channel. At the same time, they also retain the self-operated box horses in some fresh food, packaging, drinking and daily necessities.

The new look brings a revamp of experience, and consumers are buying well. The staff of the box restaurant in Macai City are uniformed, but a large proportion of them come from affiliates. From the grassroots investigation, the proportion of middle-aged groups of consumers to the store is high, and the average customer price is more than 100 yuan, far exceeding the average vegetable market. The unit price level, which may be affected by the new opening, also reflects the strong consumption power of local residents. The repurchase rate among customers is high, and the brand effect and security guarantee are deeply rooted in the hearts of the people.

The sinking effect still needs to be verified, and the box horse takes the first step. From the price point of view, the price of fresh food in boxed horse food market is higher, and the bulk fresh food is more close to the people, slightly higher than the price of the surrounding vegetable market, which is obviously lower than the price of the community store and the former warehouse e-commerce. Box Macai City bulk food can not meet the needs of home, box horse matching in the box horse APP on-line cheap food channel, to the store after the warehouse for the pre-position delivery home, not for offline sales, pricing is relatively close to the people. The store has been in the store for more than three years. The main store model has not changed much, but the competitive environment of the industry has changed. The rapid development of the front warehouse e-commerce has brought some pressure to the box horse. Box Horse also hopes to expand the more popular consumer groups through Box Ma Market and Box Horse APP's cheap food market channels, and provide experience for further sinking to lower-tier cities. However, the current user mentality of Box Horse is still in a better position, and the subsequent sinking effect still needs to be verified.

- 1 -
Excellent geographical location and solid passenger flow

The first boxed horse food market in China, Shanghai Mayflower Plaza, opened on March 28, 2019. Box Horse Market is one of the emerging businesses of Box Horse. Compared with the box horse standard store, Box Horse Market is positioned in a more grounded business model, and the surrounding vegetable market and standard supermarket provide a new type of food market experience for online residents.

Box Macai City Mayflower Square Store is located on the B1 floor of Mayflower Square, No. 418, Minjiang West Road, Jing'an District, Shanghai. The original site is Lotte Mart Supermarket, which is close to the inner ring of the inner ring elevated inner ring, facing the local high net worth. Box Macai City is close to Zhongshan North Road Metro Station on Line 1, and the bus is located at Pushan Station (98 Road, 309 Road, and 966 Road). The traffic is convenient. The surrounding communities are rich in resources, including North American apartments, Zilanyuan, Lingguang Garden, Shangning Beach, Daning City and other districts, as well as Yangbo Middle School, Zhongshan North Road Primary School, Tongji University (Hubei Campus) and other campuses. . At the same time, May Flower Plaza is equipped with an underground parking lot to facilitate parking needs from customers in remote areas.

The main competitors within 1 km of the box of Macai City come from various community food markets and community fresh food stores. Large standard shopping malls such as Yonghui Supermarket and RT-Mart are all within 1 km.

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1. The internal layout is reasonable: the sparrow is small and complete.
The box horse food market is mainly similar to the box horse fresh life. Mayflower Plaza has a single entrance and exit layout, showing a horizontal "L" shape. The main passage is east-west distribution, and the internal layout is relatively more compact. The estimated area of the commodity area is about 2000-3000 square meters, which is slightly smaller than the box horse fresh.

After entering the entrance of the first floor from the first floor elevator, turn right and see the fruit-packed/bulk U-shaped counter, vegetable whole/bulk U-shaped counter in turn, the counter is the box horse self-operated goods, and the bulk counter is the joint commodity. There is a certain degree of overlap in the goods. In contrast, the price of the whole packaged goods is higher, and the corresponding products are also better. There are 9 deli shops on the south side, of which only one “box big bowl” is self-operated by the box horse. There is no independent processing area of the box horse standard shop, and it is replaced by the popular brand suitable for civilian consumption. After the vegetable area, it is mainly condiments, grains and dry goods, and the category is more close to the people.

In the second half of the supermarket, it is mainly aquatic products, meat, bulk goods, frozen foods, etc. On the south side, there are mainly meat and aquatic meat. There is a main pork and beef and mutton counter, a meat and poultry counter, and beef and mutton. It is a relatively high-end product, and the price is relatively cheap; in the aquatic area, there is an open counter similar to the vegetable market. The main price is more rivers and seafood, while the fish counter on the side of the wall is mainly for high-priced imports. seafood. In addition to fresh food, Boxage City also has a grocery sales area such as food and beverage, maternal and child and daily necessities, which is more abundant than traditional vegetable farms.

The settlement area at the exit is the same as the general box horse fresh life. There are 6 automatic payment machines. Customers can use the box horse APP to automatically realize payment. On the day of investigation, at least one service staff is provided next to each machine to provide guidance. Many old people The customer is also successfully completing the payment under the guidance. If you do not want to use the automatic payment machine, customers can also choose to pay at the manual collection counter. In addition, customers who shop in Box Macai City for 58 yuan can park for 1 hour free of charge, and purchase 158 yuan for free parking for 3 hours, which is convenient for self-driving users.

2. The joint mode is dominant, and there is a significant difference between the box and the freshman.
One of the more obvious differences between Box Macai City and Box Horse Fresh Life is that it uses a joint mode of operation, including vegetable stalls, fruit stalls, meat stalls, candy and non-staple food stalls, etc. The vendors pay booth rent to Box Horse. Fast-moving labels and some fresh-packed goods (generally with box horse logo) are self-operated. Most of the joint venture vendors entered the box horse system for the first time. The sources are wide, including Tmall Red Shop, RT-Mart, and Fresh Suppliers. The price of the box store is generally slightly higher than other channels, and the box channel is connected to the joint store. Bring a premium.

3. Newly opened consumers, the average customer price is more than 100 yuan
Employee level: The total number of staff in Boxage City is about 80-100, which is unified with the box horse logo clothing, but most of them are joint merchants, and there are fewer employees in Box Horse. Most vegetables, fruits, grain dry goods, bulk goods, counters are basically "one cabinet one person", and the vegetable bulk counter has two employees. The whole counter of meat and aquatic products is about 5-6 people, and there is a guide shop for each small cabinet next to the surrounding freezer. In addition, there are 15-20 online order purchasers and 5-10 replenishers. From the gender perspective, there are more female employees in the overall situation, mainly because the shopping guides are almost all women. The male employees are mainly in the butcher shop, aquatic products, and replenishment delivery. The overall male-female ratio is about 3:7; from the age point of view, the employees are generally between 30-50 years old, accounting for more than 80%, a small amount of younger The face is mainly the delivery staff.

At the consumer level: Perhaps due to the impact of the new opening, there are a large number of consumers in Box Horse Market, and even congestion. From the perspective of the age structure of consumers, the middle-aged group occupies a large proportion, especially after the 70s and 80s, and the proportion of the elderly is also large, but the proportion is lower than that of the vegetable market. We randomly selected more than 100 consumers to sample and found that the proportion of people aged 30-50 was 54%, showing that the middle-aged group is the main consumer.

Judging from the customer unit price, Box Horse Market is significantly higher than the general vegetable market and the general large-scale supermarket. We have calculated the unit price data for a period of time. The proportion of customers whose payment amount is above 100 yuan has reached 55%, and the payment amount Customers below 50 account for only 27%. And the overall average customer price reached 101 yuan, far higher than the customer price of 20-30 yuan in the vegetable market. The reasons for the higher unit price here are as follows: 1) Box Macai City is located near the ring of Jing'an District, and the surrounding residents have strong spending power; 2) Box Macai City is newly opened, consumers are keen and strong, tend to exceed Consumption; 3) Box Macai City itself retains a lot of high-end meat, aquatic products and other commodities, which have a significant effect on the unit price increase; 4) Box Macai City provides a full range of goods, consumer demand for a one-time comprehensive purchase Great increase.

We interviewed 8 consumers in detail. From the perspective of consumer perception, many customers have come to the Malaysian market with the purpose of early adopters. 5 people said that because the location of this store is good, close to their own residence, plus the recognition of the box horse brand, the quality of the box horse is more assured, so I am willing to come to the box of Macai City to purchase goods. Although Box Macai City opened soon, half of the 8 people have already made more than one purchase, and a certain repurchase has been formed.

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Pricing is popular, carrying a sinking dream

1. Price comparison, bulk food prices have advantages
Box Macai City has both self-contained and bulk goods. Among them, the whole package of fruits and vegetables, as well as aquatic products and meat, can be placed in the box horse APP, with the same price online and offline. Internal bulk vegetables are not available online and can only be purchased offline. Since Box Macai City benchmarks the community vegetable farm, we compare the boxed horse food market products (box horse APP price), bulk products, box horse APP cheap food market channel, surrounding vegetable market price, online grocery shopping, Yonghui The price of life. The results are as follows:

Judging from the comparison results, the bulk goods of Box Macai City are indeed more advantageous than the traditional bulk goods, and the positioning is more biased towards the lower middle end. Slightly higher than the surrounding vegetable market, it is more economical than the community fresh food such as grocery shopping, Yonghui life, etc., but bulk goods are not sold online, and the demand for home service is difficult to meet. In line with this, Box Horse launched a cheap food channel in APP, about 400 SKUs (located near the Mayflower Square in Mayflower Square), which accounted for a relatively high proportion of fresh food. The cheap food products were stored in the box store, not online. Sales, only for online services, from the price comparison of goods, and the price of bulk goods in Box Ma Cai City, significantly lower than the box of the main channel goods.

2. New business development, box horse's sinking dream
There are many different ways of combing the box and the box horse fresh food store. The overall positioning is lower than that of the box horse. The joint venture and the bulk are also matched with the relatively popular positioning. From the feedback of the users, the mass price system is indeed popular. + Box Horse's brand endorsement consumer recognition is higher. Box Horse is currently opening two boxes of horse food in Shanghai, and plans to continue to follow up in Beijing, Chengdu and other places.

Since the opening of the first Jinqiao store in early 2016, Box Ma Xiansheng has more than 150 stores, and the main format is relatively consistent. It is positioned as a boutique supermarket and enjoys the dividend of consumption upgrade. As the new leader of Ali retail, the box horse The year also tested some new formats, such as F2, robot restaurant, box horse market, etc., but at present it is not very mature. In the past three years, the competition situation of the whole industry has undergone some changes. The former warehouse e-commerce company represented by 叮咚 is more popular than the box horse. The same real-time distribution system meets the needs of users at home, and brings a certain set of horses to the box horse in Shanghai. The competitive pressure, therefore, the box horse is more important than the relatively popular market and demand. Recently, in this regard, the box horse movements frequently, from the box horse market and the box horse APP's cheap food channel, you can see the determination of the box horse sinking. From the public information, the future development goal of the box horse is to open To 1,000 stores and more, it is bound to sink to some lower-tier cities. At present, the positioning of the box horse fresh industry is relatively high, and it is difficult to sink. Therefore, it is necessary to innovate and inquire about a more feasible sinking format. From Box Macai City and Box Maping Market Channel, we can see some future directions.