Inijuan is a word that has been popular on the Internet for more than a year. Why does it roll? They are all "forced", and they are all crazy "involutions" caused by "free market competition". Taking the traditional green industry sheet as an example, the competition between various brands has never stopped. In recent years, it has been particularly fierce. From products to brands to channels, expansion and aggression are pervading the market without gunpowder. In order to seize more of the market and consumers, in recent years, it is not difficult to see that almost all well-known board brands are actively updating their products, from materials to colors, everything; and various concepts Sheets are also emerging in endlessly, from environmentally friendly sheets to novel non-formaldehyde sheets, antibacterial sheets, skin-friendly sheets, etc., which really opened our eyes. Under the impact of the torrent of time, some of these brands soared into the sky, some followed by silence. Those who survived this era are the ones who are most able to adapt to changes. In this regard, today, the editor chose the industry’s three giants in the industry: Bunny, Moganshan, and Qianzhou Zhou as the research objects, starting from the three aspects of product operation, brand operation and channel operation, comparing their development models, and exploring their respective Advantage.
Tubao, Moganshan, and Millennium Boat are all multi-product full-chain operations.
From the perspective of product structure, these three are similar. The product structure of Bunny is divided into two major business divisions: decorative materials and finished home furnishings. Decorative materials include panels, adhesives, veneers, top floor auxiliary materials, hardware, etc., and finished home furnishings include wooden doors, floors, and whole house customization, and have independent operations. Brand-Bunny Easy Pack; Moganshan takes "man-made panels, wood flooring, technical wood, and wardrobes (customized for the whole house)" as its core main business; Millennium Boat is committed to the two cores of basic building materials and whole house customization. The business segment includes five series and fourteen major board categories, hardware accessories and flooring, wardrobes, wooden doors, etc.
It can be said that the product line of the three products ranges from panel to whole house customization, which basically covers the upstream and downstream. In recent years, the ratio of whole house customization to corporate revenue is rising; but after comparison, each has its own advantages. Domain, unique brand. For example, the comprehensiveness of Bunny’s products is better than that of the other two. Millennium Boat and Moganshan respectively have characteristic boards, Auspon LSB and Technological Wood. In the important market of whole-house customization, Moganshan established Zhejiang Yunfeng Moganshan Household Products Co., Ltd. in 2014 and took the lead. The acuity and importance of the three are comparable. Thousand-year boat independent green and healthy home——Boffei Lun; and although Baby Bunny does not have a special brand name, it has also launched a "easy dress" brand, and both have certain advantages in market recognition and harvesting.
As early as the establishment of the three companies, they knew the importance of technology and innovation, and they all introduced their own industry-first board concepts: Tubao pioneered the production of veneer panels in the province in 1993, and Qianzhou Zhou pioneered the industry’s first fir core fine in 1999. Woodworking board, mixed wood core multi-layer board, Moganshan launched the first environmentally friendly micro veneer decorative plywood (China's first environmentally friendly board) in 2000; soon after entering the new century, they established their own research institutes. , To improve the added value of product innovation.
At several important market demand nodes, the three carriages closely follow the trend of the times and set an example in the industry. In the environmental protection trend that has become popular in the past few years, the three companies have successively introduced concepts such as "antibacterial" and "aldehyde-free"; around 14-17, they have set foot in the whole house customization industry, etc., and their efforts for transformation are obvious to all. In addition, these three companies are also very courageous in product update iterations, always keeping up with the trend of the times and developing products that are more satisfying to consumers.
In terms of brand positioning, these three companies are all mid-to-high-end, and they all have their own highlights and understanding in brand extension. Tubao mainly takes the board business as the core, takes the big home business as the direction, integrates ecological resources around the requirements of green, health, environmental protection, and people-oriented, and provides consumers with comprehensive home decoration services; Moganshan wants to build the best technology The goal of leading green home furnishing companies is still to become a multi-category product provider; Millennium Zhou focuses on the concept of “green and healthy home”, and links green supply, green design, green smart manufacturing, green products, green products around “home” The six dimensions of service and green charity lead the industry in advocating a green and healthy lifestyle.
In terms of brand promotion, the editor personally thinks that Baby Bunny is even better.
As the industry leader, Bunny is the most mature of the three brands in terms of private domain traffic and young traffic. Up to now, Baby Bunny has formed a complete new operation model of "offline stores + online private domain + new media matrix combination", combining mainstream media, portal websites, anti-aircraft artillery, urban building lighting show advertising and other traditional methods. Even the most trendy new media such as live broadcast, Douyin, and Xiaohongshu have played well.
Take this year’s Bunny Mid-Autumn Moon-seeking project as an example. From the early elevator advertisements to the creation of offline IP, to the addition of Xiaohongshu celebrities and the blessing of live broadcast, Bunny has perfectly integrated a series of tools. , Attracting the attention of many young people online and offline, and let the brand IP of "Bunny Baby" really land among consumers.
Both Moganshan and Millennium Zhou belong to Zhejiang brands. As cities that have grown up in the Internet industry, they have the same acumen in brand promotion and operations. They have explored new marketing such as online live broadcast, online investment promotion, and multi-brand alliances. Form, but its market popularity is still slightly inferior to Bunny. However, it is worth mentioning that in the near future, Moganshan submitted materials to prepare for listing, and related performance data was disclosed. This performance should be relatively hard-core and relatively sensational recently.
In fact, looking at the development history of the three major brands, it is not difficult to find that all three have made quite a few attempts and adjustments.
From the establishment of corporate competitiveness to the establishment of an ecosystem, Tubao has achieved a comprehensive upgrade from a service provider to a platform operator. In 2017, Bao Baobao has officially opened the health decoration material museum + home living museum model. Since then, through a series of acquisitions and investments, it has opened up the upstream and downstream and freed the company from the dilemma of a single category (board). In 2020, Tubao even invested 42 million yuan to enter the field of smart home, and its forward-looking layout is leading the industry.
From its establishment in 1995 to the present, Moganshan Plate has on the one hand made use of the innate advantages of the place name Moganshan, and on the other hand insisted on producing high-quality products to create a good reputation. In recent years, Moganshan has insisted on building brand IP based on word of mouth, continuously empowering the front-end sales system through the system's multi-scenario digital application, and exerting the spirit of Chinese craftsmanship to the extreme. Its performance is also remarkable.
On the other hand, the Millennium Boat emphasizes the health performance of the product, from "Naturally nurturing the Millennium Boat" to "Millennium Boat, giving you a green and healthy home", and then to "Do a good cabinet, use a good board, just use the Millennium Boat" ", Millennium Boat's brand slogan has completed three iterations. From the use of green materials to the research and development of hard-core technology, the production line of Millennium Boat is gradually expanding.
Channel operating model
On online and offline channels, the three have their own emphasis.
Bunny’s online channels are concentrated on Tmall, Taobao, and JD.com. It has increased sales through marketing models such as live broadcast and delivery. In the past few years, it has achieved sales exceeding 100 million yuan, and this year achieved sales exceeding 200 million yuan. ; During the most severely affected period of 2019-2020, the growth of Bunny’s online sales has slowed, from 145 million to 150 million, but in the critical period of 2020-2021, it will increase from 150 million to 230 million, and live broadcast is important , Whole house customization and other channel publicity methods have achieved results.
Offline channels are roughly divided into physical stores (chain stores), distributors, engineering channels, strategic cooperation and other channels.
In terms of the number of physical stores (chain stores), according to the official website, annual report, and other data, Tubao and Moganshan have successively achieved the achievement of 3,000 stores, and the classification is clear. Bunny’s internal staff even put forward the vision and ambition of continuing to increase the customization and easy-to-wear specialty stores of the whole house. And Millennium Boat is not as good as its friends in the layout of physical stores; the three are based in Zhejiang, mainly radiating to surrounding eastern China, and the market spreads across the country. Obviously, although it is severely affected by the epidemic, offline specialty store channels are still one of the main sales channels for panel merchants.
Bunny, Millennium Boat, and Moganshan pay attention to the support and training of distributors. It is worth noting that Tubao once proposed that the company's development strategy should be transformed from a dealer model to a chain store model. Both have their pros and cons, but there is no doubt that during the transformation process, Tubao’s franchise system and marketing standards have become more complete.
The engineering channel (bulk business) has always been valued and favored by panel manufacturers and home furnishing companies. The three are also actively undertaking businesses, real estate, government, and other businesses. For example, Moganshan has reached strategic cooperation with well-known companies such as Greentown Group, Vanke, Asia Xia, China Construction Eighth Engineering Bureau, Zhongtian Construction, and Shanghai Construction Engineering Group. . However, under the current real estate recession, the thunderstorms of many real estate companies such as Evergrande, and the state's control of housing prices, the expansion of enterprises' engineering channels has slowed down.
Corporate strategic cooperation and strategic investment actions are often based on a variety of considerations such as expansion and transformation. In the early days for innovation, the three companies each cooperated with multiple universities and research institutes; this year, in order to comply with the trend of environmental protection, whole-house customization, and self-assembly, the three companies are also rushing to catch up. In addition to setting up specialized companies and launching its own brands to deal with them, measures such as investment and strategic cooperation have also been adopted. The three are all panel vendors in the traditional sense. Since 2014-16, the net profit of the three has been on a downward trend, and the whole-house customization accounted for their respective revenues and fluctuated around 10%. Moganshan cooperated with a number of decoration companies in 2019 and 2021, Qinzhou Zhou cooperated with Shengdu in 2018 and joined hands with Blue City Decoration in 2020. In order to transform, Tubao acquired Nature Home Furnishing in the first half of 2018 and Qingdao Yufeng Hantang Wood Co., Ltd. in 2019. After undergoing a difficult transformation, their whole-house customization revenue has risen, and the baby rabbit will achieve a revenue of 1.989 billion yuan for the full year of the finished home furnishing business in 2020 when it is less than 10% before 2020, which is a year-on-year increase. An increase of 327.86%.