Whether this short film was an effective cure to the post-Single's Day blues is unclear, but it certainly pulled on the heartstrings of China's most important consumer group. This heart-warming short film depicts the "golden hours" of the lives of China's Gen Z. To combat this, Three Squirrels launched a film called "Little Peakedness"(小巅峰) to coincide with the hangover period and hopefully reinvigorate consumption. Combating the Post Single's Day HangoverĮvery year after Single's Day, there has been a predictable drop off in consumption, a phenomenon we can presumably attribute to a sort of post-Single's Day hangover. Its food sales ranked first on Tmall, JD, Kaola, and other social e-commerce platforms. 18 million dollars), translating to a year-on-year growth of 226%. Additionally, its sales through offline channels exceeded 126 million yuan (approx. $132 million), breaking the Single's day sales record in China's food industry. ![]() Its sales through online channels exceeded 923 million RMB (approx. $150 million), translating to a year-on-year increase of 53.81% (its sales during Single's Day 2018 were 682 million yuan). 11, 2019, the omnichannel sales volume of Three Squirrels reached 1.05 billion RMB (approx. Three Squirrels is just one of 14 companies that managed to exceed a gross sales value exceeding one billion yuan during Single's Day, 2019. By Single's Day 2019, the company's share price had reached a staggering 63.33RMB, which is 331.4% higher than its IPO. On Aug 13, Three Squirrels closed at 42.41RMB/share. In August of the same year, the company invested 10 million yuan to commission an animation company to produce and release a cartoon series of Three Squirrels, named "Squirrel Town." The goal of the marketing strategy of Three Squirrels was to establish a positive, healthy, and happy brand image. Its shares were A-rated, and its IPO was 14.68 yuan a share. On July 12, 2019, Three Squirrels successfully listed on the Hong Kong stock exchange. Three squirrels scaled its business up exceptionally quickly and received initial injections of capital from firms such as IDG ($1.5 million), Capital Today ($6 million), and Frees Fund (300 million RMB). Blitzscaling in China's Snack Food Industry 1.2 million dollars) during the twenty-four hours. On Single's Day 2012, Three Squirrels sold the most nuts of all snack food retailers on Tmall, translating to sales of nearly 8 million RMB (approx. This strategy saw it secure the number one spot for snacks sales during Single's Day 2012, just several months after the company was launched. Its early adoption of an omnichannel digital retail and marketing paid dividends during the incipient stages of the company's launch. ![]() Its main business is nuts, dried meat, dried fruit, puffed snacks, and other categories of snack foods. At present, it is the largest e-commerce orientated food enterprise in China. It was the first domestic snack food enterprise to prioritize a " digital-first" strategy. ![]() Three Squirrels: Riding Crest of Health Wave and China's Digital Economy The film is just one of the many innovative marketing strategies the company has used to catapult itself to the forefront of China's snack industry. The most recent short film was titled "Little Peakedness," and depicted the "golden hours" of the lives of young Chinese. Three Squirrels have three major pillars to its business strategy, which are: "digital-first" retail and marketing strategy, creation of IP, and harnessing holiday seasons to drive seasonal spikes in sales.Īs part of its marketing campaigns, Three Squirrels releases both animated short movies (primarily for children) and short films (for adolescents and young adults). 331.4% higher than its IPO just several short months before. By the time Alibaba's Single's Day 2019 rolled around, the share price of Three Squirrels (a significant player in China's snack food sector) had reached 63.33RMB.
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