Can the marriage of "Coke and milk" further bind the young consumer market?
Enterprise Observation
The low-temperature milk market is a typical blue ocean industry, and the "good start" aims at the growth dividend behind it. Product and marketing innovation capabilities are the key.
On November 2nd, the two major Chinese and foreign fast-moving giants Coca-Cola and Mengniu jointly funded the establishment of "Keniule Dairy Products Co., Ltd.", whose business scope is the production, sales and marketing of low-temperature milk products.
The marriage of "Coke" and "Milk", is it milk with a taste of Coke?
"Awesome" brings a lot of imagination to the industry and consumers.
Data shows that pasteurized low-temperature milk in many countries around the world account for a large proportion of the market share, such as Canada accounted for 99%, the United Kingdom accounted for 99.5%, the United States accounted for 99.7%, Japan accounted for 99.3%, and the current market for pasteurized low-temperature milk in my country The share is only 14%.
In 2019, the scale of China's dairy product consumption market reached 419.63 billion yuan, with a compound annual growth rate of 8.6% from 2010 to 2019.
The above data shows that the low-temperature milk market is a typical blue ocean industry, and it is no wonder that Coca-Cola and Mengniu will jointly target the growth dividend behind it.
The mainstream consumer group of Coca-Cola is young people, and this part of the group tends to have relatively strong purchasing power and the courage to try new things.
At the same time, domestic milk is still in the stage of brand rebuilding since the melamine incident. If it can ride on the Coca-Cola World brand effect, it will be more conducive to gaining support from young consumer groups.
Of course, the bright future of "beautiful" also depends on several key points.
On the one hand, both domestic and foreign young consumer groups have the characteristics of pursuing novelty and fashion, and at the same time focusing on quality. This requires that the "coarse" must fully integrate Mengniu’s industrial production system and milk source foundation to create high-quality products. Low temperature milk.
On the other hand, it is necessary to make good use of Coca-Cola’s in-depth research capabilities on the changes and trends of young consumers’ consumption habits in the global market, so that “Ke Niu Le” low-temperature milk can launch a variety of flavors and packaging based on young consumers’ tastes and interests. The new taste combinations from the "appearance" of the packaging to the "cross-border" trial require increased investment.
It can be seen that in recent years, more and more food brands in the market have launched various "heavy taste" snacks in order to "get eyeballs".
Such as mustard-flavored yogurt, salted egg yolk ice cream, chili-flavored ice cream, etc., this action in the opposite direction has increased the spread of many brands by a big step, which is impressive, but I believe that it will survive in the end. What comes down is by no means a momentary fresh packaging or taste stimulation, a gimmick is a gimmick after all, and it must be a high-quality, reliable product that allows consumers to finally pay.
In addition, "Ke Niu Le" is endorsed by the two major brands of Coca-Cola and Mengniu, and has a certain advantage in the low-temperature milk offline retail market.
However, as domestic online consumption has become mainstream in recent years, especially young people have strong online shopping habits.
Therefore, online will often become the main channel for new brand building, marketing and reaching young consumers.
In the future, it may cooperate with major e-commerce platforms to connect online and offline, so as to establish a multi-level marketing network and create innovations based on the entire industrial chain of low-temperature milk manufacturing, circulation, and sales, and user closed-loop service experience platform.
□ Yuanshan (financial commentator)