On the evening of October 29, BESTORE disclosed 2024 third quarter report. During the reporting period, the company continued to focus on brand upgrading, product innovation, supply chain efficiency, and continued to optimize the quality of operations, and the effect of phased adjustments gradually appeared.

  In the first three quarters, the company achieved revenue of 5.480 billion yuan, net profit of 19.3903 million yuan; in the third quarter, the company achieved revenue of 1.593 billion yuan, net profit of -4.5202 million yuan, loss narrowed significantly by 88.34% compared with the ring, the gross profit margin of 27.75%, the year-on-year performance has stabilized, the year-on-year performance has stabilized, presenting the good momentum of stabilization and recovery.

  Under the influence of serious homogenization and other factors, the snack food industry is under great pressure. The Company insists on taking the road of brand differentiation. This year, with the upgrading of the new brand proposition of “Natural and Healthy New Snacks”, BESTORE has launched a “subtraction” upgrading strategy for the whole category of products by streamlining the product line, superimposing IP marketing methods to create multiple big single products that win both reputation and sales. By streamlining the product line and superimposing IP marketing methods, BESTORE Shop has created a number of big single products that win both word-of-mouth and sales volume, injecting strong momentum into the company's performance.

  Reducing price and improving quality to promote healthy product upgrading

  In the face of fierce low-priced competition, BESTORE has implemented a two-handed strategy since last year: price reduction and quality improvement to actively respond to market changes.

  On the one hand, since November last year, BESTORE has reduced the prices of more than 500 products through cost reduction and efficiency improvement in the supply chain, and set up “Good Good Goods, Not Expensive” zones in the stores to provide users with high quality snacks at low prices without lowering the quality.

  To September ten million big single product thumb air-dried beef, for example, through the supply chain to reduce costs and improve efficiency, 50g thumb air-dried store member price of only 12.9 yuan, 20% lower than the market price of products of the same specifications, become a small red book on the fitness professionals new popular single product. Data show that since the implementation of the price reduction strategy at the end of last year, BESTORE has steadily increased the number of customer orders and basket rate, and the sales of many single products have increased significantly.

  On the other hand, BESTORE has upgraded its new brand proposition, “Natural and Healthy New Snacks”, to meet consumers' demand for health and nutrition. The company's research and development focuses on natural and healthy ingredients and the reduction of additives in the production process, so as to make the formula of snacks more concise. The company has set a clear goal of removing all non-essential additives from snacks through technological innovation in three years.

  For example, on the recent hot topic of “sodium dehydroacetate” which will soon be banned in bread, pastries and other food products, BESTORE started to upgrade its bread and pastries as early as April this year, and has already launched clean-labeled products such as Buttermilk Tender Toast and Edgeless Tender Toast, and innovatively utilized meat biopreservative technology in its baking process, with zero preservative added, a short warranty of 60 days, and a fluffy texture, which has attracted many consumers' attention. The innovative use of meat preservation technology in baking, 0 added preservatives, 60-day short shelf life, and fluffy texture have made many consumers grass on the product, and it has been ranked as the TOP1 in the sales of new toast products in stores since its launch.

  Up to now, BESTORE has successively launched 347 “five-reduced” healthy snacks, covering candied fruits and preserved fruits, meat, cookies and pastries, nuts and fried foods, etc., and the sales of upgraded healthy snacks in the first three quarters amounted to 283 million yuan.

  Focusing on User Demand Innovation and Incubation of Ten Million Single Products

  With the upgrading of the new brand proposition, BESTORE has launched a comprehensive product upgrade and iteration, and successfully incubated a number of representative large single products by streamlining the product line, improving the product quality, and superimposing IP marketing methods.

  Among them, crispy pancakes (seaweed flavor), California prunes, buttermilk protein bars, air-dried beef, Northeast red pine and other single products have become monthly sales of ten million large single products by virtue of their high quality and “healthy” labels, further enhancing the brand's influence and market competitiveness.

  At the same time, in product development, we closely follow the seasonal points, select the most suitable seasonal ingredients to create explosive products, and use high-quality products to convey brand value to consumers. For example, during the nut season, BESTORE released a number of newly upgraded nut products based on the new standard of “five reductions”, selecting good raw materials of origin and adhering to natural health and 0 additives.

  As one of the star products, Changbaishan Red Pine Series, sales exceeded 15 million yuan within 24 days of its launch. The first launch of Changbaishan roasted pine nuts, a breakthrough in the traditional deep-frying process, the innovative use of water polishing method of molting and low-temperature baking process, product taste and quality significantly improved. This ingredient list only pine nuts, 0 added coloring, 0 added sweeteners, wild collection of S + grade red pine as raw materials, once the new will become the store nuts category sales TOP2 single product.

  With these high quality and healthy snacks, BESTORE is winning back and retaining more consumers. Data shows that the repurchase rate of BESTORE's multi-million-dollar products, such as buttermilk protein bars and air-dried beef, continues to be high, gaining consumers' recognition and trust.