Click the blue text under the heading to focus on the first new media for catering
No. 1298
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Price increase is the most direct way to increase the customer unit price, but no one dares to increase it. It's stubborn. But if consumers don’t perceive the price increase clearly, and they unknowingly pay more to the merchant, is this the most ideal strategy?
Haidilao Zhengzhou store does this, and the menu price increases almost across the board. , The most expensive one has increased by 16 yuan, but consumers did not think it was expensive when they checked out. What is the secret behind
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■ Food and Beverage Owner's Internal Reference｜ Wang Yanyan fa Since Zhengzhou
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Haidilao menu has increased in price
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Recently, the friend of the internal reference master went to Haidilao Zhengzhou Jingsan store and found that the price of the bottom of the pot has increased, and the single pot of the signature butter pot actually costs more than 100 yuan. The most commonly eaten butter pot with mandarin duck pot is nearly 100 yuan, and many dishes have also increased in price. But overall, the money spent seemed to be the same as before. He didn't feel that eating Haidilao became expensive, which made him feel a little surprised. The price of
has really risen, but can't you feel it expensive? Mr.
carefully compared the menu of Zhengzhou Haidilao in June 2016 with the current menu:
also found that Haidilao removed the beef soup and hot pot bottoms from the taste, and the original authentic The Sichuan flavor is changed to butter and spicy. Compared with
, it is indeed a price increase across the board (except for drinks without comparison). From the bottom of the pot to the snacks, even the optional snacks and drinks, the fixed fee charged by each person has also increased.
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Why is it not obvious when checking out?
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From the above point of view, the price increase of the Haidilao Zhengzhou menu is not small. Moreover, according to the internal reference, as early as the 2017 Spring Festival, the prices of individual dishes on the Haidilao menu had increased. The overall price increase started in February, first in 1 store, and a month later other stores in Zhengzhou will follow up.
In other words, since at least April, all stores in Zhengzhou Haidilao have increased their prices. But in the past two months, few people have reported this incident. Jun Jun interviewed 10 friends at random. They have all eaten Haidilao recently and asked them if they feel that Haidilao has become more expensive, but none of them have a clear feeling. Before the price increase, Haidilao’s unit price in Zhengzhou was basically 70-90 yuan. After the price increase, it was basically in such a range. And most people's feeling of eating Haidilao is that it is affordable, and the more people there are, the more cost-effective it is. Why has the price of
increased, and consumers' feelings are not obvious?
studied the price-increasing menu carefully, and Mr. Neishan found that there was a mystery in it. The main reason why customers feel is not obvious. The main reason is that the two factors of PI value and price elasticity coefficient are invisible.
A The higher the PI value of the product, the more sensitive customers are to the price.
Here is a concept-PI value, also called the purchase rate per thousand people, is the abbreviation of the purchase index, which can also be called the purchase index of the product, the popularity of the product or It is the commodity gathering index. That is to measure the degree to which the product is paid attention to by customers.
It is different from the concept of merchandise sales. The merchandise sales volume can only reflect the sales volume of the merchandise in a certain period of time, but it cannot reflect the "how many customers buy" the merchandise.
PI value calculation method
PI value = product sales data in the shopping basket per unit time / unit time all shopping basket quantity * 1000 (a shopping basket in the catering industry is equivalent to an order)
PI value has a very close relationship with price sensitivity Closely, commodities with high PI are price-sensitive commodities. The high value of PI indicates that the product has a high degree of attention from customers and the frequency of purchase is also high. This type of product will form a fixed price range in the mind of customers, and a slight change in the price of the product will attract customers' attention. Just like many people spend a few tens of dollars more on large itemsI don't care, but I care about the peddler because of the penny when buying vegetables. The PI value of
products is often inversely related to the pricing and gross profit rate of the product. In other words, the higher the PI value of , the lower the price and the lower the gross profit rate of the product; on the contrary, the lower the PI value, the higher the price. , Gross profit is also high.
In Haidilao, because it is an electronic menu, it is easy to grasp the PI value of each dish. The dishes with high PI value include: Lao pie tofu, thornless pangasius, Australian beef (wagyu), signature shrimp slip, and pie Huanghou and Laopai Lao Noodles are sensitive products with a high purchase rate and low gross profit. Either they did not increase in price, or only increased by 2 yuan, the smallest increase.
and the bottom of the pot with the highest PI value are mushroom soup, green pepper, and spicy oil. The prices of these single pots have not changed. There are also optional snacks and beverages, each of which has increased by 1 yuan, and it is not obvious at the checkout.
Conversely, low-sensitive products with lower PI values have increased their prices by a larger margin, such as pig brain flower, which rose by 12 yuan; duck feet, duck tongue, and black-bone chicken rolls rose by 6-8 yuan.
B The lower the price elasticity coefficient is, the less it will affect the customer's purchase rate
"price elasticity coefficient", which is an economic term, also called "demand price elasticity". It is the degree of increase or decrease in sales caused by price changes. Different commodities have different responses to price changes in demand.
Some commodities have large changes in price, but small changes in demand; some commodities have small changes in price but large changes in demand. Elasticity theory is precisely to explain the relationship between the rate of change in price and the rate of change in demand.
price elasticity coefficient = the ratio of the change in the quantity of demand / the ratio of the price change. If the price elasticity coefficient of
is far less than 1, the price increase or decrease will not affect the customer's consumption too much. For example, if the price of salt rises, we will save money to buy enough salt even if we eat less oil. On the contrary, how to reduce the price of salt, I am afraid that no one will try to double the amount of salt per meal. . Compared with another situation of
, customers increase and decrease rapidly with price changes. This is what the price elasticity coefficient is much greater than 1, such as luxury consumer goods, or life-necessary products that have alternative products on the market. Once they encounter a price war, their turnover will immediately plunge.
In Haidilao, vegetables and soy products, such as lettuce, chrysanthemum, wax gourd, thousand sheets, tofu, yuba, etc., are all dishes with small elastic coefficients. Although the contribution rate is low, but the demand is large, it is a necessary product for meals, and the PI value is not high, so the price can be increased significantly. These two types of dishes generally cost 4 yuan each. Moreover, the previously more cost-effective mushroom platter and vegetable platter have been cancelled.
Haidilao’s shrimp slippery dish is also a dish with a small elasticity coefficient. Because of its quality and taste, other people’s products have almost no comparable products, so the price can rise, but because it is a dish with a higher PI value, too many customers will increase it. It will be very sensitive, so it only increased by 2 yuan per serving.
In Haidilao, the price elasticity coefficient is relatively large, such as the signature Lao Pai secret mutton, Lao Pai spicy beef, and Lao Pai crispy belly. These dishes should have little or no price increase, but in fact , These kinds of rises are not small, they have risen by 16 yuan, 10 yuan, and 6 yuan respectively. The main reason for
is that, first of all, the PI value of these dishes is not the highest, and the customer's sensitivity to prices is okay; secondly, it is understood that the contribution of the signature Shi Lao to the turnover is 60%, and the price increase is to increase Profits, therefore, do not increase who they increase. In theory, there is still a little risk in the price increase of Shi Lao Zhong beef and mutton.
It can be seen that high-sensitivity products are undoubtedly a key point in formulating price strategies. How to ensure sales and create a price image; general-sensitive products implement high-low price strategies to maintain competitiveness. Guarantee the company's gross profit; low-sensitive products adopts a market-following strategy to maintain a high level of profitability and can implement a high-margin price policy.
look at the pricing strategy in the figure below, you will use it:
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｜Summary｜
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Maybe Haidilao didn’t do any advanced research before the price increase, but after reading the above analysis, you will find that, There are economic laws to follow behind making customers pay more without knowing it.
In addition to using the "PI value" (the popularity of the product) and the "price elasticity coefficient" (the degree of rigid demand of the product) to increase prices, the internal reference thinks that customers do not have obvious feelings about the price increase. Important factors:
one is the brand effect of Haidilao. People should think that good service and good quality are worth a higher price;
Another thing is that all Haidilao dishes can be ordered by half. Even if it’s expensive to read one serving alone, you can have half a serving. It’s not expensive to look at half a serving. Under such a mentality, it will be a little bit more unknowingly, and to a certain extent it will increase the unit price per customer. The feeling is great value.
Finally, I have to say that the benefits of Haidilao's use of electronic menus, in addition to convenient statistics, more effective management of dishes, and a better experience for customers.
is like what Ms. Hu, a senior enthusiast of Haidilao, said: Haidilao can automatically generate "My Menu" according to the frequency of ordering by members, and push it with one click; consumption points can also be used for money or exchange gifts; every time you log in to a member, It will clearly show the number of consumption, "see how many times have come, but also a sense of accomplishment" .
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