Running into the Metaverse, can Wanglaoji see a different future?

Can “Metaverse Marketing” Work?

The past year has been called the first year of the Metaverse by the outside world.

As the hottest topic in recent months, the Metaverse seems to contain traffic codes. As long as it is related to the Metaverse, it will quickly become the focus of public attention.

Recently, Wanglaoji released a new ten-year strategy at the 10th anniversary innovation and development conference. At the meeting, the launching ceremony of Wanglaoji’s Metaverse “Ji Space” was held. Wanglaoji said that the application of Metaverse-related technologies will enhance the experience of consumption scenarios and build the company into Become a benchmark for digital enterprises in the FMCG industry.

Running into the Metaverse, can Wanglaoji see a different future?

The Metaverse is like a basket, you can put anything in it. In the wave of the Metaverse, Wanglaoji is just a microcosm. At present, the Metaverse Track is full of giants. In addition to the overweight of Internet giants such as Tencent, ByteDance, and Baidu, fast-moving consumer brands such as Michelle Bingcheng, Nai Xue’s Tea, and McDonald’s have also made efforts one after another. In the era when everything is possible in the Metaverse, what kind of sparks can Wanglaoji and the Metaverse collide?

Wanglaoji’s “Auspicious Space” Exploration

As the recognized “ancestor of herbal tea”, Wanglaoji herbal tea was born in Guangzhou and has a history of nearly 200 years. In 2000, Jiaduobao Group used a well-known advertising slogan “Afraid of getting angry, drink Wanglaoji.”

The operation of Wanglaoji brand has always been remarkable, whether it is to improve the brand awareness or to promote the rejuvenation of the brand. Wanglaoji has titled a number of TV programs for young people, and invited the new generation of actors to be spokespersons. Wanglaoji Health also plans to build 56 herbal tea museums around the world. The completed Wanglaoji herbal tea museum has received more than 10 million tourists worldwide.

With the rapid development of the Internet and the personalized needs of young consumer groups, how to expand Wanglaoji’s brand influence and truly integrate the brand concept into young consumers in an era of rapidly changing technology has become Wanglaoji’s current difficulties and challenges.

In this regard, Wanglaoji has been actively “electric shock” new things, such as titled e-sports events, Huya live broadcast, multi-level cooperation with popular online games and so on.

Running into the Metaverse, can Wanglaoji see a different future?

The explosion of the Metaverse has attracted Wang Laoji’s attention. On January 30, 2022, Wanglaoji and Ali launched the first digital art work “Baijiahe” and held an online public auction.

The digital collection is Wanglaoji’s first entrance to the parallel between virtual and real time and space. With the application for registration of the “Wanglaoji Metaverse” trademark, Wanglaoji’s determination to use the universeless “borderless” to spread the Kyrgyz culture and reach the new generation is also more obvious.

In order to better lay out the Metaverse, as early as 2014, Wanglaoji established the “Chaoji+” platform to build a big data center for herbal tea with users as the center, and explore the digital upgrade of the herbal tea industry.

To put it simply, in the world of the Metaverse, what Wanglaoji wants to sell is not herbal tea, but the auspicious culture that he has been vigorously building to meet the needs of users in various circles and to connect online, offline, and even virtual The world’s “Metaverse” brings users a full range of auspicious blessings and a new experience that transcends time and space.

As a traditional herbal tea company, Wanglaoji wants to enter the Metaverse. We can see that behind this, it is precisely the ambition that traditional functional beverage companies are trying to break the wall.

How do traditional beverage brands crack the “old but not new”?

With the acceleration of urbanization, on the one hand, commissaries are gradually being replaced by large supermarkets. Beverage brands in the beverage area are dazzling, and the market competition for bottled beverages is greatly strengthened. In the streets and alleys of the city, it has become the darling of young people; the expansion of coffee shops such as Starbucks provides a place to socialize. Competitors of different products of the same kind are also rapidly eroding the market share of the traditional beverage industry.

The beverage market is becoming more and more saturated, the new promotion cycle is shortened and the speed is fast, and the homogeneity and easy replication of category products have become the norm of development.

In the emerging trend of new categories, traditional functional beverages have long since withdrawn from the list of consumers’ first choice, the market popularity has plummeted, and the industry has entered a period of slow development.

Under the attack of emerging beverages and their own disadvantages, traditional beverage companies need to make breakthroughs, and “Metaverse” just gives a good opportunity to enter.

Running into the Metaverse, can Wanglaoji see a different future?

The first to enter the Metaverse are the luxury brands Bruberry and Balenciaga, who have jointly launched a limited number of NFT characters and costumes that can be purchased in collaboration with game companies. The concept of the Metaverse is hot, and the food and beverage companies that seem to be “unrelated” to the Metaverse have also entered the Metaverse.

·  On December 7, 2021, Nayuki’s tea official brand ambassador “NAYUKI”, founded for 6 years, will launch 300 NFT digital artworks around the IP online;

·  On November 28, 2021, Michelle Bingcheng registered four Metaverse theme trademarks in one go;

·  In November 2021, Coatue, an investor in Heytea and Manner Coffee, invested US$300 million in Niantic, the developer of “Pokémon GO”, and prepared to gamble on the Metaverse with desperate determination;

·  In October 2021, McDonald’s China released the first NFT work “Big Mac Rubik’s Cube” and distributed 188 NFT works to employees and consumers.

Empowering new marketing methods and virtual NFT digital collections with the concept of the Metaverse seems to have become a new “nugget stepping stone” for food and beverage brands.

Although the consumption patterns and consumption demands of Generation Z are ever-changing, the consensus is that they are willing to pay for “lifestyle”, “experience” and “spiritual consumption”. Play and NFTs create unique experiences for consumers.

In addition, for traditional beverage brands like Wanglaoji, with the help of “Metaverse” Dongfeng, a set of digital marketing combination punches may be able to provide them with a younger transformation path.

Can “Metaverse Marketing” Work?

In recent years, with the rapid development of new-style tea in China, the competitive environment faced by Wanglaoji Great Health has undergone subtle changes.

According to the data of the Prospective Industry Research Institute, the growth rate of the herbal tea market from 2012 to 2017 was 16.7%, 15.9%, 15.1%, 15%, 9.7% and 9.1%, respectively, and the market growth gradually became weak. In addition, the “2020 Plant Protein Beverage Innovation Trends” released by Tmall’s New Product Innovation Center shows that in 2020, among all beverage categories, the sales growth rate and sales growth rate of herbal tea are almost at the bottom.

Xu Wenliu said at the Innovation and Development Conference that in the past ten years, the domestic beverage industry has matured and the growth has been sluggish. Among them, the market share of the herbal tea category has declined for many consecutive years, and facing the crisis of insufficient category vitality, the herbal tea category “is afraid of getting angry.” “The functional attributes of the beverage are far from reaching the market capacity of more popular functional beverages.

The golden age of herbal tea has passed, and Wanglaoji has made innovations in products and marketing in recent years.

In terms of products, at the end of 2018, after officially belonging to Baiyunshan, Wanglaoji overthrew the traditional red can and green box packaging for the first time and launched a new bubble bursting iced herbal tea.

Wang Laoji, who has tasted the sweetness of marketing, knows the dividends brought by traffic. In terms of marketing, Wanglaoji has successively co-branded games such as “Peace Elite”, “Fantasy Westward Journey” and “Fifth Personality”, and launched custom jars of popular characters that players like. Then in January 2022, the Baijia surname jar was launched, and a rush to buy the product was launched after the product was launched.

Running into the Metaverse, can Wanglaoji see a different future?

The endless beverage market is making this aging brand face unimaginable challenges. As a trendy concept, the Metaverse may become a way for Wanglaoji to relieve his anxiety, but can Wanglaoji’s Metaverse play work?

Chinese food industry analyst Zhu Danpeng believes that the entry of food and beverage companies into the Metaverse is “actually a hot topic, without any meaning.” He pointed out that this is a “playing concept, playing a gimmick, whoever proposes it first may be able to be first.” To enjoy this traffic is to hype and attract fans”, a means of gaining traffic.

In the near future, some listed companies that want to have a relationship with the Metaverse, such as Saturday, which makes shoes, and Guoguang Electric, which makes audio, have received letters of concern from the regulatory authorities, requesting to explain the correlation between their main business and “Metaverse”. , so as to prevent companies from strongly posting “hot spots” to interfere with the market before a stable business model has been formed.

Secondly, the ultimate goal of marketing is to achieve traffic conversion, but whether it can be converted into sustainable sales after marketing is still a question mark. For the retail industry, products and channels are the top priorities. Compared with the high-frequency and high-efficiency new speed of new consumer brands and new tea drinks, the research and development of herbal tea companies should be said to have a long way to go. In particular, if there is no forward-looking and unique vision, and just blindly follow the trend, it is difficult to have an influence in the minds of consumers who are increasingly autonomous.

Blocked by obstacles such as technology and cost, it is not yet known whether the Metaverse on the tuyere can achieve a real landing in the future. At present, these entrants can be said to be crossing the river by feeling the stones, as is Wang Laoji.

But whether it is a real layout or a hot spot, the beverage industry, as a real economy and a virtual Metaverse, is actually not in line. As Musk said, the Metaverse may currently be just a marketing ploy for businesses. But it is not difficult to foresee that new things born with the help of this shareholder wind will become the levers for brand marketing to achieve new value growth.

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