Stationery brands are selling cultural and creative "circle fans" young people.

For many years, Chenguang Stationery has been lying in inconspicuous places around schools, streets, and supermarket shelves. In China, it is difficult to find a post-90s or post-00s generation who has not used Chenguang Stationery.

Since its listing in 2015, the stock price of Chenguang Stationery has doubled every year, with a cumulative increase of over 844%, and the latest market value is close to 79 billion yuan.

What is the reason that Chenguang Stationery has always been "eternal"?

In Chenguang Stationery's 2019 annual report, there is a paragraph, "Drive the overall category with explosive models, focus on key categories, upgrade product structure, and improve the layout of boutique cultural and creative products."

A commonly observed perception is that the domestic consumer market is becoming more mature, and mainstream consumers of stationery, post-90s and post-00s and other post-90s and post-00s, have a growing demand for mid-to-high-end stationery products.

"My daughter in elementary school has the joy of picking stationery here. I can also take a look at the beautiful cups and canvas bags. The needs of both are met at the same time." For the 33-year-old Beijing working mother Fan Wenwen, from Xidan Joy City Jiumu Sundry Shop is a place where both mother and daughter love to go shopping, but she didn't know that this common boutique grocery store in Beijing's business district actually belongs to Chenguang Stationery.

What Fan Wenwen doesn't know is that the "by the way" she thinks is not really "by the way", and she is also a key target customer of the Jiumu Sundry Company. Applying the language of the Internet, Chenguang Stationery's purpose is to refresh and retain. In fact, in addition to Jiu Mu Sundry Store, there are several similar grocery stores in Xidan Joy City, such as Tomato Pocket, Man Box Store, MINISO, and Ku Le Chao Wan.
In recent years, Chenguang has started its new retail layout. Specifically, there are two main business models, including Chenguang Living Hall and Jiumu Sundries Shelf.

Public information shows that Jiu Mu Sunshine Club targets young women and their families aged 15 to 35 as the target consumer group. The products sold are mainly stationery, cultural creation, educational entertainment, and practical home furnishings.

The layout of Chenguang Life Hall is earlier, with students aged 8-15 as the main consumer group. The products sold are mainly stationery categories, supplemented by some lifestyle and entertainment categories. The shops are mainly concentrated in Xinhua Bookstore and complex boutiques. bookstore.

If Chenguang Life Museum is an exploration of upgrading existing traditional channels, then Jiumu Sundry Shop is more like Chenguang’s innovative business as its users grow older, furthering the brand effect it has established among student customers. Continue into the lives of young people.

Industry insiders observe that the large retail store model with Chenguang Life Hall and Jiumu Sundry Shop as the main body is the bridgehead for Chenguang’s traditional core business channel upgrades and product upgrades.

Specifically, the life hall aims at channel upgrades, while Jiumu Sundry Store is positioned at a new retail model, focusing on product structure upgrades and polishing of explosive products.

In the new retail industry, I only know that the gameplay of opening a store has been abandoned long ago. Jiumu Sundry Shop has started to join in July 2018, which means that Chenguang has launched an offensive in the profitability of new retail stores.

According to the financial report, as of the third quarter of 2020, Chenguang has 440 retail stores including 106 Chenguang Living Halls and 334 (211 directly managed and 123 franchised) Jiumu Sundry Shops. The financial report data shows that in 2019, the revenue of Chenguang Life Museum and Jiumu Sundries Co., Ltd. have achieved substantial growth, with year-on-year growth rates of 96.34% and 200.95%, respectively.