Walking into the e-commerce Department of Fengshi (Qingdao) Marine Technology Co., Ltd., you can see a busy scene in full swing. Some are stepping up the preparation and distribution of goods, some are checking shopping orders, and some are urgently responding to customer inquiries... They are working together to fight for the "year of the tiger". President zhanghongyi told the reporter that in 2021, they won a big victory, achieving a 12 fold growth rate throughout the year, and the total sales in January and February 2022 were 8 times that of the same period in 2021. Since starting business in 2018, Fengshi technology has been losing money for three years. What kind of entrepreneurial risk has Fengshi technology experienced from turning loss into profit to achieving 12 fold growth? How did you turn the tables against the wind?
Preliminary exploration, blue ocean industry
"We set foot in this industry because the family members of the founder of the company bought poor quality health care products and had problems eating them," Zhang said. "Since we can't stop the elderly from buying them, we can do our best to make real and good products so that relatives who care about their health won't get hurt."
"After fully understanding the field of health nutrition, we found that shrimp oil is a good thing." Zhanghongyu told the reporter, but through research, they soon found that the shrimp oil industry is very unique. The industry is small but the threshold is very high. To produce high-quality shrimp oil is closely related to high-quality raw materials, cutting-edge technology and modern equipment. Most of the krill oil products are trawled, so the krill is easy to deteriorate and rot after being discharged, which greatly reduces the edible value of krill oil. "When we make krill oil, we should make it a product of international quality, natural safety, genuine goods and high prices, and use the idea of making medicine to make it." Zhang said.
"Why do you say 'use the idea of making medicine to make food'?" In response to the reporter's questions, zhanghongyu explained that Chinese people stress that medicine and food have the same origin. To make food have medicinal value, we must first ensure high quality, at the same time, high doses of effective ingredients, and clinical verification, so as to truly benefit people.
In order to find the best source of krill oil, the start-up team of Fengshi technology found the world's largest supplier of krill oil raw materials - Norwegian AK company after several twists and turns. AK company is a famous enterprise in northern Europe for a century. It is the only enterprise in the world that fully controls the whole industrial chain from fishing to the production of shrimp oil as raw material. The krill oil produced by the company adopts the pumping technology, which is sucked up together with krill and sea water. On the basis of ensuring that krill is alive and free from damage, it is directly processed and produced on board. It completely retains the nutritional components of krill, such as phospholipid omega-3 and astaxanthin, and achieves 100% traceability.
"At that time, Norwegian AKER company was also optimistic about the vast market of China. Adhering to the concept of 'international quality and ecological win-win', Fengshi technology hit it off immediately and reached deep strategic cooperation immediately." Zhang said.
In 2018, Fengshi technology introduced the pure krill oil rich in marine phospholipids provided by AKER company from Norway to the Chinese market. This move created a "pure oil" era in the Chinese prawn oil market and set a new benchmark for the industry.
Although the development prospect of the industry is bright with the help of AK company, Zhang Hongyu shook his head repeatedly and said that the entrepreneurial road of Fengshi technology is extremely difficult and narrowly escaped death.
"First, the market needs to be cultivated. Although krill oil is good, most ordinary consumers do not recognize it; second, some enterprises are shoddy, seriously disrupting the market; third, there is no sales channel." Zhanghongyi said that high initial investment, high operating expenses and high threshold for settling in the first-line e-commerce platform once put the company's operation in a desperate situation.
"At that time, there were also solutions. We could sell our products or make other low-end products, but doing these went against our original intention to enter the industry." Zhanghongyi explained to the reporter that it is necessary to drive down the price for marketing and other low-end products, but the cost of krill oil products they make is not low, and the premise to drive down the price can only be to shoddy quality. "This is a deceptive sales, we must not do it. The products made by Fengshi technology are to make the family dare to eat, and they can really have an effect after eating."
"Even in the most difficult times, our company always adheres to the policy of 'two commanding heights' of science and technology and morality. The moral commanding height is to insist on genuine goods and international quality, and never do products that deceive the people. The scientific and technological commanding height is to master and use the most advanced technology in the industry to make market-leading products with high quality and high technology content. The product price will be reduced through industrialized and standardized manufacturing processes The quality should be improved to ensure that the goods are good and the prices are good, so that the people can afford it. " Zhang said.
However, it is not easy to stick to these "two commanding heights". "At that time, the company was small, unprofitable, and the bank did not lend. Our founders could only pay their employees by mortgaging their own property." Recalling the past of entrepreneurship, zhanghongyu sighed, "the company has not yet embarked on the right track. The epidemic has come. We 'compensate' for entering a high-end Audi every month. That kind of inner suffering is not affordable to ordinary people."
The wind knows the strong grass, and the fire sees the real gold. What makes the Fengshi technology start-up team feel the dawn is that the repurchase rate data began to rise gradually. "People will recognize good things sooner or later." With the support of this belief, we have stuck to it for three years, and Fengshi technology has ushered in the spring.
"We abandoned the traditional sales idea and explored a set of factory direct distribution mode, reducing more than 60% of intermediate links and more than 50% of access fees, so as to reduce the terminal price. As a result, the Vik brand krill oil with Wumart's high price and good results gradually emerged in the market." Zhang said.
Innovation, take advantage of the momentum
If the early stage of the establishment relied on foresight and perseverance, then scientific research and development has injected a steady stream of kinetic energy into Fengshi technology.
It has established industry university research cooperation relations with many well-known institutions such as Ocean University of China and Yellow Sea Fisheries Research Institute. In 2020, it joined hands with Qingdao Institute of marine biological medicine to establish the "innovation and Center for nutrition and health products", which cooperates with resources in the United States, Norway, Taiwan, China and other places around the world to carry out product Material upgrade. In terms of production, Fengshi technology processes and produces in joint factories in Norway, New Zealand, Germany and other places, and its factories in China are also under construction.
For Zhoufang, the director of Fengshi technology, searching scientific papers in depth has become a daily compulsory course for their team. "Many of our innovative products are innovative points found in scientific papers". Zhou Fang told reporters that they have produced seven new products with shrimp oil as the core raw material. In addition, it has also developed and launched more than 20 other products. "Up to now, Fengshi technology has obtained more than ten patents."
Zhou Fang told the reporter that nearly 70 kinds of raw materials used in the new products developed by Fengshi technology have been clinically verified in order to ensure the high quality of the products. "All new products will select specific groups for clinical trials, and provide valuable guidance for products through clinical trial analysis of observation indicators, dose effects, etc." Zhou Fang said, "the good products we have identified must meet three standards: the users' eating effect is good, and the repurchase rate is high; the R & D personnel take the lead in eating, and the products are guaranteed from the heart; the sales personnel are good at selling, and the products have characteristics."
Professor libafang, who was employed as the chief expert of the innovation and R & D center of Fengshi nutrition and health products, particularly appreciated the initiative of Fengshi technology in R & D. In 2021, the R & D team of Qingdao Institute of marine biomedicine led by Li Bafang, together with Fengshi technology and AK company, jointly developed six new products. Among them, the series of pure phosphorus shrimp oil developed has a marine phospholipid content of more than 56%, reaching the best quality level in the world. In addition, in the field of compound products of prawn oil, they also developed compound products of prawn oil and astaxanthin, and compound products of prawn oil and lutein.
Taking advantage of the trend to accelerate scientific and technological innovation, today's Fengshi technology has rapidly grown into a scientific and technological enterprise integrating product R & D, production and sales. At present, Fengshi technology has developed a total of 31 new products in the top ten product series of cardiovascular and cerebrovascular maintenance, digestive health and bone health. Among them, some products have also obtained international patents in the United States, Canada, Japan and the European Union, and have passed the authoritative certification of orivo (pure Antarctic shrimp oil certification), FDA (U.S. Food and Drug Administration), GMP (mandatory standard for good manufacturing), NSF (National Health Foundation of the United States), NNFA (National Nutrition Food Association of the United States), SGS (Swiss general notary public) and other international professional institutions. "In particular, orivo certification is one of the few enterprises that have passed the certification for shrimp oil products in the world. Passing this certification means that this certification body can spot check your products at any time in the global market terminal. Once there are defects, they will announce them, which will be a disaster to the enterprise. We also pass this rigorous certification to ensure that the product quality is consistent." Zhang said.
Win the market by word of mouth
"Now, the repurchase rate of our products has reached 42%, and the unit price of re purchased customers can reach more than 700 yuan. When doing activities, the unit price of re purchased customers can reach more than 1000 yuan." Zhanghongyu told the reporter that before the sales channels were opened, Fengshi technology had gone through many detours, and the purchase volume had been unable to go up. It was often too worried to sleep.
It is reported that there are a series of conditions for the brand to settle in tmall. Compared with Taobao, tmall is a synonym for quality and trust. Products on this platform are often more trusted by customers. At the beginning, Fengshi technology, which was unable to settle in tmall mall, was forced to open a store on Taobao. Naturally, there was little sales.
There is no way online, the cultivation period offline is too long, customers do not recognize it, and there is no money for the marketing of the whole line, which seems to be a dead end.
"We need to focus on one area to break the game." After a large amount of research in the early stage, Zhang Hongyi persuaded the team to focus on the limited promotion costs and concentrate on the attack line. Even so, there were many difficulties. At that time, the epidemic forced the live broadcast to bring goods. They tightened their belts and spent a lot of money to find stars to bring goods, but only sold a pit fee.
After the setback, zhanghongyi, who is good at summing up experience from failure, led the R & D team to conduct in-depth research on the user population. According to tmall's user label, by analyzing its age, region, interest and other data, he accurately marketed users, launched a series of medical nutrition products for the middle-aged and the elderly, and a series of dietary nutrition supplements for the young. This soon saw the effect, "under the operation combination, Vik brand prawn oil exploded." Zhanghongyu said excitedly, "soon we will have the first and second customers... More and more repeat customers. Krill oil has also become the first in the category of tmall segmentation, which shows that good things are recognized by everyone. It also proves that it is correct to adhere to the concept of 'two commanding heights' at the right time."
"After the krill oil products of Vik and nyo3 brands operated by US reached the top in tmall, jd.com, vipshop, and e-commerce platforms such as Tiktok international, which have extremely strict requirements on nutrition and health products, also sent us invitations to settle in." Zhanghongyu said that nyo3 has rapidly grown into one of the six major brands in the nutritional and dietary supplement industry.
After making great achievements online, Fengshi technology has also begun to accelerate the pace of expanding terminal channels offline. Zhanghongyu told the reporter that Fengshi technology has successively opened flagship stores in Qingdao Jusco, entered high-end supermarkets such as Hainan airport duty-free store, Qingdao Hisense Plaza, Hangzhou building, Nanjing Golden Eagle Shopping Center, Mixc, China Resources Ole, and high-end pharmaceutical stores such as Beijing Tongrentang and famasico. So far, more than 300 counters have been arranged offline.
The reason why it can develop so rapidly, zhanghongyi said that good products are the cornerstone of the rapid development of Fengshi technology, and the word-of-mouth of consumers is the driving force for the stable development of enterprises. "Fengshi has a private domain traffic pool, where old users often spontaneously expose physical examination reports. Some customers who have improved their hyperlipidemia through shrimp oil also take the initiative to ask us to match them with other applicable products according to their physical examination reports." Zhang said.
With the general improvement of living standards, people's health awareness has been continuously enhanced. According to the outline of the "healthy China 2030" plan, the market scale of China's large health industry will exceed 16trillion by 2030, and the market potential is huge. At the same time, China's online health market has also ushered in rapid development, and is in a highly decentralized state. The market concentration is low, and the leading enterprises are vacant, which provides greater development space for Fengshi technology. "Our goal is to break out stronger tension on this track and become a leading enterprise in the industry through the concept of 'making healthy food with the idea of making medicine'."
Release time of beiqing.com: March 23, 2022 official account of beiqing.com
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