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Why did VCs start to swarm the health care products industry?
Such praise comes from a group of highly sophisticated people-Chinese investors and entrepreneurs
0000pt;mso-font-kerning:1.
0000pt;">In addition to being hailed as the main consumer army of major consumer goods and punk health-preserving youths, the post-90s generation also has a deeper compliment: they have finally begun to have national self-confidence, and finally their minds have risen, and they are no longer so "worshiping foreigners"
.
Such praise comes from a group of highly sophisticated people-Chinese investors and entrepreneurs
0000pt;">0000pt;mso-font-kerning:1.
0000pt;">However, smart people will find that the post-90s
0000pt;mso-font-kerning:1.
0000pt;">generation is 0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;">The data shows that in the one and a half years from January 2020 to the present, 345 health-related companies on the market have obtained financing, and the top funds that you can be named have basically entered the market, including Sequoia, GGV, and GGV.
Kai-hui, black ants and so on
.
The data shows that in the one and a half years from January 2020 to the present, 345 health-related companies on the market have obtained financing, and the top funds that you can be named have basically entered the market, including Sequoia, GGV, and GGV.
0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;">These financing companies have different positionings.
Some are functional foods, some are functional foods, some claim oral beauty, and some say oral health.
Various terms are caught off guard
.
0000pt;mso-font-kerning:1.
The media teachers have already started to panic in advance:0000pt;mso-font-kerning:1.
0000pt;">0000pt;mso-font-kerning:1.
0000pt;">This kind of posture springing up after the rain makes people have to think of some memories
0000pt;mso-font-kerning:1.
0000pt;">from 0000pt;mso-font-kerning:1.
0000pt;">20 years ago, such as not accepting gifts this year, such as being able to go to the fifth floor in one breath, such as spending the same money to make up for two 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">The media teachers have already started to panic in advance: this posture that has sprung up after the rain makes people have to think of some memories from 20 years ago, such as not accepting gifts for the holidays this year, such as being able to go to the fifth floor in one breath, such as spending the same money to make up for two things.
.
The media teachers have already started to panic in advance:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The health care products sold to young people today are essentially different from the health care products sold to parents 20 years ago? The health care products sold to young people today are essentially different from the health care products sold to parents 20 years ago?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Is it harvesting the IQ tax?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">I believe you will find the answers to these two questions in this article; but in addition, there is one more question that should be discussed:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Why do VCs with 0000pt;mso-font-kerning:1.
0000pt;">high IQ, high education and knowledge 0000pt;mso-font-kerning:1.
0000pt;">choose to swarm this industry that has been silent for 20 years now? Why do VCs with high IQ, high education and knowledge choose to swarm this industry that has been silent for 20 years now?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">
0000pt;">Many people may not know that Shi Yuzhu was not the best seller of health care products in the 1990s
.
Many people may not know that Shi Yuzhu was not the best seller of health care products in the 1990s
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">As early as 1993, Zhu Baoguo, a former technician at the Fifth Chemical Plant in Xinxiang City, Henan Province, had already made a precise positioning for his health care products.
This is also the key to his success: aged 25-35 (and now many new The positioning of health care products is similar), fashionable white-collar women, with a monthly income of more than 1,500 yuan, with symptoms of chloasma and qi and blood deficiency
.
As early as 1993, Zhu Baoguo, a former technician at the Fifth Chemical Plant in Xinxiang City, Henan Province, had already made a precise positioning for his health care products.
This is also the key to his success: aged 25-35 (and now many new The positioning of health care products is similar), fashionable white-collar women, with a monthly income of more than 1,500 yuan, with symptoms of chloasma and qi and blood deficiency
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Relying on the secret prescription for treating melasma bought for 90,000 yuan, in 1993, Zhu Baoguo mass-produced the first female health care product in China, "Wifei Oral Liquid", using "blood activating, freckle, and beauty" as a marketing gimmick, quickly winning women Market
.
I believe that many parents born in the 90s have seen this scene on CCTV: Mao Amin, dressed as a good wife and mother, is wearing a cheongsam, holding his wife's oral liquid, and saying affectionately, "The true love will last forever in my heart", this sentence The golden advertising slogan that spent 10 million smashed Zhu Baoguo's sales from 30 million yuan two years ago to 160 million yuan
.
Relying on the secret prescription for treating melasma bought for 90,000 yuan, in 1993, Zhu Baoguo mass-produced the first female health care product in China, "Wifei Oral Liquid", using "blood activating, freckle, and beauty" as a marketing gimmick, quickly winning women Market
.
I believe that many parents born in the 90s have seen this scene on CCTV: Mao Amin, dressed as a good wife and mother, is wearing a cheongsam, holding his wife's oral liquid, and saying affectionately, "The true love will last forever in my heart", this sentence The golden advertising slogan that spent 10 million smashed Zhu Baoguo's sales from 30 million yuan two years ago to 160 million yuan
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Following the wife's oral solution, Jingxin oral solution, which focuses on menopausal women, has taken viral marketing to the next level
.
At that time, almost everyone could memorize its ad slogan —women should meditate when they are younger, and take oral liquid for meditation
.
Following the wife's oral solution, Jingxin oral solution, which focuses on menopausal women, has taken viral marketing to the next level
.
At that time, almost everyone could memorize its ad slogan —women should meditate when they are younger, and take oral liquid for meditation
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Except for Zhu Baoguo, many of the richest men have sold 0000pt;mso-font-kerning:1.
0000pt;">health care products in the first wave of health care products ( 0000pt;mso-font-kerning:1.
0000pt;">1985-1995) 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">Zong Qinghou, the founder of Wahaha, has sold children's nutrient solution with an annual output value of over 100 million yuan, and is on a par with Helios (annual sales of 240 million yuan, accounting for 63% of the market share) [1], and is known as a health care product in China.
Duo 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">Zhong Sui, the founder of Nongfu Spring, sold the health care product turtle turtle pills, which laid the capital foundation for the subsequent entrepreneurship of Nongfu Spring 0000pt;mso-font-kerning:1.
0000pt;">.
Except for Zhu Baoguo, many of the richest men have sold health care products in the first wave of health care products ( 1985-1995)
.
Zong Qinghou, the founder of Wahaha, has sold children's nutrient solution with an annual output value of over 100 million yuan, and is on a par with Helios (annual sales of 240 million yuan, accounting for 63% of the market share) [1], and is known as a health care product in China.
Duo
.
Zhong Sui, the founder of Nongfu Spring, sold the health care product turtle turtle pills, which laid the capital foundation for the subsequent entrepreneurship of Nongfu Spring
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Regrettably, these bigwigs didn't seem to plan to stay in the health care industry forever from the beginning
.
Selling health care products is more like a channel for them to draw funds.
After raising funds through health care products to become the richest man, most of them have alienated the health care product industry more or less
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">For example, Zhu Baoguo's "Wife Pharmaceuticals" (now Health Yuan, Hillhouse is its second largest shareholder), after going public in 2001, played a big role in capital means, through mergers and acquisitions, entered the pharmaceutical field with a high profile, and was even referred to by the media as medicine.
The "Buffett" of the world
.
Shi Yuzhu turned to online games in 2006, Zhong Sui-suan became a porter of nature in 1996, and Zong Qinghou continued to Wahaha
.
For example, Zhu Baoguo's "Wife Pharmaceuticals" (now Health Yuan, Hillhouse is its second largest shareholder), after going public in 2001, played a big role in capital means, through mergers and acquisitions, entered the pharmaceutical field with a high profile, and was even referred to by the media as medicine.
The "Buffett" of the world
.
Shi Yuzhu turned to online games in 2006, Zhong Sui-suan became a porter of nature in 1996, and Zong Qinghou continued to Wahaha
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">So the question is, if health care products are so profitable, why do these people leave?0000pt;mso-font-kerning:1.
0000pt;">
On the discoloration of health care products:the rise of a company witha market value of60 billion yuan.
On the discoloration of health care products:the rise of a company witha market value of60 billion0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">A person in the industry knows that Tomson By-Health, the founder who once worked for Apollo Group and known as the leading company in the health care product industry, dislikes being defined as a health care product
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Its internal executives even made a blunt statement 0000pt;mso-font-kerning:1.
0000pt;">at the 0000pt;mso-font-kerning:1.
0000pt;">2020 shareholders meeting: By-Health did not mention the term "health products" since the day it went public (2010).
Assuming that By-Health is positioned in the health care industry, it must not be able to go.
Today 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">As of press time, BY-HEALTH has a market value of 61.
3 billion yuan, gross profit margin has been maintained at about 65% in the past 10 years, and net profit margin has reached 26% 0000pt;mso-font-kerning:1.
0000pt;">.
Its internal executives even made a blunt statement at the 2020 shareholders meeting: By-Health did not mention the term "health products" since the day it went public (2010).
Assuming that By-Health is positioned in the health care industry, it must not be able to go.
Today
.
As of press time, BY-HEALTH has a market value of 61.
3 billion yuan, gross profit margin has been maintained at about 65% in the past 10 years, and net profit margin has reached 26%
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">When talking about the three words of health products, the first thing that many people think of is: IQ tax
.
The reasons are not repeated here.
The banners of "covering all diseases" and "immortality" are almost entirely from the marketing and promotion of health products
.
When talking about the three words of health products, the first thing that many people think of is: IQ tax
.
The reasons are not repeated here.
The banners of "covering all diseases" and "immortality" are almost entirely from the marketing and promotion of health products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The watershed appeared in 1998.
After the death of the famous health product "Three Oral Liquid", the industry immediately entered a period of strict supervision [2].
Note that the strict supervision of the country is almost the highest threshold for the health care industry: the watershed appeared in 1998 After the death of the famous health product "Three Oral Liquids" appeared in 1989, the industry immediately entered a period of strict supervision [2].
Note that strict national supervision is almost the highest threshold for the health care product industry:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">2001-2002, the industry was reorganized, and unlicensed vendors were banned;0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2005, relevant policies were issued to regulate the registration and advertising of health products.
At this time, there were only more than 1,000 health product manufacturers (more than 3,000 in 2000);0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2017, policies such as "Fighting against Four Non-standards", "Prohibition of Swiping Medical Insurance Cards", "New E-commerce Law" and "Hundred-Day Integration" were successively introduced;0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2019, the "Hundred Days Action" rectified direct sales, and the industry growth rate dropped sharply to 2.
1% (since 2008, the compound growth rate of the health care product industry was +9%)
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">1998 was a watershed in the health care product industry, and it was also the beginning of the health care product industry experiencing a full-blown cold (1998-2018)
.
More importantly, it has also become the best time for BY-Health to overtake a corner
.
If all the aforementioned bigwigs have participated in the stigma campaign in the health care product industry "more or less, unconsciously", then BY-HEALTH can be regarded as an important contributor to the IQ tax for health care products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">BY-HEALTH focused on dietary supplements and swallowed 142 "blue hats" in a 0000pt;mso-font-kerning:1.
0000pt;">muffled voice 0000pt;mso-font-kerning:1.
0000pt;">(Approval Certificates for Supplements and Health Foods, approved by the China Food and Drug Administration, generally take 2-3 years) 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">In almost all major pharmacies, you can see a bottle of By-Health developed by By-Health 0000pt;mso-font-kerning:1.
0000pt;">.
BY-HEALTH focused on dietary supplements and swallowed 142 "blue hats" in a muffled voice (Approval Certificates for Supplements and Health Foods, approved by the China Food and Drug Administration, generally take 2-3 years)
.
In almost all major pharmacies, you can see a bottle of By-Health developed by By-Health
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">However, it is a pity that the health care product industry has been in development for more than 20 years.
Today, when the Internet is fully immersed, when it comes to health care products, there is still no phenomenon-level single product that is well-known and blurted out like the melatonin and wife oral liquid back then
.
However, it is a pity that the health care product industry has been in development for more than 20 years.
Today, when the Internet is fully immersed, when it comes to health care products, there is still no phenomenon-level single product that is well-known and blurted out like the melatonin and wife oral liquid back then
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Then the question comes again.
Since the health care product industry is so "difficult to eat", why do people now start to follow suit? Then the question comes again.
Since the health care product industry is so "difficult to eat", why do people now start to follow suit?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">
0000pt;">Do you know what the most important keywords for men's health products in Taobao searches? It is impotence
.
Then there is hair growth
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">This is a small discovery made by Kang Le, the founder
0000pt;mso-font-kerning:1.
0000pt;">of 0000pt;mso-font-kerning:1.
0000pt;">BUFX, 0000pt;mso-font-kerning:1.
0000pt;">who has positioned himself as a functional food brand 0000pt;mso-font-kerning:1.
0000pt;">[1].
After that, Kang Le selected 300 male youths born in 1995 to conduct user research and found that more than 25-year-old young people 70% have used related products 0000pt;mso-font-kerning:1.
0000pt;">.
This is a small discovery made by Kang Le, the founder of BUFX, who has positioned himself as a functional food brand [1].
After that, Kang Le selected 300 male youths born in 1995 to conduct user research and found that more than 25-year-old young people 70% have used related products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In other words, out of 10 little brothers, 7 have used aphrodisiac products
.
In other words, out of 10 little brothers, 7 have used aphrodisiac products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Based on this segmented demand, BUFFX launched the Buff X soft candy, which quickly became a hit
.
According to data from the media Blue Shark Inventory, this product currently sells tens of millions of yuan a month, far exceeding the monthly sales of one million at the beginning of October 2020
.
Based on this segmented demand, BUFFX launched the Buff X soft candy, which quickly became a hit
.
According to data from the media Blue Shark Inventory, this product currently sells tens of millions of yuan a month, far exceeding the monthly sales of one million at the beginning of October 2020
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Obviously, BUFFX's >
.
The company also quickly won three rounds of financing within a year, and even before the company's products went public, Sequoia and Meihua had already invested in advance
.
Obviously, BUFFX's >
.
The company also quickly won three rounds of financing within a year, and even before the company's products went public, Sequoia and Meihua had already invested in advance
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Not only BUFX, but in this batch of new players, there are many "believers" in health care products of the older generation
.
Most of the modern marketing channels for new health care products come from the hottest social platforms nowadays: the recommendation of the head anchor, the sharing of Xiaohongshu notes, and the WeChat Moments of friends on the screen; for example, Wonderlab, which is out of the circle with a meal replacement small fat bottle, almost Covers these three main marketing channels
.
Not only BUFX, but in this batch of new players, there are many "believers" in health care products of the older generation
.
Most of the modern marketing channels for new health care products come from the hottest social platforms nowadays: the recommendation of the head anchor, the sharing of Xiaohongshu notes, and the WeChat Moments of friends on the screen; for example, Wonderlab, which is out of the circle with a meal replacement small fat bottle, almost Covers these three main marketing channels
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">And this group of newcomers can easily win the favor of VCs.
It seems that they have three things in common: 1) Almost every one has received investment from market-leading funds within the past year; 2) The core team members (including the founders) have follow-ups.
Brand marketing related background; 3) Targeting young people born in the 90s, positioning young health, oral beauty/health
.
And this group of newcomers can easily win the favor of VCs.
It seems that they have three things in common: 1) Almost every one has received investment from market-leading funds within the past year; 2) The core team members (including the founders) have follow-ups.
Brand marketing related background; 3) Targeting young people born in the 90s, positioning young health, oral beauty/health
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">
0000pt;">Some new health products0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The question is, what does VC value these companies? The longest establishment of these companies is less than 2 years, and many of them have launched products almost recently
.
Instead of picking up the secrets of VCs' invested companies, try to use God's perspective, and you will find that VCs are more like betting
.
The question is, what does VC value these companies? The longest establishment of these companies is less than 2 years, and many of them have launched products almost recently
.
Instead of picking up the secrets of VCs' invested companies, try to use God's perspective, and you will find that VCs are more like betting
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Betting on the industry cycle (in the health and wellness industry)
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">After 20 years of cold period for
0000pt;mso-font-kerning:1.
0000pt;">health products 0000pt;mso-font-kerning:1.
0000pt;">, theoretically, there will be reheating, and the policy has slowed down the strict control of health products (starting from January 7, 2021, food-grade sodium hyaluronate raw materials can be used for ordinary food additives ) Is a very obvious signal 0000pt;mso-font-kerning:1.
0000pt;">.
After 20 years of cold period for health products , theoretically, there will be reheating, and the policy has slowed down the strict control of health products (starting from January 7, 2021, food-grade sodium hyaluronate raw materials can be used for ordinary food additives ) Is a very obvious signal
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In addition, from an investment perspective, it is not difficult to explain that newcomers, including capital, are stationed in the health and wellness industry, and it is even a bit too simple
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">1) The market is large enough
.
The scale of China's health care product industry is hundreds of billions of yuan, and it is the second largest health care product market after the United States, with an average annual growth rate of 10%.
This figure is 4.
7% in the mature US market
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">2) Still a blue ocean
.
The industry penetration rate is very low, only about 20%, 40% in Japan, and 50% in the United States (the highest penetration rate of functional food in the United States is 73%)
.
In China, with the exception of Infinitus (a direct selling company with a market share of about 11%), BY-HEALTH, which ranks second, has a market share of only about 6%
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">3) It is the general trend
.
First, there is a high probability that it is difficult for China to avoid an aging society; secondly, a young health-preserving army dominated by the post-90s population is emerging
.
Both the former and the latter are natural high-viscosity consumers in the health care product industry
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">However, when asked what health products post-90s would buy for their parents, "not buying domestic products" became their unified bottom line, which seemed to reflect the current status of products with health care functions emerging today—to varying degrees Abandon the old market and switch to the people who were born in the era of the rise of China's national power
.
However, when asked what health products post-90s would buy for their parents, "not buying domestic products" became their unified bottom line, which seemed to reflect the current status of products with health care functions emerging today—to varying degrees Abandon the old market and switch to the people who were born in the era of the rise of China's national power
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">4) Severely underestimated
.
This can be used for reference to By-Health's gross profit margin: 65% for ten years
.
In addition, health care products have a naturally high repurchase rate, and once consumers have approved the product, they will continue to repurchase
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2004, Zhu Baoguo, known as the king of health products, said in an interview with a highly incisive summary: There are many standards for measuring the maturity of an enterprise.
For the current Chinese pharmaceutical and health products companies, capital strength, The ability to open technology and market control are the main indicators to measure its maturity
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Judging from the current health care product market alone, it seems that it is still at the first stage mentioned by Mr.
Zhu -capital strength
.
When talking about these emerging health products, consumers still pay most attention to whether they are paying IQ taxes
.
Judging from the current health care product market alone, it seems that it is still at the first stage mentioned by Mr.
Zhu -capital strength
.
When talking about these emerging health products, consumers still pay most attention to whether they are paying IQ taxes
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The last question at the beginning of this article "Why VCs began to swarm the health care industry", I believe you have already answered the previous article
.
But if we are from a macro perspective, the advanced version of this question will become: Why is China's VC/PE industry now fierce? The last question at the beginning of this article "Why VCs began to swarm the health care industry", I believe you have already answered the previous article
.
But if we are from a macro perspective, the advanced version of this question will become: Why is China's VC/PE industry now fierce?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In the past two years, there is a saying that has been particularly popular in the venture capital circle.
You can hear a similar version at almost every venture capital summit: all business in China is worth doing again
.
This sentence is somewhat general and decisive.
The thinking of the king of health care products more than ten years ago by Zhu Baoguo is particularly poetic: the development history of human civilization is the history of innovation from generation to generation
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">However, leaving aside generality and poetry, one investor gave his answer very early: do more China
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Reference materials:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[1].
China’s new richest man has made his fortune through it, and has been repeatedly plagued by negative aspects such as death-eaters and pyramid schemes.
Can health care products be "washed out" by new brands? Blue Shark in stock, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[2].
In-depth report by Tomson Beijian, Western Securities, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[3].
Young people's consumption trend report, CBN Business Data Center, 20200000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[4].
Maybe everyone underestimated the profitability of health care products, Danliel88, 20200000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[5].
Health Products" Harvesting Young People, Ran Dimension, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In addition to being hailed as the main consumer army of major consumer goods and punk health-preserving youths, the post-90s generation also has a deeper compliment: they have finally begun to have national self-confidence, and finally their minds have risen, and they are no longer so "worshiping foreigners"
.
Such praise comes from a group of highly sophisticated people-Chinese investors and entrepreneurs
0000pt;mso-font-kerning:1.
0000pt;">In addition to being hailed as the main consumer army of major consumer goods and punk health-preserving youths, the post-90s generation also has a deeper compliment: they have finally begun to have national self-confidence, and finally their minds have risen, and they are no longer so "worshiping foreigners"
.
Such praise comes from a group of highly sophisticated people-Chinese investors and entrepreneurs
0000pt;mso-font-kerning:1.
0000pt;">However, smart people will find that the post-90s generation is a bit panic recently .0000pt;mso-font-kerning:1.
0000pt;">0000pt;mso-font-kerning:1.
0000pt;">However, smart people will find that the post-90s
0000pt;mso-font-kerning:1.
0000pt;">generation is 0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;">The data shows that in the one and a half years from January 2020 to the present, 345 health-related companies on the market have obtained financing, and the top funds that you can be named have basically entered the market, including Sequoia, GGV, and GGV.
Kai-hui, black ants and so on
.
0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;">The data shows that in the one and a half years from January 2020 to the present, 345 health-related companies on the market have obtained financing, and the top funds that you can be named have basically entered the market, including Sequoia, GGV, and GGV.
Kai-hui, black ants and so on
.
The data shows that in the one and a half years from January 2020 to the present, 345 health-related companies on the market have obtained financing, and the top funds that you can be named have basically entered the market, including Sequoia, GGV, and GGV.
0000pt;mso-font-kerning:1.
0000pt;">These financing companies have different positionings.
Some are functional foods, some are functional foods, some claim oral beauty, and some say oral health.
Various terms are caught off guard
.
0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;">These financing companies have different positionings.
Some are functional foods, some are functional foods, some claim oral beauty, and some say oral health.
Various terms are caught off guard
.
0000pt;mso-font-kerning:1.
0000pt;mso-font-kerning:1.
0000pt;">This kind of posture springing up after the rain makes people have to think of some memories from 20 years ago, such as not accepting gifts this year, such as being able to go to the fifth floor in one breath, such as spending the same money to make up for two
.
The media teachers have already started to panic in advance:0000pt;mso-font-kerning:1.
0000pt;">0000pt;mso-font-kerning:1.
0000pt;">This kind of posture springing up after the rain makes people have to think of some memories
0000pt;mso-font-kerning:1.
0000pt;">from 0000pt;mso-font-kerning:1.
0000pt;">20 years ago, such as not accepting gifts this year, such as being able to go to the fifth floor in one breath, such as spending the same money to make up for two 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">The media teachers have already started to panic in advance: this posture that has sprung up after the rain makes people have to think of some memories from 20 years ago, such as not accepting gifts for the holidays this year, such as being able to go to the fifth floor in one breath, such as spending the same money to make up for two things.
.
The media teachers have already started to panic in advance:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">The health care products sold to young people today are essentially different from the health care products sold to parents 20 years ago?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The health care products sold to young people today are essentially different from the health care products sold to parents 20 years ago? The health care products sold to young people today are essentially different from the health care products sold to parents 20 years ago?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Is it harvesting the IQ tax?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Is it harvesting the IQ tax?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">I believe you will find the answers to these two questions in this article; but in addition, there is one more question that should be discussed:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">I believe you will find the answers to these two questions in this article; but in addition, there is one more question that should be discussed:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Why do VCs with high IQ, high education and knowledge choose to swarm this industry that has been silent for 20 years now?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Why do VCs with 0000pt;mso-font-kerning:1.
0000pt;">high IQ, high education and knowledge 0000pt;mso-font-kerning:1.
0000pt;">choose to swarm this industry that has been silent for 20 years now? Why do VCs with high IQ, high education and knowledge choose to swarm this industry that has been silent for 20 years now?0000pt;mso-font-kerning:1.
0000pt;">
01
01 01The first wave: mass production of the richest man0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Many people may not know that Shi Yuzhu was not the best seller of health care products in the 1990s
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Many people may not know that Shi Yuzhu was not the best seller of health care products in the 1990s
.
Many people may not know that Shi Yuzhu was not the best seller of health care products in the 1990s
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">As early as 1993, Zhu Baoguo, a former technician at the Fifth Chemical Plant in Xinxiang City, Henan Province, had already made a precise positioning for his health care products.
This is also the key to his success: aged 25-35 (and now many new The positioning of health care products is similar), fashionable white-collar women, with a monthly income of more than 1,500 yuan, with symptoms of chloasma and qi and blood deficiency
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">As early as 1993, Zhu Baoguo, a former technician at the Fifth Chemical Plant in Xinxiang City, Henan Province, had already made a precise positioning for his health care products.
This is also the key to his success: aged 25-35 (and now many new The positioning of health care products is similar), fashionable white-collar women, with a monthly income of more than 1,500 yuan, with symptoms of chloasma and qi and blood deficiency
.
As early as 1993, Zhu Baoguo, a former technician at the Fifth Chemical Plant in Xinxiang City, Henan Province, had already made a precise positioning for his health care products.
This is also the key to his success: aged 25-35 (and now many new The positioning of health care products is similar), fashionable white-collar women, with a monthly income of more than 1,500 yuan, with symptoms of chloasma and qi and blood deficiency
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Relying on the secret prescription for treating melasma bought for 90,000 yuan, in 1993, Zhu Baoguo mass-produced the first female health care product in China, "Wifei Oral Liquid", using "blood activating, freckle, and beauty" as a marketing gimmick, quickly winning women Market
.
I believe that many parents born in the 90s have seen this scene on CCTV: Mao Amin, dressed as a good wife and mother, is wearing a cheongsam, holding his wife's oral liquid, and saying affectionately, "The true love will last forever in my heart", this sentence The golden advertising slogan that spent 10 million smashed Zhu Baoguo's sales from 30 million yuan two years ago to 160 million yuan
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Relying on the secret prescription for treating melasma bought for 90,000 yuan, in 1993, Zhu Baoguo mass-produced the first female health care product in China, "Wifei Oral Liquid", using "blood activating, freckle, and beauty" as a marketing gimmick, quickly winning women Market
.
I believe that many parents born in the 90s have seen this scene on CCTV: Mao Amin, dressed as a good wife and mother, is wearing a cheongsam, holding his wife's oral liquid, and saying affectionately, "The true love will last forever in my heart", this sentence The golden advertising slogan that spent 10 million smashed Zhu Baoguo's sales from 30 million yuan two years ago to 160 million yuan
.
Relying on the secret prescription for treating melasma bought for 90,000 yuan, in 1993, Zhu Baoguo mass-produced the first female health care product in China, "Wifei Oral Liquid", using "blood activating, freckle, and beauty" as a marketing gimmick, quickly winning women Market
.
I believe that many parents born in the 90s have seen this scene on CCTV: Mao Amin, dressed as a good wife and mother, is wearing a cheongsam, holding his wife's oral liquid, and saying affectionately, "The true love will last forever in my heart", this sentence The golden advertising slogan that spent 10 million smashed Zhu Baoguo's sales from 30 million yuan two years ago to 160 million yuan
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Following the wife's oral solution, Jingxin oral solution, which focuses on menopausal women, has taken viral marketing to the next level
.
At that time, almost everyone could memorize its ad slogan —women should meditate when they are younger, and take oral liquid for meditation
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Following the wife's oral solution, Jingxin oral solution, which focuses on menopausal women, has taken viral marketing to the next level
.
At that time, almost everyone could memorize its ad slogan —women should meditate when they are younger, and take oral liquid for meditation
.
Following the wife's oral solution, Jingxin oral solution, which focuses on menopausal women, has taken viral marketing to the next level
.
At that time, almost everyone could memorize its ad slogan —women should meditate when they are younger, and take oral liquid for meditation
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Except for Zhu Baoguo, many of the richest men have sold health care products in the first wave of health care products ( 1985-1995)
.
Zong Qinghou, the founder of Wahaha, has sold children's nutrient solution with an annual output value of over 100 million yuan, and is on a par with Helios (annual sales of 240 million yuan, accounting for 63% of the market share) [1], and is known as a health care product in China.
Duo
.
Zhong Sui, the founder of Nongfu Spring, sold the health care product turtle turtle pills, which laid the capital foundation for the subsequent entrepreneurship of Nongfu Spring
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Except for Zhu Baoguo, many of the richest men have sold 0000pt;mso-font-kerning:1.
0000pt;">health care products in the first wave of health care products ( 0000pt;mso-font-kerning:1.
0000pt;">1985-1995) 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">Zong Qinghou, the founder of Wahaha, has sold children's nutrient solution with an annual output value of over 100 million yuan, and is on a par with Helios (annual sales of 240 million yuan, accounting for 63% of the market share) [1], and is known as a health care product in China.
Duo 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">Zhong Sui, the founder of Nongfu Spring, sold the health care product turtle turtle pills, which laid the capital foundation for the subsequent entrepreneurship of Nongfu Spring 0000pt;mso-font-kerning:1.
0000pt;">.
Except for Zhu Baoguo, many of the richest men have sold health care products in the first wave of health care products ( 1985-1995)
.
Zong Qinghou, the founder of Wahaha, has sold children's nutrient solution with an annual output value of over 100 million yuan, and is on a par with Helios (annual sales of 240 million yuan, accounting for 63% of the market share) [1], and is known as a health care product in China.
Duo
.
Zhong Sui, the founder of Nongfu Spring, sold the health care product turtle turtle pills, which laid the capital foundation for the subsequent entrepreneurship of Nongfu Spring
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Regrettably, these bigwigs didn't seem to plan to stay in the health care industry forever from the beginning
.
Selling health care products is more like a channel for them to draw funds.
After raising funds through health care products to become the richest man, most of them have alienated the health care product industry more or less
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Regrettably, these bigwigs didn't seem to plan to stay in the health care industry forever from the beginning
.
Selling health care products is more like a channel for them to draw funds.
After raising funds through health care products to become the richest man, most of them have alienated the health care product industry more or less
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">For example, Zhu Baoguo's "Wife Pharmaceuticals" (now Health Yuan, Hillhouse is its second largest shareholder), after going public in 2001, played a big role in capital means, through mergers and acquisitions, entered the pharmaceutical field with a high profile, and was even referred to by the media as medicine.
The "Buffett" of the world
.
Shi Yuzhu turned to online games in 2006, Zhong Sui-suan became a porter of nature in 1996, and Zong Qinghou continued to Wahaha
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">For example, Zhu Baoguo's "Wife Pharmaceuticals" (now Health Yuan, Hillhouse is its second largest shareholder), after going public in 2001, played a big role in capital means, through mergers and acquisitions, entered the pharmaceutical field with a high profile, and was even referred to by the media as medicine.
The "Buffett" of the world
.
Shi Yuzhu turned to online games in 2006, Zhong Sui-suan became a porter of nature in 1996, and Zong Qinghou continued to Wahaha
.
For example, Zhu Baoguo's "Wife Pharmaceuticals" (now Health Yuan, Hillhouse is its second largest shareholder), after going public in 2001, played a big role in capital means, through mergers and acquisitions, entered the pharmaceutical field with a high profile, and was even referred to by the media as medicine.
The "Buffett" of the world
.
Shi Yuzhu turned to online games in 2006, Zhong Sui-suan became a porter of nature in 1996, and Zong Qinghou continued to Wahaha
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">So the question is, if health care products are so profitable, why do these people leave?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">So the question is, if health care products are so profitable, why do these people leave?0000pt;mso-font-kerning:1.
0000pt;">
02
02 02On the discoloration of health care products: the rise of a company with a market value of 60 billion0000pt;mso-font-kerning:1.
0000pt;">
On the discoloration of health care products:the rise of a company witha market value of60 billion yuan.
On the discoloration of health care products:the rise of a company witha market value of60 billion0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">A person in the industry knows that Tomson By-Health, the founder who once worked for Apollo Group and known as the leading company in the health care product industry, dislikes being defined as a health care product
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">A person in the industry knows that Tomson By-Health, the founder who once worked for Apollo Group and known as the leading company in the health care product industry, dislikes being defined as a health care product
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Its internal executives even made a blunt statement at the 2020 shareholders meeting: By-Health did not mention the term "health products" since the day it went public (2010).
Assuming that By-Health is positioned in the health care industry, it must not be able to go.
Today
.
As of press time, BY-HEALTH has a market value of 61.
3 billion yuan, gross profit margin has been maintained at about 65% in the past 10 years, and net profit margin has reached 26%
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Its internal executives even made a blunt statement 0000pt;mso-font-kerning:1.
0000pt;">at the 0000pt;mso-font-kerning:1.
0000pt;">2020 shareholders meeting: By-Health did not mention the term "health products" since the day it went public (2010).
Assuming that By-Health is positioned in the health care industry, it must not be able to go.
Today 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">As of press time, BY-HEALTH has a market value of 61.
3 billion yuan, gross profit margin has been maintained at about 65% in the past 10 years, and net profit margin has reached 26% 0000pt;mso-font-kerning:1.
0000pt;">.
Its internal executives even made a blunt statement at the 2020 shareholders meeting: By-Health did not mention the term "health products" since the day it went public (2010).
Assuming that By-Health is positioned in the health care industry, it must not be able to go.
Today
.
As of press time, BY-HEALTH has a market value of 61.
3 billion yuan, gross profit margin has been maintained at about 65% in the past 10 years, and net profit margin has reached 26%
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">When talking about the three words of health products, the first thing that many people think of is: IQ tax
.
The reasons are not repeated here.
The banners of "covering all diseases" and "immortality" are almost entirely from the marketing and promotion of health products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">When talking about the three words of health products, the first thing that many people think of is: IQ tax
.
The reasons are not repeated here.
The banners of "covering all diseases" and "immortality" are almost entirely from the marketing and promotion of health products
.
When talking about the three words of health products, the first thing that many people think of is: IQ tax
.
The reasons are not repeated here.
The banners of "covering all diseases" and "immortality" are almost entirely from the marketing and promotion of health products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">The watershed appeared in 1998.
After the death of the famous health product "Three Oral Liquid", the industry immediately entered a period of strict supervision [2].
Note that strict national supervision is almost the highest threshold for the health care product industry:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The watershed appeared in 1998.
After the death of the famous health product "Three Oral Liquid", the industry immediately entered a period of strict supervision [2].
Note that the strict supervision of the country is almost the highest threshold for the health care industry: the watershed appeared in 1998 After the death of the famous health product "Three Oral Liquids" appeared in 1989, the industry immediately entered a period of strict supervision [2].
Note that strict national supervision is almost the highest threshold for the health care product industry:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">2001-2002, the industry was reorganized, and unlicensed vendors were banned;0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">2001-2002, the industry was reorganized, and unlicensed vendors were banned;0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In 2005, relevant policies were issued to regulate the registration and advertising of health products.
At this time, there were only more than 1,000 health product manufacturers (more than 3,000 in 2000);0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2005, relevant policies were issued to regulate the registration and advertising of health products.
At this time, there were only more than 1,000 health product manufacturers (more than 3,000 in 2000);0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In 2017, policies such as "Fighting against Four Non-standards", "Prohibition of Swiping Medical Insurance Cards", "New E-commerce Law" and "Hundred-Day Integration" were successively introduced;0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2017, policies such as "Fighting against Four Non-standards", "Prohibition of Swiping Medical Insurance Cards", "New E-commerce Law" and "Hundred-Day Integration" were successively introduced;0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In 2019, the "Hundred Days Action" rectified direct sales, and the industry growth rate dropped sharply to 2.
1% (since 2008, the compound growth rate of the health care product industry was +9%)
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2019, the "Hundred Days Action" rectified direct sales, and the industry growth rate dropped sharply to 2.
1% (since 2008, the compound growth rate of the health care product industry was +9%)
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">1998 was a watershed in the health care product industry, and it was also the beginning of the health care product industry experiencing a full-blown cold (1998-2018)
.
More importantly, it has also become the best time for BY-Health to overtake a corner
.
If all the aforementioned bigwigs have participated in the stigma campaign in the health care product industry "more or less, unconsciously", then BY-HEALTH can be regarded as an important contributor to the IQ tax for health care products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">1998 was a watershed in the health care product industry, and it was also the beginning of the health care product industry experiencing a full-blown cold (1998-2018)
.
More importantly, it has also become the best time for BY-Health to overtake a corner
.
If all the aforementioned bigwigs have participated in the stigma campaign in the health care product industry "more or less, unconsciously", then BY-HEALTH can be regarded as an important contributor to the IQ tax for health care products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">BY-HEALTH focused on dietary supplements and swallowed 142 "blue hats" in a muffled voice (Approval Certificates for Supplements and Health Foods, approved by the China Food and Drug Administration, generally take 2-3 years)
.
In almost all major pharmacies, you can see a bottle of By-Health developed by By-Health
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">BY-HEALTH focused on dietary supplements and swallowed 142 "blue hats" in a 0000pt;mso-font-kerning:1.
0000pt;">muffled voice 0000pt;mso-font-kerning:1.
0000pt;">(Approval Certificates for Supplements and Health Foods, approved by the China Food and Drug Administration, generally take 2-3 years) 0000pt;mso-font-kerning:1.
0000pt;">.
0000pt;mso-font-kerning:1.
0000pt;">In almost all major pharmacies, you can see a bottle of By-Health developed by By-Health 0000pt;mso-font-kerning:1.
0000pt;">.
BY-HEALTH focused on dietary supplements and swallowed 142 "blue hats" in a muffled voice (Approval Certificates for Supplements and Health Foods, approved by the China Food and Drug Administration, generally take 2-3 years)
.
In almost all major pharmacies, you can see a bottle of By-Health developed by By-Health
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">However, it is a pity that the health care product industry has been in development for more than 20 years.
Today, when the Internet is fully immersed, when it comes to health care products, there is still no phenomenon-level single product that is well-known and blurted out like the melatonin and wife oral liquid back then
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">However, it is a pity that the health care product industry has been in development for more than 20 years.
Today, when the Internet is fully immersed, when it comes to health care products, there is still no phenomenon-level single product that is well-known and blurted out like the melatonin and wife oral liquid back then
.
However, it is a pity that the health care product industry has been in development for more than 20 years.
Today, when the Internet is fully immersed, when it comes to health care products, there is still no phenomenon-level single product that is well-known and blurted out like the melatonin and wife oral liquid back then
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Then the question comes again.
Since the health care product industry is so "difficult to eat", why do people now start to follow suit?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Then the question comes again.
Since the health care product industry is so "difficult to eat", why do people now start to follow suit? Then the question comes again.
Since the health care product industry is so "difficult to eat", why do people now start to follow suit?0000pt;mso-font-kerning:1.
0000pt;">
03
03 03The third wave: 20 years ago, still a blue ocean0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Do you know what the most important keywords for men's health products in Taobao searches? It is impotence
.
Then there is hair growth
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Do you know what the most important keywords for men's health products in Taobao searches? It is impotence
.
Then there is hair growth
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">This is a small discovery made by Kang Le, the founder of BUFX, who has positioned himself as a functional food brand [1].
After that, Kang Le selected 300 male youths born in 1995 to conduct user research and found that more than 25-year-old young people 70% have used related products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">This is a small discovery made by Kang Le, the founder
0000pt;mso-font-kerning:1.
0000pt;">of 0000pt;mso-font-kerning:1.
0000pt;">BUFX, 0000pt;mso-font-kerning:1.
0000pt;">who has positioned himself as a functional food brand 0000pt;mso-font-kerning:1.
0000pt;">[1].
After that, Kang Le selected 300 male youths born in 1995 to conduct user research and found that more than 25-year-old young people 70% have used related products 0000pt;mso-font-kerning:1.
0000pt;">.
This is a small discovery made by Kang Le, the founder of BUFX, who has positioned himself as a functional food brand [1].
After that, Kang Le selected 300 male youths born in 1995 to conduct user research and found that more than 25-year-old young people 70% have used related products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In other words, out of 10 little brothers, 7 have used aphrodisiac products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In other words, out of 10 little brothers, 7 have used aphrodisiac products
.
In other words, out of 10 little brothers, 7 have used aphrodisiac products
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Based on this segmented demand, BUFFX launched the Buff X soft candy, which quickly became a hit
.
According to data from the media Blue Shark Inventory, this product currently sells tens of millions of yuan a month, far exceeding the monthly sales of one million at the beginning of October 2020
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Based on this segmented demand, BUFFX launched the Buff X soft candy, which quickly became a hit
.
According to data from the media Blue Shark Inventory, this product currently sells tens of millions of yuan a month, far exceeding the monthly sales of one million at the beginning of October 2020
.
Based on this segmented demand, BUFFX launched the Buff X soft candy, which quickly became a hit
.
According to data from the media Blue Shark Inventory, this product currently sells tens of millions of yuan a month, far exceeding the monthly sales of one million at the beginning of October 2020
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Obviously, BUFFX's >
.
The company also quickly won three rounds of financing within a year, and even before the company's products went public, Sequoia and Meihua had already invested in advance
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Obviously, BUFFX's >
.
The company also quickly won three rounds of financing within a year, and even before the company's products went public, Sequoia and Meihua had already invested in advance
.
Obviously, BUFFX's >
.
The company also quickly won three rounds of financing within a year, and even before the company's products went public, Sequoia and Meihua had already invested in advance
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Not only BUFX, but in this batch of new players, there are many "believers" in health care products of the older generation
.
Most of the modern marketing channels for new health care products come from the hottest social platforms nowadays: the recommendation of the head anchor, the sharing of Xiaohongshu notes, and the WeChat Moments of friends on the screen; for example, Wonderlab, which is out of the circle with a meal replacement small fat bottle, almost Covers these three main marketing channels
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Not only BUFX, but in this batch of new players, there are many "believers" in health care products of the older generation
.
Most of the modern marketing channels for new health care products come from the hottest social platforms nowadays: the recommendation of the head anchor, the sharing of Xiaohongshu notes, and the WeChat Moments of friends on the screen; for example, Wonderlab, which is out of the circle with a meal replacement small fat bottle, almost Covers these three main marketing channels
.
Not only BUFX, but in this batch of new players, there are many "believers" in health care products of the older generation
.
Most of the modern marketing channels for new health care products come from the hottest social platforms nowadays: the recommendation of the head anchor, the sharing of Xiaohongshu notes, and the WeChat Moments of friends on the screen; for example, Wonderlab, which is out of the circle with a meal replacement small fat bottle, almost Covers these three main marketing channels
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">And this group of newcomers can easily win the favor of VCs.
It seems that they have three things in common: 1) Almost every one has received investment from market-leading funds within the past year; 2) The core team members (including the founders) have follow-ups.
Brand marketing related background; 3) Targeting young people born in the 90s, positioning young health, oral beauty/health
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">And this group of newcomers can easily win the favor of VCs.
It seems that they have three things in common: 1) Almost every one has received investment from market-leading funds within the past year; 2) The core team members (including the founders) have follow-ups.
Brand marketing related background; 3) Targeting young people born in the 90s, positioning young health, oral beauty/health
.
And this group of newcomers can easily win the favor of VCs.
It seems that they have three things in common: 1) Almost every one has received investment from market-leading funds within the past year; 2) The core team members (including the founders) have follow-ups.
Brand marketing related background; 3) Targeting young people born in the 90s, positioning young health, oral beauty/health
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Some new health products0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Some new health products0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">The question is, what does VC value these companies? The longest establishment of these companies is less than 2 years, and many of them have launched products almost recently
.
Instead of picking up the secrets of VCs' invested companies, try to use God's perspective, and you will find that VCs are more like betting
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The question is, what does VC value these companies? The longest establishment of these companies is less than 2 years, and many of them have launched products almost recently
.
Instead of picking up the secrets of VCs' invested companies, try to use God's perspective, and you will find that VCs are more like betting
.
The question is, what does VC value these companies? The longest establishment of these companies is less than 2 years, and many of them have launched products almost recently
.
Instead of picking up the secrets of VCs' invested companies, try to use God's perspective, and you will find that VCs are more like betting
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Betting on the industry cycle (in the health and wellness industry)
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Betting on the industry cycle (in the health and wellness industry)
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">After 20 years of cold period for health products , theoretically, there will be reheating, and the policy has slowed down the strict control of health products (starting from January 7, 2021, food-grade sodium hyaluronate raw materials can be used for ordinary food additives ) Is a very obvious signal
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">After 20 years of cold period for
0000pt;mso-font-kerning:1.
0000pt;">health products 0000pt;mso-font-kerning:1.
0000pt;">, theoretically, there will be reheating, and the policy has slowed down the strict control of health products (starting from January 7, 2021, food-grade sodium hyaluronate raw materials can be used for ordinary food additives ) Is a very obvious signal 0000pt;mso-font-kerning:1.
0000pt;">.
After 20 years of cold period for health products , theoretically, there will be reheating, and the policy has slowed down the strict control of health products (starting from January 7, 2021, food-grade sodium hyaluronate raw materials can be used for ordinary food additives ) Is a very obvious signal
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In addition, from an investment perspective, it is not difficult to explain that newcomers, including capital, are stationed in the health and wellness industry, and it is even a bit too simple
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In addition, from an investment perspective, it is not difficult to explain that newcomers, including capital, are stationed in the health and wellness industry, and it is even a bit too simple
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">1) The market is large enough
.
The scale of China's health care product industry is hundreds of billions of yuan, and it is the second largest health care product market after the United States, with an average annual growth rate of 10%.
This figure is 4.
7% in the mature US market
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">1) The market is large enough
.
The scale of China's health care product industry is hundreds of billions of yuan, and it is the second largest health care product market after the United States, with an average annual growth rate of 10%.
This figure is 4.
7% in the mature US market
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">2) Still a blue ocean
.
The industry penetration rate is very low, only about 20%, 40% in Japan, and 50% in the United States (the highest penetration rate of functional food in the United States is 73%)
.
In China, with the exception of Infinitus (a direct selling company with a market share of about 11%), BY-HEALTH, which ranks second, has a market share of only about 6%
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">2) Still a blue ocean
.
The industry penetration rate is very low, only about 20%, 40% in Japan, and 50% in the United States (the highest penetration rate of functional food in the United States is 73%)
.
In China, with the exception of Infinitus (a direct selling company with a market share of about 11%), BY-HEALTH, which ranks second, has a market share of only about 6%
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">3) It is the general trend
.
First, there is a high probability that it is difficult for China to avoid an aging society; secondly, a young health-preserving army dominated by the post-90s population is emerging
.
Both the former and the latter are natural high-viscosity consumers in the health care product industry
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">3) It is the general trend
.
First, there is a high probability that it is difficult for China to avoid an aging society; secondly, a young health-preserving army dominated by the post-90s population is emerging
.
Both the former and the latter are natural high-viscosity consumers in the health care product industry
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">However, when asked what health products post-90s would buy for their parents, "not buying domestic products" became their unified bottom line, which seemed to reflect the current status of products with health care functions emerging today—to varying degrees Abandon the old market and switch to the people who were born in the era of the rise of China's national power
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">However, when asked what health products post-90s would buy for their parents, "not buying domestic products" became their unified bottom line, which seemed to reflect the current status of products with health care functions emerging today—to varying degrees Abandon the old market and switch to the people who were born in the era of the rise of China's national power
.
However, when asked what health products post-90s would buy for their parents, "not buying domestic products" became their unified bottom line, which seemed to reflect the current status of products with health care functions emerging today—to varying degrees Abandon the old market and switch to the people who were born in the era of the rise of China's national power
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">4) Severely underestimated
.
This can be used for reference to By-Health's gross profit margin: 65% for ten years
.
In addition, health care products have a naturally high repurchase rate, and once consumers have approved the product, they will continue to repurchase
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">4) Severely underestimated
.
This can be used for reference to By-Health's gross profit margin: 65% for ten years
.
In addition, health care products have a naturally high repurchase rate, and once consumers have approved the product, they will continue to repurchase
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In 2004, Zhu Baoguo, known as the king of health products, said in an interview with a highly incisive summary: There are many standards for measuring the maturity of an enterprise.
For the current Chinese pharmaceutical and health products companies, capital strength, The ability to open technology and market control are the main indicators to measure its maturity
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In 2004, Zhu Baoguo, known as the king of health products, said in an interview with a highly incisive summary: There are many standards for measuring the maturity of an enterprise.
For the current Chinese pharmaceutical and health products companies, capital strength, The ability to open technology and market control are the main indicators to measure its maturity
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Judging from the current health care product market alone, it seems that it is still at the first stage mentioned by Mr.
Zhu -capital strength
.
When talking about these emerging health products, consumers still pay most attention to whether they are paying IQ taxes
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Judging from the current health care product market alone, it seems that it is still at the first stage mentioned by Mr.
Zhu -capital strength
.
When talking about these emerging health products, consumers still pay most attention to whether they are paying IQ taxes
.
Judging from the current health care product market alone, it seems that it is still at the first stage mentioned by Mr.
Zhu -capital strength
.
When talking about these emerging health products, consumers still pay most attention to whether they are paying IQ taxes
.
0000pt;mso-font-kerning:1.
0000pt;">
04
04 04Conclusion: The ultimate answer
Conclusion: The ultimate answer Conclusion: The ultimate answer0000pt;mso-font-kerning:1.
0000pt;">The last question at the beginning of this article "Why VCs began to swarm the health care industry", I believe you have already answered the previous article
.
But if we are from a macro perspective, the advanced version of this question will become: Why is China's VC/PE industry now fierce?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">The last question at the beginning of this article "Why VCs began to swarm the health care industry", I believe you have already answered the previous article
.
But if we are from a macro perspective, the advanced version of this question will become: Why is China's VC/PE industry now fierce? The last question at the beginning of this article "Why VCs began to swarm the health care industry", I believe you have already answered the previous article
.
But if we are from a macro perspective, the advanced version of this question will become: Why is China's VC/PE industry now fierce?0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">In the past two years, there is a saying that has been particularly popular in the venture capital circle.
You can hear a similar version at almost every venture capital summit: all business in China is worth doing again
.
This sentence is somewhat general and decisive.
The thinking of the king of health care products more than ten years ago by Zhu Baoguo is particularly poetic: the development history of human civilization is the history of innovation from generation to generation
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">In the past two years, there is a saying that has been particularly popular in the venture capital circle.
You can hear a similar version at almost every venture capital summit: all business in China is worth doing again
.
This sentence is somewhat general and decisive.
The thinking of the king of health care products more than ten years ago by Zhu Baoguo is particularly poetic: the development history of human civilization is the history of innovation from generation to generation
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">However, leaving aside generality and poetry, one investor gave his answer very early: do more China
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">However, leaving aside generality and poetry, one investor gave his answer very early: do more China
.
0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">Reference materials:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;">Reference materials:0000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">[1].
China’s new richest man has made his fortune through it, and has been repeatedly plagued by negative aspects such as death-eaters and pyramid schemes.
Can health care products be "washed out" by new brands? Blue Shark in stock, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[1].
China’s new richest man has made his fortune through it, and has been repeatedly plagued by negative aspects such as death-eaters and pyramid schemes.
Can health care products be "washed out" by new brands? Blue Shark in stock, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">[2].
In-depth report by Tomson Beijian, Western Securities, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[2].
In-depth report by Tomson Beijian, Western Securities, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">[3].
Young people's consumption trend report, CBN Business Data Center, 20200000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[3].
Young people's consumption trend report, CBN Business Data Center, 20200000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">[4].
Maybe everyone underestimated the profitability of health care products, Danliel88, 20200000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[4].
Maybe everyone underestimated the profitability of health care products, Danliel88, 20200000pt;mso-font-kerning:1.
0000pt;">
0000pt;mso-font-kerning:1.
0000pt;">[5].
Health Products" Harvesting Young People, Ran Dimension, 20210000pt;mso-font-kerning:1.
0000pt;">
0000pt;">[5].
Health Products" Harvesting Young People, Ran Dimension, 20210000pt;mso-font-kerning:1.
0000pt;">
