Bestore, China's Top Snack Brand, Lands on New York's Times Square

Inviting overseas partners to explore the Chinese snack market

Feb 02, 2016, 22:01 ET from Liangpinpuzi (LPPZ)

WUHAN, China, Feb. 2, 2016 /PRNewswire/ -- With China's rising economic power and globalization, foreign snacks is increasingly gaining popularity among Chinese consumers every year. In particular, during the Chinese Spring Festival, also known as China's biggest shopping season, imported snacks has been gradually overtaking the traditional domestic snacks by the shelf.

Recently, China's top leisure snack brand Bestore (Liangpinpuzi),  has landed on the giant display in New York's Times Square, to invite the global manufacturers and suppliers of high-quality snacks to jointly develop the Chinese snack market, providing Chinese consumers with the chance for more delicious snacks from all over the world.

Chinese snack market has an annual growth rate of 20%

The snack market in China measures RMB 1.3 trillion, and rises by 20% every year. Taking e-commerce as an example, Tmall - China's largest e-commerce platform, growth in the sales of food categories has by far surpassed the average overall growth of Tmall's business, with a growth rate of 8 folds in 3 years. Analysts believe that globalization is one of the key directions of the Chinese snack industry.

Obviously, this trend has already been foreseen by Bestore. Since its foundation, Bestore has always been following development, customization, and promotion of tasty snacks throughout the world as its its company mission. Bestore has never stopped searching for suppliers who provide high-quality raw materials and excellent snack globally. After nine years of development, Bestore has now become the leading brand in China's snack industry, with twice the market share of the closest competitor. In 2015, sales of its imported food reached nearly RMB 400 million, and is still growing every year.

Currently, Bestore sells all kinds of foods categories via its full sales channel, with 11 categories including nuts, roasted seeds, healthy drinks, preserved plums, preserved fruits, meat snacks, seafood snacks, vegetarian snacks, biscuits & cakes, candies & puddings, and beverages. The raw materials and snack processing plants of these products are scattered in different parts of the world, including the United States, Canada, Australia, Africa, South America, North America and Southeast Asia, as well as other domestic areas. Star products among these places include pecans and pistachios from USA and dried mangoes from the Philippines.

Chinese snack sales channels are diversified

In the traditional commodity circulation system, foreign products came into China like a pyramid structure: first is to find a general agent in Beijing, Shanghai or Guangdong; second, sub-agents in provinces, and then regional agents. Goods will finally enter into shopping malls and other traditional channels from these regional agents.

The emergence of cross-border e-commerce and chain stores represented by Bestore have had a great impact on the domestic sales channel of imported products. Many foreign suppliers thought that supermarket is the only Chinese snacks channel, and had no idea about specialized snack format like Bestore which covers a variety of sales channels.

Bestore by far owns an all-channel sales network with 37 online channels and 1,700 chain stores, and sells over 1,500 kinds of snacks.

2015 is an important year for Chinese e-commerce going globally. Online platforms have emerged as "world shops" that allow buying and selling activities globally. Such business model has been trending among Chinese brands from all sectors, thanks to the encouragement of China's government policy, user demand and the revolution of sales channels. China's snack brands have started to run cross-border business in 2015, which has also brought opportunities for foreign suppliers.

With the development of cross-border e-commerce businesses, cooperation with Bestore is promising. "We have the advantage of chain stores and online channels, and we can takeover the place of the original import agents once we develop a cross-border platform well." Bestore holds that, with consolidated channels and operational capabilities in the domestic market, purchasing products directly from abroad can reduce intermediate links, thus achieving mutual win-win cooperation.

New York's Times Square is known as "The crossroads of the world", and its outdoor advertising screen has always been a showcase for the world's top brands. During the Spring Festival this year, 100 Chinese brands set a new record by appearing together in Times Square, raising international attention and discussion about Chinese enterprises going global and culture output under the rise of China's power.

During the 2016 Chinese Spring Festival, Bestore, together with its spokesman Mr. Huang Xiaoming, debuted in New York's Times Square, sending New Year blessings to all Chinese worldwide. Meanwhile, it aims to attract the attention of raw material suppliers, foreign snack manufacturers and foreign products agents.

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