Business Valuation Of Leisure Food Industry Under The New Retail Background

In recent years,the continuous upgrading of consumer demand has led to the steady expansion of the market size of the leisure food industry and the increasing variety of products.The popularity of the "lazy man economy" has also led to the development of take-out,errands and other emerging industries,which has put forward new requirements for the omni-channel marketing and sales capabilities of casual food enterprises.With the gradual reduction of the Internet dividend,some casual food enterprises online revenue growth slowed down.At the same time,the emergence of new traffic portals such as Jitterbug and Racer has made online traffic "decentralized",which has intensified competition in the casual food industry and slowed down the growth of market share.In addition,the covid-19 pandemic has also hampered the growth of offline channels.In such a situation,casual food companies with a strong reliance on a single channel are actively exploring the "new retail" transformation to energize their business development.Since its establishment in 2012,Three Squirrels,with its brand IP and high-quality products,has been the first in Tmall’s "Double Eleven" sales for many years in a row,becoming the fastest company in the snack food industry to exceed 10 billion in revenue.However,established on Taobao platform,Three Squirrels is too dependent on a single channel online and urgently needs to expand offline to avoid online traffic competition.In such a context,Three Squirrels actively carried out the "new retail" transformation,while maintaining its online market share,it has set up various forms of offline channels such as "food drop stores" and "alliance stores",so as to build diversified retail channels.By combing through the existing literature,we find that most of the existing studies focus on the "new retail" transformation of traditional retail models(e.g.,Yonghui Supermarket,Suning Yunshang,etc.),and there are fewer studies on the "new retail" transformation of online retail models.Therefore,this paper selects Three Squirrels as the online casual food industry and explores the method to assess the value of such enterprises.First of all,the paper clarifies the background and significance of the topic,and clarifies the idea,and compares the relevant literature on the concept of "new retail",the casual food industry and enterprise value assessment at home and abroad.Secondly,this paper compares the current development status of the casual food industry,analyzes the future development prospects of the industry,and compares the industry leading position of Three Squirrels through the same industry.Then,this paper analyzes the business model,financial data and development strategy of Three Squirrels to get the future development war prospects of Three Squirrels.Finally,this paper uses the DCF model,combined with the scenario analysis method,for several iterations to finally obtain the assessment results.Through analysis and research,this paper concludes that although the future development prospect of casual food is relatively optimistic,the low technology content leads to low entry threshold,the threat of new entrants is strong,the homogenization of existing brand products is serious,and the future development of enterprises has strong uncertainty.On the one hand,enterprises should actively carry out product development and sales channel development to enhance their competitiveness;on the other hand,investors market may be too optimistic about the expectations of such enterprises,and should remain cautious when making investments.