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The first store becomes the "first withdrawal"! Coffee chain brand Tims cannot escape the fate of closing new stores in good weather

Published: 2024-06-13 Author:
Last Updated: 2024/06/13, ▲ Click to pay attention| Among the coffee brands in the various chain chains of Daily Boutique Coffee Culture Magazine Coffee Factory, Tims should be a special type, because it is remembered by consumers most of the time not because of the coffee, but because of a bagel in the morning. When Tims opened a store in a certain city, everyone first thought

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Among the coffee chains, Tims should be a special type, because it is remembered by consumers most of the time not because of coffee, but because of a bagel in the morning. When Tims opens its store to a certain city, the first thing that comes to mind is that your breakfast can be changed.

Recently, however, netizens in Yinchuan found that the New Baizhong store, which opened in the city's first store and the 700th store in Tims in China, had been closed. This is also the first Tims store closed in Yinchuan.

According to netizens, the store opened on June 18, 2023, and it is said that in order to compete with two other stores in Yinchuan for the name of "first shop", it is said that it went beyond the new hundred center on which it relied for business. After opening, it attracts many customers by virtue of its good geographical location and the halo of "first shop". However, unexpectedly, the store was closed after less than a year of operation.

Loyal users of the store sighed when they heard the news, "how can this store withdraw and hire deaf-mute people", "every time I go to Xinhua Street and get tired, I go to eat bagels and blow the air conditioner?" and "it's fine. My bagel", "the attitude of the new Baicheng store is really good, love their home when you order takeout."

The reasons for the closure of Tims's first store in Yinchuan are complicated. Throughout the business circle, Tims's setting up stores here is equivalent to being "attacked on the back and on the back". It is understood that within the business circle where the store is located, there are 3 lucky, 2 Starbucks and 1 Cudy. If nearby consumers pay attention to price, lucky and Cudy will be their priority; if they want to enjoy store service, Starbucks can "stand the scene" compared to Tims.

From this point of view, Tims, surrounded by Starbucks, Lucky and Cudy, is really "stressful". In terms of coffee products, the advantage of Tims is not obvious, and we can only rely on delicious bagels, farmers' rolls and other products to have some sense of existence in this "encirclement".

On the other hand, Tims occupies a better storefront in the mall, so the store rent is naturally high, so it can not be ruled out that it may be difficult to balance store revenue and expenditure and cannot afford store rent and operation. In addition, the mall has its own operational adjustment, which will make the brand give up the first store in Yinchuan after consideration.

It is worth noting that Tims recently not only closed Yinchuan stores, Beijing, Shanghai, Nanjing, Dalian and other places have announced the closure of stores.

In April this year, Tims released its annual results for 2023, which mentioned that the number of Tims Coffee and Popeyes stores nationwide reached 912, and in January this year, the number of stores exceeded 1,000, showing a trend of prosperity and good development.

But data from narrow-door dining eyes show that the growth rate of Tims stores has slowed significantly this year, with the total number of stores falling rather than rising. As of April this year, the number of Tims stores was 885, and the number of stores opened was basically the same as the number of stores closed. It can be said that the brand has "opened and closed one" in the past four months, with a closure rate of 16.84%.

(the picture is taken from the narrow door)

Although Tims has partnered with Sinopec easyJet to launch Tims Express, it uses lower-cost in-store stores to ensure the size of offline stores. However, in the economic downturn, the competition among brands is becoming more and more fierce. Under a lot of pressure, Tims may not be as easy as expected to break through thousands of stores in the first half of the year as originally planned.

Picture from: Internet

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