Summary of Key Points
Recent major closures of marinated food brands, such as Juewei Duck Neck, have seen a significant decline in both store numbers and revenue profits (6,600 stores closed in three years, averaging 7 closures per day). This is not solely due to high prices (referred to as the "duck neck killer"), but more importantly, it is because the consumption scenarios that these brands relied on—such as eating duck neck while watching long videos or shrimp while watching sports events—have collapsed with the rise of short videos. Nowadays, people use their hands to swipe screens while watching short videos and don't have the time to handle foods that require two-handed operation. The franchise model once delayed the crisis, but as the market became saturated, the wave of closures intensified. The marinated food industry has not disappeared; instead, it has shifted to smaller, single-hand-friendly packaging formats. The era of high premiums associated with these products is coming to an end.
Detailed Analysis
1. How bad are the marinated food giants really? The closure trend is worse than you think
Juewei Duck Neck has gone from 15,000 stores at the end of 2023 to 9,300 stores today, with over 6,600 closures in three years, effectively being kicked out of the "10,000-stores club." Not only have the number of stores decreased, but their profitability has also plummeted: revenue fell by 10.82%, and net profit dropped by 23.16%, with even the daily cash flow turning negative. Zhou Heiya and Huangshanghuang are not in a much better position, and the entire marinated food sector is facing tough times. The situation for shrimp is even worse: prices have dropped by 30% in the first seven months of this year (with purchase prices at the source dropping to 8.5 yuan per pound), yet the number of shrimp stores has decreased from 99,000 to 61,000, resulting in a 37% closure rate (the highest among food categories). Whether prices rise or fall, people simply don't want to eat these foods because they are too cumbersome to handle.
2. It's not that duck neck is too expensive; it's that you don't have time while watching short videos
The "duck neck killer" has indeed received criticism, but the more fatal factor is the loss of the consumption scenario. In the past, marinated foods were popular because they complemented long videos perfectly. Since 2012, popular variety shows like "The Voice of China" and "Where Are We Going, Dad?" and the investment in long-form dramas by platforms like iQiyi and Tencent have led to high television viewership rates, with people spending months watching a single drama. Eating duck neck during this time was ideal, as a pound of duck neck could last an hour, perfectly matching the duration of the videos. Buying duck neck was essentially buying "companionship time," which is why the scraps could be sold for a higher price than the entire duck.
But now, people use one hand to swipe screens while watching short videos, and trying to peel shrimp or eat duck neck while wearing gloves is a hassle for modern consumers. This creates a sense of anxiety, leading them to give up eating these foods. For example, during this year's World Cup (held in North America at an inconvenient time), there were fewer social gatherings for watching matches, but the business at shrimp restaurants remained the same as usual. However, when people watch matches alone (a scenario that favors long videos), orders for marinated foods increased by 50%—indicating that the demand is still there, even if the consumption scenario has changed.
3. Behind the collapse of the consumption scenario: Long videos have lost to short videos
The turning point came in 2019, when the daily usage time for short videos surpassed that of long videos for the first time. Since then, long videos have seen a sharp decline: television viewership has dropped from 70% to 30%, the average number of episodes in dramas has decreased from 43 to 30, and the number of new long dramas registered in 2024 has decreased by 10%. There are no longer widespread trends in long-form dramas and variety shows. The trajectory of the marinated food industry has followed this trend closely: growth in the industry slowed from 18% in 2019 (with Juewei's average store revenue reaching a peak of 445,000 yuan) to just 4.2% in 2025. In other words, the decline of marinated foods began long before people started criticizing the "duck neck killer," due to the disappearance of the favorable consumption environment created by long videos.
4. Why did the closure trend only start now? Franchisees acted as a buffer
Juewei was able to withstand the initial decline until 2023 thanks to its franchise network. Although revenue per store decreased, the company could still grow by opening new stores and charging franchise fees. In 2019, it reached 10,000 stores, and by 2023, it had expanded to 15,000. However, as the market became saturated, franchisees stopped making money and began to close their stores, leading to the current surge in closures (7 closures per day).
5. Marinated foods are not dead; they have just changed their form
The marinated food industry has not disappeared; it has simply adapted to new trends. Nowadays, snack and fresh food stores offer small, vacuum-sealed packages of duck wings and feet that are designed for single-hand consumption. These products are easy to handle and eat without getting your hands dirty, perfectly suited for the context of watching short videos.
However, Juewei's weakness lies in its outdated product mix: 75% of its revenue comes from bulk fresh products sold at stores, with packaged products accounting for only 7%. The company is trying to diversify by selling breakfast items and bento boxes, as well as investing in other food brands, in an attempt to enter the more stable "food for hunger satisfaction" market. But the era of high prices for niche products, which relied on the popularity of long videos, is coming to an end.
Final Conclusion
The decline of marinated foods is a reflection of the replacement of long-video consumption scenarios by short videos. When people's hands are occupied by their phones, foods that require two-handed handling are naturally marginalized. High prices are just a catalyst; the real killer is the disappearance of the suitable consumption environments.