千亿鸭脖市场，周黑鸭与绝味剑拔弩张，谁能当上中华“第一鸭”？
周黑鸭和绝味鸭脖可以算得上是卤鸭零售市场的老对头了，根据市场研究机构Frost & Sullivan预计，到2020年，中国休闲卤制品零售额将达到千亿规模，谁能做到中华“第一鸭”，即便绝味市值如今是周黑鸭的两倍，结果依然还有悬念。
2005年，“周黑鸭”商标注册，成立十多年来，周黑鸭只在初期短暂放开过加盟，期间出现过质量管理问题，此后一直坚持100%自营。目前，周黑鸭一共有1200家门店全部均为自营门店，周黑鸭在招股说明书中称，自营门店一般在1-2个月内达到收支平衡，新开自营门店的投资回收期约为2-6个月。而绝味在全国有超过9000家门店，其中有9成为加盟店。
靠着如此庞大的门店体量，2018年，绝味的营收突破了40亿元，绝味总营收、净利润增速均为两位数，此前 2017年，绝味的毛利率为35.79%，而周黑鸭则高达60.9%，但在2018年中，周黑鸭高速增长的势头戛然而止，营收、净利润双双下滑，预计全年净利润将比上年同期下跌约30%，叫人大跌眼镜
周黑鸭的净利润大幅下滑，究其原因，就在于门店顾客的流失。如何在扩张的同时维持店铺的高坪效、高盈利，是周黑鸭所面临的一大难题，此外，周黑鸭在一二线城市基本布局完毕，面临市场下沉时，门店盈利问题更加突出。周黑鸭的单品价格不低，价格敏感人群可能会对其不太感冒。
2016年天猫“双11”，周黑鸭赴港交所上市，发行价5.88港元，如今一路跌宕下行至3.7港元左右，近乎腰斩；而它的老对手绝味，2017年以16.09元人民币的发行价在上交所挂牌，股价节节攀升，如今稳定在40元上下，两年翻了一番还不止。
市值股价变化：周黑鸭上；绝味下
那么，周黑鸭就全然没有希望了么，那倒不然，在线上，周黑鸭玩得风生水起。尽管线下门店数只有绝味的1/8，但周黑鸭天猫旗舰店的粉丝数却是绝味的五倍。据周黑鸭财报，电商在其销售中扮演着越来越重要的角色。2017年，其电商销售额达3.4亿，占比上年增长30.5%，占总体收入的比例超过10%，此外，周黑鸭尝试涉足外卖行业，2017年，周黑鸭外卖收入已占门店总收入的10.3%。
所以，最终谁能成为最终的中华“第一鸭”，你认为呢？
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