茅台失宠，泡泡玛特封神！中国新消费品牌为何能征服世界？

Core Insights - The article highlights the shift in consumer preferences from traditional luxury brands like Moutai to new-age brands such as LABUBU, which resonate more with the younger generation [3][5][12] - It emphasizes the success of new consumer brands in capturing the market, showcasing their ability to adapt to changing consumer demands and preferences [9][28] Group 1: Market Trends - Moutai's stock price has declined, and its market perception is fading among younger consumers, while brands like LABUBU are gaining popularity [5][11] - The overseas revenue for Moutai remains stagnant at around 4-5 billion yuan, accounting for only about 3% of its main business [7] - In contrast, LABUBU's overseas revenue reached 38.9% in 2024, with stores expanding globally [7][9] Group 2: Brand Performance - Bubble Mart's LABUBU plush toy has become a status symbol among celebrities, with auction prices reaching over 1 million yuan for limited editions [3][9] - Honey Snow Ice City has successfully listed with a market value exceeding 100 billion yuan and has over 5,000 overseas stores [9] - Old Puhuang's sales reached 9.8 billion yuan in 2024, a 166% increase year-on-year, showcasing its appeal to younger consumers [9][24] Group 3: Consumer Behavior - The traditional consumer base for liquor is aging, while younger consumers are changing their drinking habits and preferences [11][12] - The younger generation values emotional connections and experiences over traditional symbols of status, leading to a decline in the appeal of high-priced liquor [12][15] - The rise of "new consumption" brands reflects a shift towards products that offer emotional value, affordability, and cultural relevance [15][28] Group 4: Strategic Insights - The success of new brands is attributed to their ability to engage with younger consumers through emotional value, affordability, and cultural narratives [15][28] - Brands like Bubble Mart and Honey Snow Ice City are expanding globally, tapping into the demand for relatable and accessible products [30] - The article suggests that traditional brands need to adapt to the changing definitions of luxury and status as defined by the younger generation [30][32]