“预付+二消”顽疾难破，铂爵旅拍停摆背后的旅拍困局

Core Viewpoint - The recent turmoil faced by the leading company, Bojue Travel Photography, highlights the vulnerabilities in the travel photography industry, particularly the risks associated with the "prepayment + secondary consumption" model, which has been exacerbated by increased competition and changing consumer preferences [1][10][20]. Group 1: Company Situation - Bojue Travel Photography has resumed taking orders on its Taobao flagship store despite previous reports of operational shutdowns and customer service issues, indicating a potential attempt to stabilize its business [4][5]. - The company has faced significant operational challenges, including a sharp decline in customer volume since 2020, leading to a cash flow crisis exacerbated by high fixed costs associated with its numerous storefronts in popular tourist destinations [9][10]. - Many of Bojue's physical stores are being outsourced to third-party teams, with most original staff having left, reflecting a severe operational paralysis within the company [5][10]. Group 2: Industry Trends - The travel photography industry is experiencing a shift as younger consumers increasingly prefer personalized and cost-effective services offered by independent studios over traditional high-priced packages from established companies [19][20]. - The competitive landscape has intensified, with many new entrants offering lower-priced services, leading to a "price war" that further pressures established firms like Bojue [11][19]. - The industry's cyclical nature is evident, with companies typically experiencing a life cycle of rapid growth followed by a decline, influenced by changing consumer preferences and market dynamics [19][20].