品牌向上，被消费降级“撞了一下腰”

Group 1 - The core viewpoint of the articles highlights the challenges faced by brands maintaining a mid-to-high-end positioning in the context of consumer downgrade and market reconfiguration [2][5][25] - Starbucks China is reportedly planning to sell part of its stake due to a significant decline in market share, dropping from 42% in 2017 to 14% [2] - The average per capita consumption in the restaurant industry is projected to decrease from 42.6 yuan in 2023 to 39.8 yuan in 2024, prompting many restaurants to introduce budget-friendly meal options [4] Group 2 - The automotive market is experiencing a stark contrast, with sales of vehicles priced below 100,000 yuan increasing by 51% year-on-year, while those above 300,000 yuan are facing negative growth [5][6] - Major luxury brands like Mercedes-Benz, BMW, and Audi have seen significant declines in sales, with Mercedes-Benz deliveries down 14% and BMW down 15.5% in the first half of 2025 [8] - New domestic brands are struggling to achieve significant sales volumes, with many high-end brands like Zeekr and NIO failing to consistently exceed monthly sales of 20,000 units [8][20] Group 3 - The market for high-end vehicles is becoming increasingly competitive, with more brands entering the space, leading to a dilution of market share previously dominated by a few [6][20] - NIO is under pressure to perform, with its upcoming ES8 model seen as critical for its survival, while Zeekr is refocusing on its core strengths after a tumultuous period [15][18] - Brands like Lantu and Avita are also facing challenges, with Lantu's sales hovering around 10,000 units per month and Avita's average price exceeding 270,000 yuan, contributing to difficulties in a declining high-end market [20][24] Group 4 - The overall high-end car market is shrinking, with the share of vehicles priced over 400,000 yuan dropping from 5.4% to 3.5% year-on-year [24] - Despite the challenges, there is potential for Chinese brands to establish themselves in the high-end market, as consumer perceptions of luxury are evolving [25][27] - Brands that can demonstrate strong technology and unique characteristics are likely to succeed, with Zeekr and NIO identified as having potential if they can navigate current market conditions [27]