YANGYUAN(SH:603156) Di Yi Cai Jing·2025-09-25 09:00Core Insights - The Mid-Autumn Festival gift box market is shifting towards more affordable pricing, with popular products priced around 99 yuan for four boxes or 100 yuan for five boxes, indicating a stabilization in the market after a decline earlier in the year [1][2] - The overall pricing of mainstream gift boxes has decreased compared to last year, with many items priced below 100 yuan, leading to increased market activity compared to the same period last year [1][2] - The sales of traditional beverage and milk gift boxes have shown signs of recovery, attributed to the more consumer-friendly pricing strategies adopted by sellers [1][2][3] Industry Trends - Manufacturers and distributors are adopting a rational mindset, with some well-known brands pricing their gift boxes low and operating on thin margins to boost sales, although some distributors report a 20-30% decline in market activity [2] - The fast-moving consumer goods (FMCG) gift box market has been underperforming in recent years, particularly during the Spring Festival, which has negatively impacted the performance of related publicly listed companies [2] - The shift towards affordable gift boxes is influenced by multiple factors, including criticism of "sky-high gift boxes," changing consumer attitudes favoring actual value over packaging, and a general market fatigue towards extravagant products [3]