糖、咖啡和酒精，蜜雪冰城的“成瘾”生意

Core Insights - The article discusses the strategic expansion of Mixue Ice City into the alcoholic beverage market by acquiring the fresh beer brand Fulu Family, thereby covering three major addictive categories: sugar, caffeine, and alcohol [2][9][30] Group 1: Acquisition and Business Strategy - Mixue Ice City has acquired a 53% stake in the fresh beer brand Fulu Family for approximately 297 million RMB, marking a significant move in its beverage portfolio [3][4] - Fulu Family, which was incubated by Mixue, has a strong connection to the company, with its actual controller being the wife of Mixue's CEO [4][5] - The acquisition allows Mixue to officially showcase its fresh beer business, which had previously been a "dark horse" in its strategy [2][4] Group 2: Market Trends and Consumer Behavior - The article highlights a shift in consumer preferences, with younger generations moving away from traditional liquor like baijiu and gravitating towards beer and ready-to-drink (RTD) options [21][23][29] - A survey indicated that 52% of consumers aged 20-35 prefer beer, while only 19% choose baijiu, reflecting a significant change in alcohol consumption patterns [23][29] - The trend of "de-restaurantization" and "self-indulgence" in alcohol consumption is noted, paralleling changes seen in Japan's beverage market [26][29] Group 3: Competitive Advantage and Supply Chain - Mixue Ice City boasts a highly self-sufficient supply chain, with over 60% of its ingredients sourced in-house, allowing for lower procurement costs compared to industry averages [17][30] - The company can seamlessly integrate its supply chain across its brands, including Mixue, Luckin Coffee, and Fulu Family, effectively operating as "three entrances to one business" [18][19] - This cost control and supply chain efficiency enable Mixue to maintain competitive pricing across its product offerings, including Fulu Family's fresh beer priced significantly lower than market competitors [8][30]