Joyoung(SZ:002242) 3 6 Ke·2026-01-02 04:43Core Viewpoint - The rise of the "abstract economy" is characterized by the commercialization of internet culture and emotions, exemplified by products like Joyoung's "Haki Mi North-South Mung Bean Milk," which quickly sold out and led to significant stock price increases for its parent company [1][3][16]. Group 1: Product Launch and Market Response - Joyoung's "Haki Mi North-South Mung Bean Milk" was launched on Double Eleven and sold out on its first day, with pre-order delivery times extended to 45 days [1]. - The product's packaging features a cat head and incorporates popular phrases, appealing to younger consumers [1]. - The parent company, Joyoung Co., had to clarify that it does not engage in food and beverage products due to the stock price surge following the product's success [1]. Group 2: Characteristics of the Abstract Economy - The "abstract economy" refers to the transformation of fleeting internet trends and collective memories into tangible products that can be purchased and displayed [1][3]. - Products in this economy typically have low price points, primarily utilize e-commerce channels, and often operate on a pre-sale basis [3][4]. - The emotional consumption trend among young people emphasizes social value and self-expression through these products [3][4]. Group 3: Consumer Behavior and Market Dynamics - Young consumers are willing to spend small amounts on products that provide emotional satisfaction, reflecting a shift from traditional social bonding methods to those centered around internet culture [2][3]. - The low price of these products reduces consumer pressure and allows for easy gifting among strangers, enhancing social connections [4][5]. - E-commerce platforms facilitate the distribution of these products to geographically distant but culturally connected target groups [4]. Group 4: Production and Sales Process - The production process for these products can take over a month, involving design, sampling, and feedback collection before mass production [11][12]. - Creators, often referred to as "group leaders," manage the entire production and sales process, driven by community engagement rather than profit alone [11][12]. Group 5: Challenges and Copyright Issues - The abstract economy faces challenges related to copyright and the potential for product homogeneity, as many products are based on popular internet memes [15][16]. - The ownership of "meme" content is often unclear, complicating the commercialization of related products [16][17]. - To mitigate copyright risks, creators are encouraged to develop original designs rather than directly copying existing content [17]. Group 6: Future Outlook - The sustainability of the abstract economy depends on balancing cultural engagement with commercial viability while protecting original content rights [18]. - As the market evolves, there is a need for deeper integration of memes with practical applications and intellectual properties to maintain consumer interest [18].