称霸高铁的“国民下饭菜”，为何年轻人咽不下去了？

Core Viewpoint - The article discusses the declining performance of Fuling Mustard, the leading pickled vegetable brand in China, highlighting a significant drop in sales and market presence due to changing consumer preferences and increased competition from other food products like dipping sauces [3][9][30]. Financial Performance - Fuling Mustard reported a decline in both revenue and net profit for the second consecutive year, with five out of seven major sales regions experiencing varying degrees of decline [3][5]. - The company's market value has decreased by 300 billion yuan from a peak of over 350 billion yuan five years ago [5][11]. Market Dynamics - The consumption of Fuling Mustard has significantly changed, with the product now being less visible in key consumption scenarios such as supermarkets and high-speed trains, where consumers are opting for more diverse meal options [10][20]. - The brand's pricing strategy has led to a reduction in the number of distributors, with a notable decline of nearly 60% in the South China sales region [17][20]. Consumer Preferences - Younger consumers are increasingly sensitive to health concerns related to high-sodium products, leading them to seek alternatives like dipping sauces, which are perceived as more sophisticated and versatile [25][30]. - The rise of various brands in the dipping sauce market, including those from influencers and traditional brands, has created a competitive landscape that Fuling Mustard struggles to navigate [28][30]. Product Strategy - Fuling Mustard has heavily relied on its flagship product, which now accounts for over 80% of its revenue, limiting its growth potential [22][23]. - The company has attempted diversification by exploring other products like pickled radish and seaweed, but these efforts have not yielded significant results [23][30]. Marketing Efforts - In response to declining sales, Fuling Mustard has increased its marketing budget by over 30% in 2024, allocating 100 million yuan for promotional activities [32][34]. - Despite past successful marketing campaigns, current strategies have not resonated with younger consumers, leading to ineffective promotional efforts [34][36]. Industry Challenges - The challenges faced by Fuling Mustard reflect broader issues within the traditional food industry, emphasizing the need for value reconstruction rather than merely targeting premium markets [38].