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Core Viewpoint - The recent price surge in badminton products, driven by material costs and supply chain issues, reflects a broader challenge regarding the accessibility of sports for the general public, as the cost of badminton has become comparable to luxury items like gold [3][39]. Price Increase Analysis - In July, several well-known brands, including Yonex and Victor, raised prices of popular badminton products by approximately 30-40 RMB per barrel [4]. - For instance, the price of Yonex's AS-05 model increased from 275 RMB to 350 RMB, marking a rise of over 20% [4]. - Consumers are reacting to these price hikes by either reducing purchases or stockpiling products in anticipation of further increases [6][7]. Market Demand and Supply Dynamics - The number of badminton participants in China exceeded 250 million in 2021, indicating a significant market potential [7]. - The supply of essential materials, such as duck and goose feathers, has decreased due to reduced production by farmers, contributing to the price increases [8]. - The demand for badminton products is outpacing supply, leading to inevitable price hikes [11]. Brand Performance and Market Trends - Li Ning reported a record high revenue in the first half of 2025, with a double-digit growth in equipment and accessories sales, indicating a strong market for badminton products [11]. - The share of badminton in Li Ning's overall revenue has increased to 7%, further driving the company's growth [11]. Consumer Behavior and Alternatives - As prices rise, many consumers are seeking more affordable alternatives, such as domestic brands or lower-cost products [19]. - Some clubs have started using cheaper, locally produced badminton products in response to the price hikes from major brands [15][19]. - The trend of "badminton ball refurbishment" has emerged, reflecting consumer dissatisfaction with rising prices and attempts to extend the life of existing products [30][36]. Future Outlook - The consensus in the industry suggests that unless more brands enter the market or significant technological advancements occur, prices for badminton products are unlikely to decrease in the near future [35]. - The potential for breakthroughs in artificial ball technology could be a key factor in addressing the current pricing challenges [35].