无限极的“养生生意”有多赚？

Core Viewpoint - The article discusses the resurgence of Infinitus, a leading company in China's health supplement industry, following significant challenges including the "Qianjian incident" and the COVID-19 pandemic, highlighting the company's recovery to over 10 billion in revenue and the implications of this recovery for the health supplement market [2][9]. Company Growth - Infinitus was founded in 1992, leveraging the health consumption trend and traditional Chinese medicine, and quickly adopted a direct sales model to penetrate the market [6]. - The company faced its first major crisis in 1994 due to low brand awareness, leading to the adoption of a direct sales approach that facilitated rapid market entry [6]. - After a regulatory crackdown on direct sales in 1998, Infinitus transitioned to a dealer-based distribution model, which allowed it to survive and eventually thrive during the 21st century [7][8]. - By 2015, Infinitus reached a peak revenue of approximately 26 billion to 30 billion, becoming the top player in China's direct sales industry [8][12]. - The company experienced a significant decline in market share from 8.9% in 2018 to 3.7% in 2023 due to the "Qianjian incident" and the pandemic, but managed to recover to a revenue exceeding 10 billion in 2023 [9][10]. Market Dynamics - The health supplement market in China is projected to grow to 5.8 trillion by 2025, with a year-on-year increase of 12.3% from 2024, driven by an aging population and rising health awareness [3][10]. - Infinitus's focus on traditional Chinese medicine aligns with the growing consumer demand for natural health products, particularly in the post-pandemic era [10][11]. - The company has diversified its product offerings into three main categories: health foods, beauty and personal care, and home products, with health foods being the core segment [11]. Marketing Model and Compliance Issues - Infinitus employs a unique marketing strategy centered on direct sales, experiential marketing, and network expansion, which has been both a growth driver and a source of controversy [14]. - The company has faced scrutiny over its marketing practices, particularly regarding exaggerated claims and compliance with regulations, leading to a series of adjustments post-2019 [15][16]. - Despite mixed consumer feedback on product efficacy, the company continues to navigate the challenges of maintaining consumer trust and ensuring compliance within the health supplement industry [16].